Dubai, UAE – ALEC Holdings (“ALEC” or “The Company”) announced that it has successfully convened its Annual General Assembly Meeting (AGM), the first since its landmark IPO in Q4 2025. The meeting brought together shareholders to review the company’s performance, approve key resolutions, and reinforce ALEC Holdings’ commitment to transparency, accountability, and long-term value creation.

Among the key resolutions of the AGM was the approval of the Board of Directors’ proposal to distribute cash dividends of AED 250 million equivalent to 36.4% of net profit for FY 2025 as well as 500% of the Company’s capital as of 31 December 2025. Shareholders registered as of Friday, 03 April 2026 will be eligible to receive the dividend, which will be distributed through the Dubai Financial Market (DFM) in accordance with applicable procedures.

The AGM provided shareholders with a comprehensive overview of the company’s financial strength and operational performance. During the meeting, ALEC Holdings’ CEO, Barry Lewis presented highlights from the Board of Directors’ report for the fiscal year ended 31 December 2025, underscoring a year of strong, disciplined growth. ALEC Holdings reported revenues of AED 12.6 billion, reflecting a 56% year-on-year increase, alongside a gross profit of AED 1.3 billion at a margin of 10.5%. The company also maintained an impressive free cash flow of AED 813 million, demonstrating robust cash generation and financial resilience.

These results were complemented by an 89% employee retention rate over ten years, indicating sustained trust in ALEC’s delivery capabilities, along with a group wide Lost Time Injury Frequency Rate (LTIFR) of 0.097 per million hours worked, reinforcing its continued focus on workforce wellbeing and safety excellence across its extensive operations.

Commenting on the results, Barry Lewis said, “The strength of our performance reflects the clarity of our strategy, the discipline of our execution, and the commitment of our people. Delivering consistent growth while maintaining strong margins and cash flow positions us well for the future. The approval of this dividend underscores our focus on creating tangible value for our shareholders, as we continue to invest in the long-term resilience and capability of the business.”

Summary of Key resolutions passed at ALEC Holdings’ First Annual General Meeting:

  • Approval of the Company’s financial statements and results for the fiscal year ended 31 December 2025
  • Approval of the Board of Directors’ as well as The Company’s Integrated Annual Report for FY 2025
  • Approval of the Board’s proposal regarding the distribution of cash dividends totalling AED 250 million payable in April 2026
  • Reappointing the company’s external auditors for the fiscal year 2026

About ALEC Holdings PJSC  

ALEC Holdings PJSC, part of the Investment Corporation of Dubai, is a leading diversified engineering and construction group operating in the UAE and KSA. The Company builds and provides construction solutions that set industry benchmarks for innovation, quality, reliability and operational excellence. 

ALEC offers its clients complete turnkey solutions in construction, MEP, fitout, marine, oil & gas, modular construction, energy efficiency and solar projects, heavy equipment rental, technology systems and asset maintenance. With these capabilities, the Company successfully serves a diverse range of sectors including airports, retail, hotels & resorts, high-rise buildings, and themed projects. 

For more information, please visit https://alec.ae/.

Investor Enquiries
Aser Mokhtar
amokhtar@alec.ae