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- Operational profit rose 32% to AED 79 million, reflecting disciplined execution across the Group’s core business lines.
- Net profit grew 29% to AED 68.6 million, underscoring sustained profitability and business momentum.
Abu Dhabi, UAE: Emirates Stallions Group (ADX: ESG), a leading UAE-based diversified conglomerate and subsidiary of IHC, today announced its financial results for the first quarter ended 31 March 2026, delivering solid double-digit growth across key financial indicators.
Revenue reached AED 370 million, marking an 11% increase compared to AED 333 million in Q1 2025. Gross profit rose 32% to AED 130.5 million, while net profit increased 29% to AED 68.6 million. Operational profit before tax recorded a 32% rise to AED 79 million, reflecting continued efficiency gains and strong execution across the Group’s core verticals.
The Group maintained a strong financial position, with total assets increasing to AED 4.8 billion as of 31 March 2026, up 10% compared to year-end 2025. Total equity rose to AED 3.1 billion, while book value per share reached AED 12.4, highlighting ESG’s continued focus on value creation.
The performance reflects ESG’s diversified operating model and continued execution across its core businesses, with solid contributions from real estate development and manpower and accommodation services.
H.E. Matar Suhail Al Yabhouni Al Dhaheri, Chairman of ESG, said: “ESG’s strong performance in the first quarter of 2026 builds on the momentum achieved in 2025 and reflects the strength of our diversified platform. Our ability to deliver consistent growth across key business lines underscores our disciplined approach to execution and our focus on long-term value creation.”
Kayed Ali Khorma, CEO of ESG, added: “Our Q1 results demonstrate a solid start to the year, supported by continued revenue growth and improved profitability. The performance of our real estate platform, alongside the strong contribution from Sawaeed Holding, highlights the effectiveness of our strategy and our ability to capture demand across our core sectors. We will continue to build on this momentum as we advance our development activities and operational priorities.”
During the period, ESG continued to advance its real estate platform through Royal Development Holding. The Group’s Rotana Residences development on Al Reem Island (valued at AED 1 billion) witnessed a full sell-out ahead of launch, underscoring strong market demand for branded residential offerings and reinforcing the attractiveness of ESG’s real estate platform.
In parallel, ESG’s manpower and accommodation vertical, Sawaeed Holding, recorded strong growth across key financial indicators, reflecting continued positive performance and operational strength during the period. Sawaeed Holding offers comprehensive manpower supply, workforce accommodation, vocational training, and related services across a wide range of key sectors.
Building on its strong full-year 2025 performance, ESG continues to leverage its integrated platform to drive growth, enhance operational efficiencies, and capitalize on opportunities across its core sectors, reinforcing its position as a diversified growth platform.
About ESG Emirates Stallions Group:
ESG Emirates Stallions Group, a subsidiary of IHC, is a diversified UAE group uniting more than 50 subsidiaries across Manpower and Accommodation, Real Estate, Design and Manufacturing, Landscaping, and Agriculture. With presence in more than 15 countries and a workforce of over 15,000 personnel, ESG delivers integrated, cross-industry solutions that support national development and global expansion. Founded in 2008, the Group has built a strong financial and operational foundation, with total assets of AED 4.8 billion as of 31 March 2026. Guided by its commitment to innovation, integration, and resilience, ESG continues to strengthen its capabilities and deliver sustainable value, reinforcing its contribution to the national economy and expanding its presence regionally and internationally.
About IHC:
Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world's largest investment firms, with a market capitalization of AED 876 billion (USD 239 billion). Since then, it has transformed to represent a new generation of investors. IHC's commitment to sustainability, innovation, and economic diversification spans over 1,300 subsidiaries, driving growth across 4 key sectors: Technology, Infrastructure, Financial Services and Consumer.
IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts.
At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment.
Media Contacts
Simon Hailes
Managing Director, Head of Edelman Smithfield Middle East
IHC@edelmansmithfield.com
+971 50 973 1173
