- Strategic acquisitions and practical business decisions drive revenue to AED 11,425 million and net profit to AED 3,649 million to end of Q3 2021
- Total assets jump to AED 36,740 million as at 30th September 2021
ABU DHABI, UAE, 25 October, 2021: Alpha Dhabi Holding, a strategic contributor to the UAE economy with a conglomerate of businesses across the platforms of construction, healthcare, hospitality, industry and strategic investments in promising sectors, announced today its financial results for the third quarter of 2021.
The Abu Dhabi headquartered company (ADX: ADH), achieved a strong growth percentage in its first quarter of trading on the ADX, according to the financial results of the company for Q3 ending September 30, 2021.
The results revealed that since the start of the year, ADH boosted its holdings in a range of strategic investments, including acquiring the entire share capital of Murban Energy Limited, which has investments in the hospitality, facility management services and oil & gas services sectors, 70% of the shares in Mawarid Holding Investment LLC, which is engaged in management services, 100% of the share capital of Sublime Commercial Investment, which holds ADH’s investment in Aldar Properties PJSC, 65.11% of the share capital of National Marine Dredging Company PJSC, the entity primarily engaged in off-shore engineering, procurement and construction contracts, 65% of the share capital of Sandstorm Motor Vehicles Manufacturing LLC., 100% acquisition of a hotel located in the Chechen Republic, 40% of the shares of Response Plus Holding PrJSC formerly “Response Plus Medical” (“RPM” Group), which is engaged in medical facilities management, increasing its stake in Purehealth, the integrated healthcare solutions provider, by 31.5% to 63% and acquired 95% of Emirates Gateway Security Services (EGSS), the security solutions providers.
Eng. Hamad Al Ameri, Managing Director and CEO of Alpha Dhabi Holding, said: “ADH has recorded remarkable growth over the year to date due to these strategic investments and our management’s vision of opportunistic growth. Since listing on the Abu Dhabi Securities Exchange in June 2021, we have continued along our growth path with a series of further strategic acquisitions and investments that reflect the company’s commitment to building a substantial portfolio by developing, acquiring, and investing in emerging companies, supporting innovation, diversity, and a total commitment to all our customers and shareholders while maintaining a sustainable business infrastructure. With these positive results, we have consolidated our presence in the Abu Dhabi financial marketplace and fulfilled our responsibility to enhance shareholder value by expanding our diverse portfolio in a variety of fields.”
The conglomerate reported revenue of AED 11,425 million during the first nine months of 2021, equivalent to 341% year-on-year growth, driven by its investments in a diverse range of businesses. These included the healthcare sector where revenue contributed about 34% of the total and real estate, construction and industrial businesses which contributed about 57% of total revenue (of which almost half relates to the National Marine Dredging Company.
Gross profit was reported at AED 3,766 million, while other income for the period was AED 191 million which was mainly due to the dividend received from ADH’s investment in Aldar Properties PJSC.
Net profit for the period grew to AED 3,649 million against AED 185 million during the comparable period in 2020, again driven by acquisitions in 2021.
ADH management confirmed its commitment to supporting and enhancing the core investment activities of the company to drive continuous growth in the coming months via the addition of new operating assets through acquisitions and business combination and implementing a robust policy of corporate governance across the ADH portfolio of businesses, supported by an effective framework of controls.
For more information on Alpha Dhabi Holding, please contact:
Phone: +971 55 1077949
© Press Release 2021