Alpha Dhabi Holding has announced strong financial results for the half-year ended 30 June 2022. In H1 2022, the Group reported a net profit of 7.9 billion dirhams, up significantly from the corresponding period last year of 1.7 billion dirhams.
Revenues saw positive contributions and cross-sector growth across its verticals year-on-year.
On a half-yearly basis, the Group continued to show the strength of its business model, operating structure, and ability to execute on its growth strategy with revenues of 17.1 billion dirhams, up considerably year-on-year from 5.5 billion dirhams for the same period last year.
Overseas revenue accounted for 2.1 billion dirhams up to 30 June 2022, representing a 514 percent increase year-on-year.
In April 2022, the Group increased its stake in Aldar Properties, solidifying its position as a long-term, strategic shareholder. As a result, Alpha Dhabi was able to appoint a majority of Aldar’s Board of Directors resulting in it becoming Aldar’s parent company.
Hamad Al Ameri, CEO of Alpha Dhabi Holding, said “Alpha Dhabi has reported a record-breaking set of results with a net profit of almost AED 8 billion that showcases its resilience and the diversified nature of our platform. The company’s market listing has provided a solid foundation for us to create more value in the future.”
“We are also looking for investments with a strategic element where we can leverage our platform, operating subsidiaries, and size to drive further growth,” he added.
This announcement follows the first full year since Alpha Dhabi’s successful direct listing on the Abu Dhabi exchange (ADX) in June 2021 and its transformation into one of the largest investment holding companies in the UAE. The first half of 2022 has seen Alpha Dhabi ramp up transaction activity, building on its strong momentum and performance since its listing on ADX, both on the strategic and financial fronts across its core verticals.
Furthermore, Alpha Dhabi’s total assets more than doubled from 47.3 billion dirhams at the end of 2021 to 101.3 billion dirhams as of H1 2022 – providing the Group with a solid platform and scale to drive forward its growth ambitions.
As a result, Alpha Dhabi is capitalized, well-funded, and has a strong cash position of 16.6 billion dirhams to continue executing transactions and deploying capital as it carries on its expansion across its sectors and geographies of focus.
