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Net profit of Alpha Dhabi Holding PJSC jumps 104% YoY in strong 2022 financial results.

by Prerna

March 4, 2023 3

Alpha Dhabi Holding PJSC, a rapidly expanding investment holding firm in the MENA region, announced strong financial results for the full year of 2022. The company’s net profit for the year reached Dh10.6 billion, an increase of 104% YoY from Dh5.2 billion, while revenues surged to Dh40.0 billion, representing a YoY increase of 114%. The strong results were mainly driven by contributions from the current portfolio and new acquisitions, particularly in core verticals such as real estate and construction, healthcare, and industrials.

According to Eng. Hamad Al Ameri, the CEO of Alpha Dhabi Holding, the company’s performance in 2022 was outstanding. The successful execution of its growth agenda resulted in an improved scale, diversification, and earnings growth across the Group. He also stated that the UAE economy and market have shown resilience to global economic headwinds and uncertainties, which underpins the company’s growth.

Al Ameri emphasized that the firm’s financial strength and accelerated growth are creating considerable sustainable value and positioning the company well for 2023. Alpha Dhabi Holding is committed to building on the strong transaction activity and performance momentum garnered in 2022, as the company continues to cement its position as a leading regional investment holding firm and a pivotal actor in the UAE’s thriving investment and business landscape.

Alpha Dhabi Holding has made notable investments in the past year, such as the acquisition of a 45% stake in the Greek luxury lifestyle company Nammos, valued at $1.5 billion. In addition, the firm also invested in a $500 million industrial complex in Abu Dhabi’s Khalifa Industrial Zone. The company’s strong performance in 2022 comes after the successful completion of its initial public offering (IPO) in 2021, which raised $1.2 billion.

Alpha Dhabi Holding’s real estate and construction segment saw significant growth in 2022, with the acquisition of Alpha Real Estate Investment Trust (REIT) for $2.2 billion and a 90% stake in Redwood Group Asia for $1.4 billion. The healthcare segment also experienced substantial growth, with the acquisition of a 51% stake in the medical services provider Amanat Holdings and the purchase of the leading healthcare provider VPS Healthcare.

Alpha Dhabi Holding’s strong financial results in 2022 demonstrate its ability to execute on its growth agenda and capitalize on opportunities in various sectors. With a robust portfolio of investments and an eye for strategic acquisitions, the company is well-positioned to continue its growth trajectory and maintain its position as a leading regional investment holding firm.