Abu Dhabi (Etihad)
Shuaa Capital achieved 40 million dirhams of net profit during the year 2021, compared to 125 million dirhams during 2020, a decrease of 68%.
This outcome included a one-time provision. On the basis of similar measurement, the company’s net profit was supposed to be 229 million dirhams in 2021. EBITDA also decreased from 350 million dirhams in the fiscal year 2020 to 233 million dirhams in 2021, amounting to 422 million dirhams When calculating the net non-recurring items.
Jassim Al Seddiqi, CEO of Shuaa Capital Group, said: “I am very pleased with the progress that Shuaa has made during 2021. With the disposal of investments, legacy portfolios and non-core assets approaching, our focus is now on increasing revenues and shareholder returns while maintaining our strict approach to controlling costs. We are confident that we will be able to seize the many business opportunities available to our company in the long term.”
