• Strong performance during the first quarter of 2022 with record revenues of 8.17 billion dirhams, an annual increase of 700%
• Continued growth in assets totaling 52.56 billion dirhams by the end of the first quarter of 2022
Abu Dhabi, United Arab Emirates: Alpha Abu Dhabi Holding Company PJSC announced: (“Alpha Abu Dhabi” or the “Company”), one of the fastest growing investment holding companies in the United Arab Emirates, listed on the Abu Dhabi Securities Exchange with the symbol: ADH; its financial results for the first quarter of 2022.
These results represent the first set of financial results for the company’s first quarter since the successful listing of its shares on the Abu Dhabi Securities Exchange directly in June 2021, and its transformation into one of the largest investment holding companies in the UAE. Accordingly, the figures for the same period in 2021 represent the last period of the company before switching its course and listing its shares in the financial market.
Alfa Abu Dhabi continued its strong momentum during 2021 and announced strong financial results during the first quarter of 2022, with net profit of AED 2.84 billion, a significant increase from AED 100 million on an annual basis. The company’s revenues rose significantly to 8.17 billion dirhams for the first three months of 2022, an annual increase of 700%, and this is attributed to the company’s significant investments in the healthcare sector, which continues to witness strong demand, and real estate investments, construction and industrial works, which Still driving the company’s growth.
As part of its plans to achieve growth and expansion, Alpha Abu Dhabi continued to expand its large portfolio through notable acquisitions and investments, with a total value of 5.21 billion dirhams, which contributed to the growth of assets during the first quarter of 2022, as the total assets amounted to 52.56 billion dirhams, compared to 47.35 billion dirhams at the end of 2021.
The major strategic investments and acquisitions made by the company during the first quarter of 2022 included the acquisition of 75% of W Solar, which works in the field of clean and renewable energy, which enhances the company’s position and commitment in the field of environmental, social and corporate governance. Alpha Abu Dhabi has also made two acquisitions to strengthen its healthcare portfolio, which continues to achieve strong performance in it, by acquiring a stake of
70.8% of the Yas Clinic Group and a 70.8% stake in Tamouh Healthcare. The company expanded its portfolio further after investing 847 million dirhams in a joint venture to establish a new digital banking platform called Wio.
Thanks to its well-thought-out investment approach, future investment projects and an active and flexible investment team, Alpha Abu Dhabi will continue to invest capital effectively, and search for successful business and investment opportunities that achieve profitability and add more value to its portfolio, and at the same time, it will pursue its plans to diversify and expand its portfolio from through more acquisitions.
The company has maintained a strong financial position with a good level of liquidity, and the financial position includes a cash balance of approximately 5.81 billion dirhams, through which the company will support and implement its expansion plans at the levels of sectors and geographical regions. Alpha Abu Dhabi was able to strengthen its position in the market, which contributes to achieving its strategic, financial and growth aspirations during 2022 and beyond thanks to its diversified portfolio of businesses and investments, as well as its strong financial performance, strong balance sheet pillars, and capital available for investment.
Commenting on this, Eng. Hamad Al Ameri, CEO of Alpha Abu Dhabi Holding Company, said: “Alpha Abu Dhabi continues to achieve strong performance and record results during the first quarter of 2022, which reflects the growing momentum and successful transformational path of our business. We have not only achieved excellent financial results, but We have also succeeded in diversifying our investments and enhancing the scope of our investments through acquisitions and strategic investments.We are optimistic about the future, as we seek to enhance our growth through the efficient use of capital in strategic investments, including increasing acquisitions and business combinations in our core and target sectors across sectors and regions. geographical area in order to achieve more value for our shareholders.
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About Alpha Abu Dhabi Holding:
Founded in 2013, Alpha Abu Dhabi Holding is a listed group in the United Arab Emirates. The company is one of the fastest growing investment holding companies in Abu Dhabi, and includes under its umbrella more than 100 companies in the fields of health care, agriculture and petrochemicals, in addition to real estate, construction, hospitality and other sectors.
other. With more than 80,000 employees, the company is a strategic supporter of the UAE economy committed to achieving continuous growth for its stakeholders by investing in start-ups and supporting innovation and diversification.
For media inquiries:
Alpha Abu Dhabi Holding
Ziad Shaker Abu Rayan | Investor Relations Officer [email protected]
Brunswick Media Consulting Group
Dominic Whiting / Jad Muammarbashi [email protected]