Alpha Dhabi Holding reported a net profit of Dh11.1 billion for the nine months ending September 30, 2024, showcasing significant growth across its business sectors.
This represents an 83% increase in operating net profit, totalling Dh7.5 billion, compared to the same period last year. The company attributed the growth to strategic acquisitions and investments made since 2022.
The Group’s revenue reached Dh44.2 billion, marking a 36% year-on-year increase. Key contributions came from its Industrial division, generating Dh18.5 billion, Real Estate at Dh13.2 billion, Construction at Dh7.6 billion, and Services & Others at Dh4.9 billion.
“2024 has been a year of action for Alpha Dhabi where we’ve made significant leaps forward as an organisation across key areas,” said Mohamed Thani Murshed Ghannam Al Rumaithi, Chairman of Alpha Dhabi Holding.
“More specifically, our performance has been shaped by the strategic decisions we made in recent years such as investments and acquisitions, as these continue to bear fruit and deliver impact. As we focus on the remainder of the year, we aim to continue pushing forward with our current momentum to maximise new and existing areas of growth.”
During this period, Alpha Dhabi also strengthened its financial standing with total assets reaching Dh170.4 billion, a 21% increase year-on-year, and a cash balance of Dh23.9 billion. Total equity stood at Dh93 billion.
