Abu Dhabi-listed 2PointZero Group reported revenue of AED 33.7B and net profit of AED 9.5B for the nine months ending 30 September 2026 as the investment holding company expanded its energy portfolio across the US and Africa.
Revenue increased 106% year on year on a pro forma basis, while net profit rose 33%, reflecting the integration of Tendam and the group’s formation following a mega-merger.
Net profit included AED 5.8B in net fair value gains on investments.
Adjusted EBITDA reached AED 7.5B after excluding fair value movements and one-off items, with operating profit accounting for 33% of reported net profit.
The group ended September with AED 15.7B in cash and bank balances and total assets of AED 155B. Its net debt-to-equity ratio stood at 0.21 times.
Samia Bouazza, 2PointZero Group CEO, said AI initiatives across its subsidiaries had contributed to operating performance, while the group remained focused on generating sustainable earnings from its operating businesses.
“Our net profit also reflects significant fair value gains on our investment portfolio, and our focus remains on durable earnings from our operating businesses,” Bouazza said.
Energy expansion across the US and Africa
Energy infrastructure emerged as a central focus of the group’s expansion during the third quarter, with its subsidiary ePointZero completing its first U.S. natural gas investment and agreeing to enter African power generation.
In July, ePointZero acquired 100% of Traverse Midstream Partners for $2.25 billion in an all-cash transaction.
The investment gives the group minority, non-operated interests in two US midstream infrastructure assets: a 35% stake in the Rover Pipeline and a 25% stake in the Ohio River System, both operated by Energy Transfer.
The transaction, acquired from a portfolio company of The Energy & Minerals Group, marks 2PointZero’s entry into the US natural gas infrastructure market.
The group also agreed to acquire a 90% stake in Azura Power Holding: an independent power producer with operations across Nigeria, Senegal and Mozambique.
Azura Power has more than 750MW of operating generation capacity and a development pipeline exceeding 1.5GW. Its assets supply approximately 10% of the grid baseload power in each of the three countries.
The acquisition provides ePointZero with an established operating platform in African electricity generation, adding exposure to infrastructure assets with long-term demand and cash flow potential.
Bouazza said the two investments address bottlenecks across the energy value chain and would add scale and diversification to the group’s energy platform.
Portfolio reshaping and capital allocation
2PointZero also completed the sale of its entire 7.29% stake in Abu Dhabi National Energy Company (TAQA) in June to Abu Dhabi Power, an indirect, wholly owned subsidiary of L’IMAD Holding Company.
The disposal strengthened the group’s financial position and provided additional flexibility to pursue investments across energy, mining, consumer, food and packaging businesses.
The group said proceeds would support capital structure optimisation, balance-sheet strengthening and further investment in strategic sectors.
With AED 15.7B in cash and bank balances, Bouazza said the group was positioned to deploy capital through market cycles.
ADX listing broadens investor access
The group’s shares were added to the Abu Dhabi Securities Exchange’s single-stock futures offering during the reporting period, forming part of six new additions that expanded the exchange’s derivatives suite to 17 futures and 50 contracts.
The listing provides investors with additional instruments to hedge exposure and manage risk, while the integration of derivatives data into the Bloomberg Terminal is expected to improve the group’s visibility among international market participants.
Analyst coverage also expanded, with FAB Securities initiating coverage in June with a Buy recommendation and a target price of AED3.30 per share.
AI initiatives target operating efficiency
More than 30 AI workflows were developed during the initiative, which the group expects to return more than 4,000 working hours annually to employees for higher-value activities.
AI co-workers operating alongside teams accounted for more than 15%, according to the group, as it seeks to embed AI into its operating model.
Bouazza said AI-driven initiatives were contributing to operating performance, with the group seeking to build capabilities beyond the adoption of existing tools.
