Alpha Dhabi Holding posted a net profit of Dh6.7 billion for the first half of 2024. Revenue for the period reached Dh29.3 billion, a 32% increase from the same period last year. The company’s net profit from operations surged by 92% year-on-year to Dh5.1 billion, while gross profit rose by 38% to Dh6.4 billion.
The company’s diverse portfolio, including the industrial, real estate and construction sectors, contributed to its strong financial performance. The industrial segment accounted for 41% of the revenue, real estate 30%, and construction 17%, with energy, hospitality and climate capital making up the remaining 12%.
Alpha Dhabi continued to expand its strategic investments. Its joint venture with ADNOC Drilling acquired a 51% stake in NTS AMEGA for approximately $58 million. PureHealth, another investment, reported a 53% year-on-year increase in revenue to Dh12.5 billion, driven by growth in the hospitals segment. National Marine Dredging Company secured new projects worth Dh8.4 billion, further bolstering the group’s backlog.
Aldar Investment Properties issued a $500 million green sukuk, which was four times oversubscribed. The proceeds will be used in line with Aldar’s Green Finance Framework. Additionally, Mawarid Holding Investment partnered with Plenty Unlimited Inc. to build an indoor vertical farm in Abu Dhabi, with plans to develop up to five farms across the GCC.
Alpha Dhabi’s total assets as of mid-2024 stood at Dh155 billion, with a cash balance of Dh20.7 billion and total equity of Dh81.2 billion.