ADX-listed Investcorp Capital achieved a net profit of $105 million for the fiscal year ended on June 30, 2024, a 7% decline compared to the $113 million obtained in 2023.
The provider of capital and capital financing services in the alternative investment space had a gross operating income of $132 million in 2024, compared to $126 million in 2023, according to a statement filed on the stock exchange.
The company also announced it has approved a total of $115 million in dividends, of which $60 million has been paid. This represents an annualised return of 13% for public shareholders since listing, meeting its commitment to deliver a minimum 8% dividend yield.
“We are pleased to deliver a strong inaugural set of full-year results since our listing in November 2023, achieving a net profit of $105 million,” said Mohammed Alardhi, Chairman of Investcorp Capital. “During the period, we have paid our dividend distribution in line with our commitment to investors and have expanded into the infrastructure asset class, as seen through our redevelopment project at New York’s JFK International Airport Terminal 6.”
Rohit Nanda, CFO of Investcorp Capital, added, “In our first year as a publicly listed company on the Abu Dhabi Securities Exchange, we have outperformed our targets.”
Nanda stressed that the company’s balance sheet is “robust and well diversified” with 70% invested in cash-generating assets. He highlighted the increase in Capital Financing Services and Capital Deployment revenues by 9% to $49 million and an increase in revenue from Capital Deployment to $76 million.
Investcorp Capital’s total assets for 2024 were $1.75 billion compared to $1.45 billion in 2023.