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Alpha Dhabi’s H1 Net Profit Soars to AED 10.3 billion Driven by Strategic Expansion and Investments

  • Six-month financial performance showcases robust revenue at AED 22.1 billion and net profit at AED 10.3 billion, signifying growth of 29% and 30% y-o-y respectively.
  • Successful investments propel growth across diversified sectors, consolidating Alpha Dhabi’s position as a leading regional investment holding company.

Eng. Hamad Al Ameri, CEO of Alpha Dhabi Holding, said:
“Alpha Dhabi's dynamic performance in the first half of the year showcases our strength and the resilience of our diversified portfolio. With a noteworthy revenue of AED 22.1 billion and net profit soaring to AED 10.3 billion, we have experienced significant growth and are steering clear of the global market uncertainties.”

“As we navigate the rest of the year, we remain steadfast on our commitment to enhance our core investment activities through strategic partnerships and acquisitions. The joint venture with Mubadala is a testament to our ambition, aiming to deploy up to AED 9 billion into global credit opportunities. This joint venture not only reinforces our investment diversification strategy but also paves the way for Alpha Dhabi to enter into the private credit market.” “We are proud of the growth and expansion we've achieved thus far and remain committed to further strategic developments. Our strong cash position of AED 17.6 billion allows us to confidently invest in growth opportunities across a variety of sectors and geographies and make astute investment decisions that add value to our portfolio and benefit our shareholders in the short and long term.”

Alpha Dhabi Holding PJSC (“Alpha Dhabi” or “the Group”), one of the fastest-growing investment holding companies in the MENA region, listed on the Abu Dhabi Securities Exchange (ADX: AlphaDhabi), has announced its financial results for the six-month period ending 30 June 2023.

Alpha Dhabi posted remarkable H1 2023 financial results, reporting a Group net profit of AED 10.3 billion, marking a significant increase of 30% year-on-year. The robust results reflect the Group's strategic implementation across key verticals and its unwavering commitment to generating enhanced shareholder value. Alpha Dhabi’s revenue also saw substantial growth, reaching AED 22.1 billion, a remarkable 29% increase year-on-year from the same period last year.

The first half of the year has been characterized by increased revenue across all business segments, alongside the positive impact of strategic acquisitions and investments made since 2022, primarily due to the consolidation of Aldar Properties PJSC starting Q2 2022.

Alpha Dhabi has also broadened its investment horizon, forming a joint venture with Mubadala Investment Company to co-invest in credit opportunities. Both Alpha Dhabi and Mubadala plan to collectively deploy up to AED 9 billion over the next five years, utilizing Mubadala’s strategic partnership with Apollo (NYSE: APO), one of the world’s largest alternative asset managers, to access high-quality private credit investment opportunities. Additionally, the Group made strategic acquisitions in companies Including ADMO lifestyle Limited, and National Corporation for Tourism and Hotels, demonstrating Alpha Dhabi's commitment to expanding and diversifying its investment portfolio.

The Group's balance sheet remains resilient with AED 127.9 billion in total assets and a robust cash position of AED 17.6 billion. The slight decrease in total assets and cash balance is mainly due to the derecognition of Pure Health Holding and the utilization of excess cash by the Group.

Alpha Dhabi’s diverse portfolio has been a significant driver of its revenue growth, with all segments delivering notable performance and contributing to the increase in profit. The company’s portfolios in real estate, industrial, construction, services and other sectors, also contributed significantly, representing 23%, 31%, 19%, and 15% of the total revenue, respectively.

Guided by its robust operating model, financial strength, and agile investment approach, Alpha Dhabi continues to be well-positioned to drive further growth and capitalize on investment opportunities. The Group’s focus on strategic acquisitions, geographic diversification, and rigorous corporate governance practices across the board ensures that the company continues to deliver strong and sustainable returns for its shareholders.