Home Industry Finance Abu Dhabi-based Alpha Dhabi announces net profit of Dhs7.9bn in H1 2022 The group achieved revenues of Dhs17.1bn, up considerably year-on-year from Dhs5.5bn for the same period last year by Gulf Business July 29, 2022 Abu Dhabi-based investment holding company Alpha Dhabi Holding has announced it achieved a net profit of Dhs7.9bn in H1 2022, up significantly from the corresponding period last year of Dhs1.7bn. Revenues for the group saw positive contributions and cross sector growth across its verticals year-on-year. On a half yearly basis, the group achieved revenues of Dhs17.1bn, up considerably year-on-year (YoY) from Dhs5.5bn for the same period last year. Alpha Dhabi’s overseas revenue accounted for Dhs2.1bn up to June 30, representing a 514 per cent increase year-on-year. In April, Alpha Dhabi increased its stake in Aldar Properties, becoming Aldar’s parent company. Consequently, Alpha Dhabi’s financial statements include the results and financial position of Aldar as a subsidiary from the date of acquisition. This consolidation has transformed Alpha Dhabi’s financial position and added immense potential and growth opportunities to its already substantial platform. Read: Alpha Dhabi ups stake in Aldar, becomes single largest shareholder and parent company Engineer Hamad Al Ameri, CEO of Alpha Dhabi Holding, said: “Alpha Dhabi has reported a record-breaking set of results with net profit of almost Dhs8bn that showcases its resilience and the diversified nature of our platform. We have witnessed growth and strong contributions from all our verticals. Our excellent financial and investment performance also represents the transformative year that we have had and provides us with a solid foundation to build and drive further value going forward.” “As our platform continues to grow from strength to strength, we remain active in seeking and pursuing investment opportunities that meet our financial and return thresholds. We are also looking for investments with a strategic element where we can leverage our platform, operating subsidiaries and size to drive further growth. As we continue on our journey to build scale, we will also realise synergies and create significant value for our shareholders.” This announcement follows the first full year since Alpha Dhabi’s successful direct listing on ADX in June 2021 and its transformation into one of the largest investment holding companies in the UAE. The first half of 2022 has seen Alpha Dhabi ramp up transaction activity, building on its strong momentum and performance since its listing on ADX, both on the strategic and financial fronts across its core verticals. Over the last 12 months, Alpha Dhabi has continued to build scale, enhance diversification, balance its growing portfolio and deploy capital effectively through both organic growth and as well as strategic investments and acquisitions. These growth initiatives, along with the impact of consolidating Aldar, have led to a sizeable increase in Alpha Dhabi’s total assets which have more than doubled from Dhs47.3bn at the end of 2021 to Dhs101.3bn in H1 2022. According to a statement by the company, Alpha Dhabi is capitalised, well-funded and has a strong cash position of Dhs16.6bn to continue executing transactions and deploying capital, as it carries on its expansion across its sectors and geographies of focus. It also said it remains well-positioned to deliver on its financial and strategic goals through 2022 and beyond. In recent news, Response Plus Holding, a subsidiary of Alpha Dhabi, and provider of remote health and emergency services in the GCC region, has reported a strong performance in the half-year results ending June 30. Read: Alpha Dhabi’s Response Plus Holding reports net profit of Dhs2.4m in H1 2022 Tags Abu Dhabi aldar properties Alpha Dhabi Holding H1 2022 financial results 0 Comments You might also like US private credit firm Golub Capital to set up base in Abu Dhabi ‘Make Bitcoin Great Again’: Eric Trump attends Abu Dhabi crypto gathering Space42 teams up with ICEYE to manufacture SAR satellites in UAE Polen Capital to open Abu Dhabi office in Middle East expansion push