UAE’s Alpha Dhabi sees net profit rise by 104% to Dhs10.6bn

Alpha Dhabi Holding has reported its financial results for the full-year period ending December 31, 2022.

In 2022, Alpha Dhabi achieved a net profit of Dhs10.6bn, a robust rise of 104 per cent year-on-year from Dhs5.2bn.

This milestone has exceeded the initial guidance of Dhs10bn as net profit provided at the beginning of the year, showcasing the group’s ability to outperform its targets, according to a report published by the state news agency, WAM.

Revenues also experienced significant growth, reaching Dhs40bn, which represents an increase of 114 per cent year-on-year.

The growth was mainly driven by increased contributions from the existing portfolio and new acquisitions, particularly across core verticals such as real estate and construction, healthcare, and industrials.

These sectors continue to be key engines of growth for the group.

Alpha Dhabi on track for growth this year

Hamad Al Ameri, CEO of Alpha Dhabi Holding, commented on the results, stating, “Alpha Dhabi continues to go from strength to strength as we completed our first year as a listed company, which set the tone for 2022 and ushered a new phase of growth for Alpha Dhabi.

“We delivered a record set of results, driven by the successful execution of our growth agenda which continues to move forward at pace, resulting in enhanced scale, diversification, and earnings growth across our group.”

He added: “Looking ahead to 2023, we are committed to building on the strong transaction activity and performance momentum garnered in what was a transformational year.

“Our financial strength and accelerated growth are creating considerable sustainable value and will position us well for the year ahead as we continue to cement our position as a leading regional investment holding company and a pivotal actor in the UAE’s thriving investment and business landscape.”

Overall, Alpha Dhabi’s financial results for the full year 2022 demonstrate the group’s successful execution of its strategic priorities and its ability to generate significant returns for its shareholders, underpinned by the robust fundamentals of the UAE economy and market.

Recent partnerships

In January, the company and Mubadala Investment Company announced the formation of a joint venture to co-invest in credit opportunities.

Alpha Dhabi and Mubadala aim to collectively deploy up toDhs9bn (approximately $2.5bn) over the next five years, leveraging Mubadala’s long-term and strategic partnership with Apollo, one of the world’s largest alternative asset managers, to access high-quality private credit investment opportunities.

Mubadala will hold 80 per cent ownership in the Abu Dhabi Global Market-based joint venture entity, with the remaining 20 per cent to be held by Alpha Dhabi.

Read: UAE’s Alpha Dhabi, Mubadala to co-invest in global credit opportunities

In December 2022, Alpha Dhabi acquired an interest in Nammos Group as a result of its joint venture partnership with Monterock International, an international investment company with a focus on the hospitality and food and beverage (F&B) sectors.

This partnership marks the evolution of Alpha Dhabi’s luxury and lifestyle vertical which will focus on building a portfolio and driving the development of brands by scaling their reach, diversifying their offering and catalysing their growth.

The partnership involves the development of the Nammos World projects, an ambitious and scalable plan to extend Nammos’ reach and footprint globally as well as develop and diversify its offering as it continues to build on its status as a premier and luxury hospitality and F&B brand.

Alpha Dhabi and Mubadala formed a partnership with Mubadala to co-invest in global credit opportunities.

ألفا ظبي” و”مبادلة” تبرمان شراكة للاستثمار معاً في فرص الائتمان العالمية #investment #alphadhabi #adh #AbuDhabi pic.twitter.com/hyDWVwn4UH

— Alpha Dhabi Holding (@adh_uae) January 5, 2023

Read: Alpha Dhabi launches lifestyle vertical with investment in Nammos Group

The joint venture partnership established with Monterock int’l marks the launch of new lifestyle vertical. ADH has ambitious plans to build a leading and complementary global portfolio of luxury, lifestyle, F&B and entertainment brands. #investment #entertainment #luxury pic.twitter.com/l3tvElAm1j

— Alpha Dhabi Holding (@adh_uae) December 8, 2022