Abu Dhabi (Etihad)
Amanat Holding Company announced its audited financial results for the year ending December 31, 2023, as revenues increased by 40% on an annual basis, reaching 718.1 million dirhams in the fiscal year 2023, driven by almost double growth in the education platform, and a 14% growth in the care platform. Health.
The company said, in a statement yesterday, that profits before taxes, interest, amortization and amortization increased by 46% on an annual basis, to reach 274.3 million dirhams in 2023, and adjusted net profit before tax and zakat increased by 38% on an annual basis, to reach 159.3 million dirhams in 2023. .
The cash balance amounted to 582.3 million dirhams at the end of the year, while maintaining low debt levels, which allows the possibility of harnessing capital for growth opportunities. With this comes a proposal for cash dividends worth 50 million dirhams for the fiscal year 2023, with plans to distribute interim dividends during the year 2024. .
The company has a strong growth trajectory across both platforms, supported by effective expansion plans with the aim of creating more value and raising potential monetization potential, leading to increased shareholder returns.
Dr. Shamsheer Vayalil, Chairman of Amanat, said: In 2023, our leading assets continued their strong growth path, which was reflected positively in our financial results, and my focus in the future will be on working with the management team to build and accelerate our platform’s growth plans, and take advantage of favorable demographics and economics. Which is driving demand growth in the healthcare and education sectors. In addition to our focus on platform growth, we continue to explore opportunities to increase shareholder returns, by leveraging monetization potential.
For his part, John Iarland, CEO of Amanat, said: “Amanat achieved record results in 2023, and maintained its strong growth path, with revenues and earnings before taxes, interest, amortization and amortization rising by 40% and 46% on an annual basis, respectively, and looking to the future we see Positive momentum across our platforms. Our focus is on driving growth by increasing student enrollment rates in the UAE, expanding the scope of special education needs in Saudi Arabia, as well as increasing bed capacity in our long-term care platform in both the UAE and Saudi Arabia.”
2024-03-29 22:58:43
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