The International Holding Company announced its financial results for the fiscal year ending December 31, 2023, which showed steady growth accompanied by record operating performance, notable achievements in the field of sustainability, and high-level financial results.
His Highness Sheikh Tahnoun bin Zayed Al Nahyan, Chairman of the Board of Directors of the International Holding Company, said: “The year 2023 was an exceptional year in terms of growth, concluding strategic partnerships globally, and strengthening our diversified investment portfolio, which enhanced our ability to face economic fluctuations and adapt to them. We were keen to consolidate our network of relationships at the global level, in line with our mission to support and advance the progress of the United Arab Emirates, as a pioneering country in the field of finance and innovation. The trust placed in us by investors was an incentive to continue creating added value, while our commitment to sustainability was reflected during our participation in the Conference of the Parties (COP28). By employing artificial intelligence technologies to enhance the efficiency and direction of our operations, we continue to work towards a future in which we promote sustainable growth across various industries and sectors, achieving added value, thanks to the support we enjoy from our Board of Directors and shareholders.”
During the year 2023, the International Holding Company recorded a strong financial performance, as revenues reached 60.1 billion dirhams, an increase of 17.9% compared to revenues in 2022, which amounted to 50.9 million dirhams. This is due to the major acquisitions carried out by the company, and its high financial performance as a result of record sales in the marine, dredging and real estate sectors.
The International Holding Company recorded strong net profits amounting to 32.95 billion dirhams, achieving a significant increase in earnings per share, which doubled from 6.81 dirhams to 12.55 dirhams, as a result of the high performance of all the companies of the International Holding Group in the sectors of real estate, construction, utilities, health care, food and agriculture, marine works, dredging and services. The group witnessed additional expansion in the sectors of hospitality, sustainability, artificial intelligence, technology and financial services, which embodies the strategic vision of the group’s management. The International Holding Company’s management’s commitment to growth and its launch of effective strategic initiatives have positioned it to achieve further growth in the coming years.
The most prominent acquisitions achieved by the International Holding Company during the year 2023 include the acquisition of Admo Lifestyle Holding, which is the joint venture of Alpha Dhabi Holding, of “Cla Vie”, the “Namoos” group, and “Umm Sharif” restaurants, to diversify its portfolio in the upscale restaurant and hospitality sector. And the establishment of Sirius International Holding Company to benefit from development technologies and digital transformation to achieve sustainability and combat climate change. Within the framework of sustainability initiatives, the International Holding Company participated in the Conference of the Parties (COP 28), to showcase the achievements of 19 of its subsidiaries, and launched the Proceed Center to contribute to achieving the UAE’s goals in the field of sustainability.
The International Holding Company also acquired 49% of Mudon Company in a strategic step to expand in the real estate and construction sector. The investment in the initial public offering of the Bitcoin mining company “Phoenix” contributed to strengthening the global holding company’s position in the field of blockchain and cryptocurrency solutions on a global scale.
Sayed Basr Shuaib, CEO of International Holding Company, said: “Recording record profits in 2022 contributed to laying strong foundations for high performance in 2023, which strengthened our financial position and expanded our leadership in priority sectors for Abu Dhabi’s economic future. Our achievements for the year 2023 were driven by the commitment of our human resources, whose stability and prosperity have always been a pivotal part of our institutional principles and directions, and the progress we have achieved will allow us to move forward towards stimulating future growth and diversifying our investment strategy across new markets.”
The establishment of 2Point Zero represents an important step in the General Holding Company’s strategy, and strengthens its position in the field of innovation, by focusing on technology, materials, resources and climate finance. The International Holding Company continues its endeavor to maintain growth across various sectors, as the company is committed to employing the latest technologies and directing investments and financial services in a step that reflects its commitment to the development and prosperity of the global economic scene.
2024-02-26 18:27:33
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