Abu Dhabi's IHC posts record revenue and EPS growth for 2023

Preliminary net profit remains strong at Dh32,748 million.


Somshankar Bandyopadhyay

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The offices of International Holding Company in Abu Dhabi. — Supplied photo
The offices of International Holding Company in Abu Dhabi. — Supplied photo

Published: Mon 5 Feb 2024, 10:55 PM

International Holding Company (IHC), a leading investment conglomerate based in Abu Dhabi, said its preliminary net profit for the year ended December 31, 2023, stood at Dh32.748 billion

The Group’s Preliminary Revenue soared to Dh60.089 billion, marking an 18 per cent increase from the previous year’s Dh50.946 billion. This significant revenue growth is attributed to the company’s strategic acquisitions and the enhanced financial performance of its existing businesses, aligning with the management’s strategic vision for the Group.

Earnings per Share (EPS) saw a substantial rise, more than doubling from Dh6.81 to Dh12.36, reflecting the company’s strong profitability and the value generated for its shareholders.

Ihc’s subsidiaries operate across diverse sectors of; real estate & construction, utilities, healthcare, food & agriculture, marine & dredging, services. The group saw further expansion across hospitality, sustainability, ai & technology and financial services & asset management.

IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE and has grown to become the most valuable listed holding company in the Middle East with a market cap of Dh899 billion as of January 5, 2024.

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