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Alpha Dhabi Holding revenues surge 341% on investments in a diverse range of businesses

Abu Dhabi - The Abu Dhabi headquartered company said the healthcare sector contributed about 34 per cent in total revenue while real estate, construction and industrial businesses shared approximately 57 per cent of total revenue generated during the January-September 2021 period

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Alpha Dhabi Holding (ADH) on Monday said its nine-month revenue surged 341 per cent year-on-year basis to Dh11,425 million this year due to its investments in a diverse range of businesses.

In a statement, the Abu Dhabi headquartered company said the healthcare sector contributed about 34 per cent in total revenue while real estate, construction and industrial businesses shared approximately 57 per cent of total revenue generated during the January-September 2021 period.

The National Marine Dredging Company shared significant share of the total revenue, it added.

Nine-month profits climb

Gross profit was reported at Dh3,766 million while other income for the period was Dh191 million which was mainly due to the dividend received from ADH’s investment in Aldar Properties.

“The company’s nine-month net profit climbed to Dh3,649 million from Dh185 million during the comparable period in 2020, again driven by acquisitions in 2021,” according to the company’s statement.

Hamad Al Ameri, nanaging director and CEO of Alpha Dhabi Holding, said ADH has recorded remarkable growth over the year to date due to these strategic investments and our management’s vision of opportunistic growth.

“Since listing on the Abu Dhabi Securities Exchange in June 2021, we have continued along our growth path with a series of further strategic acquisitions and investments that reflect the company’s commitment to building a substantial portfolio by developing, acquiring, and investing in emerging companies, supporting innovation, diversity, and a total commitment to all our customers and shareholders while maintaining a sustainable business infrastructure,” he said.

Strategic contributor to the UAE economy

Alpha Dhabi Holding is a strategic contributor to the UAE economy with a conglomerate of businesses across the platforms of construction, healthcare, hospitality, industry and strategic investments in promising sectors.

The company’s financial statement disclosed that ADH boosted its holdings in a range of strategic investments, including acquiring the entire share capital of Murban Energy Limited, which has investments in the hospitality, facility management services and oil and gas services sectors.

It also acquired 70 per cent of the shares in Mawarid Holding Investment, which is engaged in management services, 100 per cent of the share capital of Sublime Commercial Investment, which holds ADH’s investment in Aldar Properties, 65.11 per cent of the share capital of National Marine Dredging Company PJSC, the entity primarily engaged in off-shore engineering, procurement and construction contracts, 65 per cent of the share capital of Sandstorm Motor Vehicles Manufacturing, 100 per cent acquisition of a hotel located in the Chechen Republic, 40 per cent of the shares of Response Plus Holding, which is engaged in medical facilities management, increasing its stake in Purehealth, the integrated healthcare solutions provider, by 31.5 per cent to 63 per cent and acquired 95 per cent of Emirates Gateway Security Services (EGSS), the security solutions providers.

— muzaffarrizvi@khaleejtimes.com

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