IHC posts Dh84.6 billion revenue in first nine months

International Holding Company (IHC) has reported a robust financial performance for the first nine months of 2025, with revenue surging to Dh84.6 billion, marking a 32.3% increase compared to the same period last year. Net profit rose to Dh19.5 billion, up 8.3% year-on-year, underscoring the company’s operational strength and strategic diversification.

The third quarter alone saw revenue climb to Dh29.9 billion, a 34.6% jump from Q3 2024, while net profit soared 53% to Dh8.7 billion. Gross profit for the quarter reached Dh7.5 billion, reflecting a 46.7% year-on-year increase.

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CEO Syed Basar Shueb attributed the strong results to IHC’s disciplined portfolio management and its ability to create long-term value across industries. “Our nine-month performance reflects the enduring strength of IHC’s diversified model,” Shueb said. “We continue to deliver sustained growth, operational resilience, and long-term shareholder value.”

IHC’s growth was fueled by solid performances across its key segments:

- Real Estate & Construction: Dh34.1 billion in revenue, up 50.4%, led by Modon and Aldar.

- Marine & Dredging: Dh21.6 billion, up 11.1%, driven by NMDC Group’s global expansion.

- Hospitality & Leisure: Dh7.3 billion, a 65.4% increase, reflecting rising global demand.

- Services & Other Segments: Dh12.5 billion, up 37.9%, supported by diversification in healthcare, mining, and logistics.

Total assets reached Dh462.1 billion as of September 30, a 15% increase from year-end 2024. Equity rose to Dh267.8 billion, while cash reserves stood at Dh56.9 billion. Return on equity was 11%, and return on assets 6.4%.

IHC’s momentum was bolstered by a series of high-profile acquisitions and partnerships:

- Launch of RIQ, an AI-native reinsurance platform backed by BlackRock and Lunate.

- Multiply Group acquired a majority stake in European fashion retailer Tendam.

- Alpha Dhabi expanded its luxury hospitality footprint with a controlling stake in NCTH.

- Entry into strategic metals via a 56.23% stake in Alphamin Resources.

- Acquisition of Emdad, enhancing oilfield services capabilities.

- Strengthening financial services with a majority stake in Reem Finance.

- Expansion in food security through acquisitions of Al Jazira Poultry Farm and Arabian Farms.

- Renewable energy push with the acquisition of UK-based Good Energy.

Subsequent developments included the merger of Multiply Group, Ghitha Holding, and 2PointZero into a Dh120 billion investment entity, and the record divestment of IHC’s stake in Modon Holding. IHC also entered Pakistan’s financial sector with a majority stake in First Women Bank Limited and announced a $1 billion investment in India’s Sammaan Capital.

IHC continued to strengthen its global presence and sustainability credentials. It led a delegation to the 80th UN General Assembly and received multiple accolades, including Forbes Middle East’s “Most Sustainable Projects” award. Aldar issued $290 million in Green Sukuks, and Emirates Driving Company earned an MSCI AAA ESG rating.

Outlook

With assets exceeding Dh460 billion and a strong liquidity base, IHC is poised for continued global expansion. The company remains committed to disciplined capital deployment and building dynamic value networks that connect innovation with long-term capital. 

Somshankar Bandyopadhyay

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somshankar@khaleejtimes.com

Somshankar Bandyopadhyay is a News Editor with close to three decades of experience. Currently, he manages the business section, ensuring that the top economic and business news of the day reaches its readers.