Multiply Group third quarter revenue surges 191% year on year

Multiply Group, the Abu Dhabi-based investment holding company, posted a group net profit of Dh1.95 billion for the third quarter of 2025, reflecting a 191 per cent year-on-year revenue growth across its operating portfolio. The quarter was marked by a gain of Dh2.7 billion from the disposal of PAL Cooling Holding and a net impairment loss of Dh845 million related to Kalyon Enerji. 

Adjusted earnings before interest, taxes, amortisation and depreciation (Ebitda) stood at Dh597 million, up 56 per cent year-on-year, driven by organic growth and the consolidation of Tendam, a leading European fashion retailer acquired earlier this year.

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The Group’s operating businesses contributed Dh1.22 billion in revenue and Dh100 million in net profit, with strong performances across Media & Communications, Mobility, Wellness & Beauty, and Retail & Apparel verticals. Multiply Group’s public market investment arm, Multiply+, closed the quarter with a portfolio valuation of Dh31.5 billion, against an invested amount of Dh14.7 billion.

In a major strategic development, Multiply Group’s Board has approved a proposal to acquire 2PointZero and Ghitha Holding via a share swap. The transaction, subject to shareholder and regulatory approvals, will result in the issuance of 23.36 billion new shares, expanding Multiply’s share capital from Dh2.8 billion to Dh8.64 billion. Upon completion, the merged entity will comprise 34.56 billion shares, forming a Dh120 billion diversified investment group.

2PointZero brings scalable assets in energy, mining, and financial services, positioning itself as an AI enabler and energy transition accelerator. Ghitha Holding, meanwhile, operates across agriculture, food production, and distribution, playing a critical role in regional food security. Together, these companies will reinforce Multiply’s focus on the Energy and Consumer sectors, two foundational pillars of the global economy.

Multiply Group plans to consolidate its energy-related assets under a newly formed Energy Vertical within 2PointZero, integrating entities such as Kalyon Enerji, El Sewedy Electric, EHC Investment, International Resource Holding, and its stake in TAQA. This reorganisation aims to unlock operational synergies and enhance capital deployment.

Samia Bouazza, Group CEO and Managing Director, emphasized the strategic importance of the merger:  “This strategic merger is more than a consolidation of balance sheets – it’s the convergence of vision, purpose, capital, megathemes, and exceptional teams. Together, we are forming a balanced and diversified investment group spanning energy, food, logistics, packaging, mining, apparel, media, mobility and beauty, with a presence across 85 countries. Our focus is to grow our bottom line both organically and inorganically, to unlock value through AI, and to deliver consistent, long-term returns for our shareholders.”

Chairman Syed Basar Shueb added: “This transaction represents a natural evolution of our portfolio strategy, designed to optimize scale and strengthen the platforms we have built over the past years.”

Multiply Group remains committed to disciplined capital allocation and strategic expansion. With a strong balance sheet, a growing global footprint, and a clear focus on high-return sectors, the Group is well-positioned to deliver long-term value to shareholders. The proposed acquisitions, alongside recent investments in Tendam, ISEM Packaging, and Mwasalat Holding, underscore Multiply’s ambition to become a globally competitive investment powerhouse.

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.