This growth reflects the International Holding Company’s commitment and continuous efforts to provide better value to shareholders by implementing its strategic plans in a disciplined and highly efficient approach across all its core business sectors.
She said International Holding In a statement on Abu Dhabi Market Finance said that its revenues rose during the first nine months of 2024 to 64 billion dirhams ($17.5 billion), achieving a strong increase of 49.4 percent year-on-year. This performance is driven by strong contributions from the sector Real estate And construction in the International Holding Company.
This strong momentum is attributed to the growth in Aldar’s revenues thanks to strong sales of its development projects, rising revenues from strategic acquisitions and new projects, in addition to the mergers of Mudon, Abu Dhabi National Exhibitions Company (ADNEC), Meza Investments and other assets under the umbrella of Mudon Holding (formerly Q Holding).
The marine and dredging business sector witnessed positive performance, after NMDC recently won several projects and steady progress in its current projects.
Thanks to strong gains from core sectors and significant asset growth following these strategic deals during the first nine months, it stands International Holding Company Ideally positioned to continue the growth trajectory and record outstanding performance during the last quarter.
The International Holding Company also announced achieving profits before interest and taxes of 21.8 billion dirhams, an increase of 24.9 percent year-on-year, while total assets reached 382.9 billion dirhams ($104.3 billion), representing an increase of 44.9 percent since December 2023, driven by Through strategic investments and transfer of ownership of huge assets. The cash and bank balance of the International Holding Company increased by 43.9 percent, reaching 48.8 billion dirhams, which enhances the company’s ability to seize more growth opportunities.
The most notable achievements of the International Holding Company Group during the third quarter of 2024:
- International Holding Company and its subsidiary Sirius International Holding launched Rorix Holdings, a company specialized in financing and trade facilitation and focusing on trade finance, consulting, commodities and insurance solutions, which strengthened International Holding Company’s presence in Global financial services sector.
- Enersol has acquired EV Holdings to advance advanced diagnostics and analysis in the oil and gas industry through advanced well imaging technologies and drive innovation in energy solutions.
- NMDC Energy Group, the largest engineering, procurement and construction contracting company in Abu Dhabi, was successfully floated on the Abu Dhabi Stock Exchange through a successful initial public offering, where demand exceeded the shares offered by 31.3 times.
- Al Ain Farms intends to expand its operations in the Kingdom of Saudi Arabia through the acquisition of “Seha – Arabian Farms”, which will contribute to strengthening the “Food Holding” footprint in the poultry and livestock production sectors, and thus consolidating the international holding company’s position in the agricultural business sector in the region.
- Sawaeed Holding Company acquired both the United International Group and Progressive Real Estate Development, which contributed to strengthening its position under the umbrella of the Emirates Stallions Group as a leading platform for workforce services and workers’ housing, thus enhancing the capabilities of the International Holding Company at the regional level.
- International Holding Company, through its subsidiary International Financial Assets Holding, has acquired eFunder, the leading digital financing platform that provides small and medium-sized businesses with continuous cash flows against outstanding accounts.