ADH revenue, profit up by end of Q3

A slew of acquisitions helped Alpha Dhabi Holding achieve a net profit of AED 3,649 million during the first nine months of 2021 against AED 185 million during the comparable period in 2020.
The conglomerate said it recorded a revenue of AED 11,425 million during the first nine months of 2021, equivalent to 341 percent year-on-year growth, driven by its investments in a diverse range of businesses.
These included the healthcare sector, where revenue contributed about 34 percent, and real estate, construction and industrial businesses about 57 percent of the total revenue.
In a statement, the company said it posted a gross profit of AED 3,766 million, while other income for the period was AED 191 million, mainly due to the dividend received from ADH’s investment in Aldar Properties.
The results for the nine months revealed that since the start of the year, ADH boosted its holdings in a range of strategic investments, including acquiring the entire share capital of Murban Energy Limited, which has investments in hospitality, facility management services and oil and gas services sectors.
The statement said it acquired 70 percent of the shares in Mawarid Holding Investment LLC, which is engaged in management services, 100 percent of the share capital of Sublime Commercial Investment, which holds ADH’s investment in Aldar Properties PJSC, 65.11 percent of the share capital of National Marine Dredging Company PJSC, the entity primarily engaged in offshore engineering, procurement and construction contracts.
Other acquisitions included 65 percent of the share capital of Sandstorm Motor Vehicles Manufacturing LLC., 100 of a hotel located in the Chechen Republic, 40 percent of Response Plus Holding, which is engaged in medical facilities management, 95 percent of Emirates Gateway Security Services (EGSS), the security solutions providers and increasing its stake in Purehealth, the integrated healthcare solutions provider, by 31.5 percent to 63 percent.
Hamad Al Ameri, the Managing Director and CEO of Alpha Dhabi Holding, said, “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.”