Abu Dhabi, UAE— Alpha Dhabi Holding has posted a 150 percent increase in net profit to $2.45 billion in the first nine months of 2022, up from $980 million.
Revenues also grew significantly standing at $7 billion, representing a year-on-year increase of 133 percent with strong contributions from the existing portfolio in the healthcare sector, which continue to see strong demand, and from the real estate, construction and industrial verticals, which continue to be strong drivers of growth for the Group.
Hamad Al Ameri, CEO of Alpha Dhabi Holding, said, “Alpha Dhabi has delivered another set of record financial results as we continue to cement our position as a leading regional investment holding company. Our diversified business continues to grow from strength to strength with a positive market sentiment in the UAE, underpinned by strong economic fundamentals and a buoyant capital markets landscape in contrast with the global outlook.”
“Over the year, we deployed and committed a significant amount of capital adding considerable scale and diversification to our portfolio as we expanded into new markets and enhanced earnings growth across our platform. Looking ahead and backed by a strong liquidity position, we will remain active on the investment and acquisition front as we continue to deploy capital effectively in value-accretive opportunities that meet our strict return thresholds and also allow us to build scale and diversify our platform further while creating value for our shareholders,” he added.
Alpha Dhabi continues to pursue acquisitions and investments as part of Its growth strategy and has announced several key transactions over the quarter.
This includes the acquisition (subject to closing and regulatory approvals) – through Alpha Dhabi’s subsidiary Pure Health – of a minority equity stake in Ardent Health Services, the fourth largest privately held acute care hospital operator in the U.S which will serve to add both scale and diversification to Alpha Dhabi’s growing healthcare vertical.
Furthermore, Alpha Dhabi continues to build on its ESG and sustainability commitment and credentials having acquired a minority stake in Kalyon Enerji, a clean and renewable energy company based in Turkey at the beginning of October.
This transaction also represents Alpha Dhabi’s first foray into the Turkish market as it continues to execute on its diversification strategy and capitalize on investment opportunities in new markets.
Alpha Dhabi’s portfolio expansion outside the UAE continues to bear fruit with overseas revenue accounting for $926 million year-to-date 2022, representing a 160% increase year-on-year.
Alpha Dhabi’s balance sheet remains strong and continues to grow with $30 billion in total assets, up significantly from year-end 2021 on the back of strong investment activity and the recent consolidation of Aldar Properties.
The Group remains well-funded with a strong cash position of $4. 62 billion to support and drive the execution of the Company’s growth and expansion across both sectors and geographies.
Through our strong operating model, financial position, capital deployment track record and agile investment approach Alpha Dhabi remains uniquely positioned to continue to drive growth further and capitalize on investment opportunities while also generating value for shareholders in both the short and long term.