DTC sets IPO offer price range
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Saab 2022 net profit at $211m
Revenue rose as countries boost military spending.
- Order intake for the Swedish company totaled US$6.1 billion in 2022, a 45 percent increase from the previous year.
- They soared by 144 percent in the fourth quarter alone to US$2.8 billion year on year.
Business
Multiply Group 2022 net profit
Growth in profits driven by investments and rise in operating portfolio.
- The Group said that most of its subsidiaries showed growth in operating profits in 2022.
- It deployed more than AED12 billion in 2022, making investments in high-growth industries such as energy.
Business
TECOM reports $0.54bn revenue
The group maintained a healthy debt profile.
- The results showed strong demand for the Group's commercial and industrial properties, supported by Dubai's strong macroeconomic environment
- Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 15 percent year-on-year to $0.36 billion
Business
Aldar posts net profit of $0.84bn
The company's revenue in 2022 rose to $3.04bn.
- The company announced a Q4-2022 net profit of $0.27 billion, up 28 percent YoY
- The company's revenue in 2022 rose to $3.04 billion, up 31 percent YoY
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Industries Qatar’s profit surges
The company saw a 9 percent increase in its net profit.
- The company's board recommended cash dividend of QR 1.1 per share, equivalent to 110 percent of the nominal value of the share
- Incorporated as a Qatari joint stock company on April, 19, 2003, Industries Qatar has a share capital of QR 6,050 billion
Business
Credit Suisse 2022 loss $7.9bn
Since March 2021, bank's stock lost over 75% of value.
- The Zurich-based lender had waved goodbye to more than eight billion Swiss francs during the global financial crisis 15 years ago
- Credit Suisse recorded net asset outflows of 110.5 billion Swiss francs in the fourth quarter of last year alone, mostly in October
Business
AstraZeneca 2022 profit $3.3bn
The firm's revenues rose to US$44.4 billion in 2022.
- Investors welcomed AstraZeneca's earnings update, with its share price rallying five percent to US$13.7 in London.
- The annual net profit was boosted by cancer treatments and the integration of biotech unit Alexion following a takeover.
Business
Volvo Cars 2022 net profit $1.6bn
Revenue climbed by 17 percent to a record US$31.8 billion.
- Electric cars accounted for 11 percent of sales last year, compared to four percent in 2021.
- Volvo Cars accelerated towards the aim of becoming a fully electric car company by the end of the decade and climate neutral by 2040.
Business
ADNOC Distribution 2022 net profit $748m
The EBITDA grew by 15 percent to reach AED3.52 billion.
- Total fuel volumes continued to increase during the year, recording an 8 percent year-on-year growth through 2022 – with commercial fuel volumes up by 19 percent.
- The Company’s Board of Directors has recommended distributing a cash dividend of AED1.285 billion (10.285 fils per share), for the second half of 2022.
Business
ArcelorMittal 2022 profit $9.3bn
Profit was affected as demand for steel fell and production hit.
- ArcelorMittal took a $1 billion hit after suspending production at its Ukrainian factory in Kryvyi Rig.
- The conflict "resulted in low levels of production, sales and income and created significant uncertainty about the timing and ability" of operations.
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Naufar partners with MEEZA
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EDGE signs MoU with MBRSC
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Solutions+, EIH sign MoU
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MBC Group IPO plea okayed
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Yalla 9M revenue at $237.9m
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DTC sets IPO offer price range
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PureHealth to list on ADX
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Rolls-Royce makes record deliveries
It delivered 6,032 cars in 2023, the highest in its 119-year history.
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ADQ appoints new ADX chairman
The company also appointed two new Board directors.
- Ghannam Butti Al Mazrouei is the Secretary-General of the Emirati Talent Competitiveness Council, where he oversees an AED24bn program.
- Al Mazrouei also serves on the boards of Abu Dhabi Retirement Pensions and Benefit Fund and AafaQ Islamic Finance.
Business
Avalon sets sights on Tadawul listing
The firm will offer 6 million shares in its Initial Public Offering.
- The book-building process for Avalon Pharma's IPO will commence on January 14th and conclude on January 18th.
- In the event that there is sufficient demand by Individual Investors, the number of shares initially allocated to participating parties will be reduced to 5.4 million shares.
Business
Dragon Oil, Turkmennebit ink MoU
Aim is to expand Dragon Oil’s investments in Turkmenistan.
- Dragon Oil has been engaged in oil and gas cooperation with Turkmenistan on the basis of a production sharing agreement since 2000.
- The company’s primary focus is on the extraction of hydrocarbon resources in the Caspian Sea, in the Cheleken Contract Area.