Alpha Dhabi posts record Dhs10.6b net profit

Alpha Dhabi Holding (Alpha Dhabi or the Group), listed on the Abu Dhabi Securities Exchange, has reported its financial results for the full year period ending 31 December 2022, and the numbers are impressive.

In 2022, Alpha Dhabi achieved a net profit of Dhs10.6 billion, a staggering increase of 104% year-on-year from Dhs 5.2 billion. This achievement has exceeded the guidance of Dhs10 billion net profit provided at the beginning of the year, showcasing the Group’s ability to outperform its targets.

Revenues also experienced significant growth, reaching Dhs40.0 billion, which represents an increase of 114% year-on-year. The growth was primarily driven by strong contributions from the existing portfolio and new acquisitions, particularly across core verticals such as real estate and construction, healthcare, and industrials. These sectors continue to be key engines of growth for the Group.

Hamad Al Ameri, CEO of Alpha Dhabi Holding, commented on the results, stating, “Alpha Dhabi continues to go from strength to strength as we completed our first year as a listed company, which set the tone for 2022 and ushered a new phase of growth for Alpha Dhabi. We delivered a record set of results, driven by the successful execution of our growth agenda which continues to move forward at pace, resulting in enhanced scale, diversification, and earnings growth across our Group.”

He further added, “Looking ahead to 2023, we are committed to building on the strong transaction activity and performance momentum garnered in what was a transformational year.”