Alpha Dhabi's net profit climbs to record $3.6bln in 2023

Alpha Dhabi's net profit climbs to record $3.6bln in 2023

Alpha Dhabi Holding (Alpha Dhabi), one of the MENA region's most rapidly expanding investment holding companies, today unveiled its financial results for the year ended 31st December 2023, reporting a Group Net Profit of AED 13.3 billion, an increase of 25 percent year-on-year. These outstanding results reflect the Group's strategic implementation across key verticals and its unwavering commitment to generating enhanced shareholder value.

Hamad Al Ameri, Managing Director and CEO of Alpha Dhabi Holding, said, “Alpha Dhabi's impressive performance in 2023 is both a reflection of our strength and capabilities as well as a validation of the depth, resilience, and diversity that's found across our growing portfolio. Reporting a Net Profit of AED 13.3 billion, an increase of 25 percent year-on-year, shows full well the pace of our growth momentum. As we advance into 2024, we are on a strong footing to enhance our core investment activities through strategic partnerships and acquisitions. Our joint ventures with ADNOC Drilling and Mubadala is a testament to this ambition, as we will deploy up to AED 2.1 billion into oil field services and AED 1.7 billion into global credit opportunities."

Alpha Dhabi’s revenue also saw substantial growth, reaching AED 45.4 billion, a 14 percent increase year-on-year from the same period last year.

Throughout 2023, all business divisions delivered excellent performance which is reflected by the increased revenue reported across these segments. 2023 was also marked by the positive impact born out of the strategic acquisitions and investments made since 2022, most notably the consolidation of Aldar Properties PJSC starting Q2 2022.