IHC Posts Robust Preliminary Full-Year 2024 Performance with 54.4% Revenue Growth
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- Revenue for full-year 2024 surged to AED 92.8 billion, marking an impressive 54.4% increase compared to AED 60.1 billion in 2023.
-
Total assets expanded to AED 401.7 billion as of December
31, 2024, representing a significant 52% growth from AED
264.3 billion in 2023.
- Net profit after tax reached AED 25.5 billion, reflecting a recalibration from AED 33.0 billion in 2023 as the company doubled-down on on-going value-accretive investments last year that will enhance future shareholder returns.
- Earnings per share (EPS) stood at AED 7.08 for 2024, primarily influenced by strategic reinvestment into high-growth areas.
Abu Dhabi, UAE - 10 February 2025:
IHC, the global investment company focused on building
dynamic value networks, has announced its preliminary
financial results for the full-year 2024, with revenue
surging to AED 92.8 billion, reflecting a robust 54.4%
increase compared to AED 60.1 billion in 2023.
This
strong financial performance was driven by solid
contributions across key sectors, including Real Estate and
Construction as well as Marine and Dredging. These sectors
have thrived on market demand, strategic acquisitions, and
the successful execution of projects.
Total
assets rose to AED 401.7 billion, up 52% compared to
December 2023, underpinned by significant investments and
portfolio expansion across diverse industries. Total equity
also saw a substantial rise, increasing by 55.7% to AED
244.1 billion in FY 2024, further reinforcing IHC’s strong
financial position with a significantly enhanced asset base,
positioning IHC to seize opportunities in high-growth
markets globally.
The company’s net profit after
tax stood at AED 25.5 billion, reflecting an anticipated
adjustment as resources were channeled toward high-impact
initiatives and subsidiary scaling. Similarly, EPS was
recalibrated to AED 7.08, aligning with the strategy to
focus on ongoing value-accretive investments in 2024, which
are expected to drive enhanced shareholder returns in the
future.
Looking ahead, IHC remains steadfast in
its commitment to delivering sustainable growth, leveraging
its strong balance sheet to drive innovation, enhance
operational efficiencies, and explore new opportunities
globally. The company continues to position itself as a
leader in fostering economic diversification and building
long-term value for shareholders.
Redefining investment leadership globally, leveraging innovation and sustainability to create dynamic value networks.