IHC Announces Stellar Preliminary Financial Results for 2023: Record Revenue and EPS Growth
- EPS of AED 12.36, indicating robust financial health and investor confidence.
- Preliminary Net profit remains strong at AED 32,748 million.
- Revenue Soars to AED 60,089 million with strategic acquisitions and performance driving a preliminary 18% YoY increase.
Abu Dhabi, 5th February 2024:ABU DHABI, UAE – International Holding Company (IHC), a leading investment conglomerate based in Abu Dhabi, has announced its Unaudited Preliminary Financial Results for the year ended December 31, 2023, showcasing a remarkable year of financial growth and strategic achievements.
The Group’s Preliminary Revenue soared to AED 60,089 million, marking an 18% increase from the previous year’s AED 50,946 million. This significant revenue growth is attributed to the company’s strategic acquisitions and the enhanced financial performance of its existing businesses, aligning with the management’s strategic vision for the Group.
Preliminary Net Profit remained robust, with IHC reporting AED 32,748 million. The Earnings per Share (EPS) saw a substantial rise, more than doubling from AED 6.81 to AED 12.36, reflecting the company’s strong profitability and the value generated for its shareholders.
IHC’s subsidiaries operate across diverse sectors of; Real estate& Construction, Utilities, Healthcare, Food & Agriculture, Marine & Dredging, Services. The Group saw further expansion across Hospitality, Sustainability, AI & Technology and Financial Services & Asset Management.
IHC’s Management’s commitment, coupled with the company’s strategic initiatives, positions IHC for sustained success in the years to come.
Note, these results may be different from the Audited Consolidated Financial Statements of the Group, as these numbers are subject to External Audit.
About International Holding Company
IHC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE and has grown to become the most valuable listed holding company in the Middle East with a market cap of AED 899billion as of January 5, 2024. The company endeavors to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates. IHC is included in FTSE ADX 15 Index (FADX 15), representing the top 15 largest and most liquid companies on the ADX.
IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 500 subsidiaries and over 150,000+ employees, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Asset management, Healthcare, Real Estate and Construction, Marine and Dredging, IT and Communications, Financial Services, Food Production and Service, Utilities, and Services.
With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes and new opportunities arise, IHC remains focused on resilience, innovation, and redefining the marketplace for itself, its clients, and its partners.
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