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22 NNoovveemmbbeerr 22002233Q3 2023 Financial Results
Alpha Dhabi Holding
Alpha Dhabi Holding
Zu±1.4 Lill' I Lp4.15 Lti_li
Alpha Dhabi Surpasses AED 11.6 Billion Net Profit,
Showcases Remarkable Growth And Strategic Vision For
2023
• Nine month performance with net profit at AED 11.6 billion and revenue at AED 32.4
billion, up 29% and 22% respectively
• Growth is attributed to a combination of organic expansion and strategic acquisitions
across its core verticals and diversified platform
FINANCIAL PERFORMANCE AND METRICS
AEDbn YTD 2023 YTD 2022 YoY% Change
Revenue 32.4 26.6 22%
Net Profit 11.6 9 29%
EPS 0.97 0.68 43%
11.6
AED billion AED
32.4
billion
Net Profit Revenue
AED
133.6
billion
AED
19.1
billion
Total Assets Total Cash Position
2Q3 2023 Financial Results
Alpha Dhabi Holding
Note: YTD as at the end of Q3 2023
Eng. Hamad Al Ameri, CEO of Alpha Dhabi Holding, said:
“Alpha Dhabi’s milestone of AED 11.6 billion in net profit for YTD
September 2023 testifies to a remarkable journey of growth. Our
success stems from a multifaceted strategy and we attribute this
achievement to the synergy of a diversified portfolio that spans
vital sectors, an unwavering commitment to best-in-class
corporate governance, and the exceptional performance delivered
by our dedicated colleagues and business leaders. This synergy has
empowered us to unlock the true potential of our investments and
deliver substantial value to our shareholders.
As we navigate the remainder of the year, our focus is on
harnessing the significant momentum we have built and
strategically driving further growth while seizing exciting
investment opportunities. Our strategy revolves around expanding
our portfolio through acquisitions and geographic diversification,
with the overarching goal of extending our global footprint within
the investment landscape.”
Abu Dhabi, UAE; 02 November 2023: Alpha Dhabi Holding PJSC (“Alpha Dhabi” or “the Group”), one of the
fastest-growing investment holding companies in the MENA region, listed on the Abu Dhabi Securities
Exchange (ADX: AlphaDhabi), has announced its financial results for the period ending 30 September 2023.
Alpha Dhabi reported robust financial results, with a noteworthy 29% year-on-year increase in net profit,
surging to AED 11.6 billion, as compared to AED 9 billion in the same period in 2022. This growth is
attributed to a combination of organic expansion and strategic acquisitions, underscoring the Group’s
commitment to enhancing shareholder value. Alpha Dhabi also witnessed a surge in revenue, reaching AED
32.4 billion, reflecting a substantial 22% year-on-year increase compared to the same period last year (YTD
2022: AED 26.6 billion).
Alpha Dhabi’s diversified portfolio has been a major driver behind the growth in revenue. The Group has
continued to expand its portfolio and invest in strategic sectors including hospitality and energy, as well as
launching a Climate Capital platform. In addition, the group has invested in to financial ventures spanning
different geographies, including the MICAD Credit JV in collaboration with Mubadala and Alpha Wave
Ventures.
The Group’s financial position remains strong, boasting total assets of AED 133.6 billion and a cash
position of AED 19.1 billion as of September 30, 2023—owing to the strategic acquisitions and investments
made since 2022 and notable performance seen across all segments during the period.
Through the rest of 2023, Alpha Dhabi is strategically poised to foster further growth and capture
investment opportunities by incorporating new operating assets through acquisitions and geographical
3Q3 2023 Financial Results
Alpha Dhabi Holding
diversification, all the while enforcing a rigorous and exemplary corporate governance structure across the
ADH portfolio of businesses.
ABOUT ALPHA DHABI HOLDING
Alpha Dhabi Holding (ADH), the UAE listed conglomerate, was established in 2013 and is one of the fastest
growing Abu Dhabi based investment holding companies, with more than 150 businesses spread across
healthcare, renewable energy, petrochemical and other industries as well as real estate, construction and
hospitality. With over 95,000 employees, ADH is a strategic contributor to the UAE economy and is committed
to drive continuous growth for its stakeholders through investments in emerging businesses, supporting
innovation and diversity.
MEDIA CONTACTS
Alpha Dhabi Holding Weber Shandwick
Mary Khamasmieh
Investor Relations
Head of Public Affairs
IR@alphadhabi.com
M: +971 50 2731 753
E: mkhamasmieh@webershandwick.com
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Investor Relations
Alpha Dhabi Holding
d..a4 L.dJI 0.4..b LaJi
Alpha Dhabi Holding PJSC (“ADH”) reports a Group net
Alpha Dhabi Holding PJSC
profit of AED 11.6 Bn for the YTD September 2023,
Ticker: ALPHADHABI
showing continued momentum in the execution of its
Market Cap: AED 189 Bn
strategy across key verticals and commitment to
(As at 31.10.2023)
generate higher shareholder value.
Investor Metrics:
YTD Sep 23 Revenue: AED Bn
Revenue 40.0
32.4
30.0 26.6
AED 32.4 Bn
20.0
22% Increase
10.0
(YOY)
-
YTD 22 YTD23
YTD Sep 23 Net Profit AED Bn 15.0 Owner’s Net Profit AED Bn
15.0
11.6
Net Profit 9.8
9.0 10.0
10.0
6.8
AED 11.6 Bn
5.0 5.0
29% Increase
(YOY) - -
YTD 22 YTD23 YTD 22 YTD 23
Net Margin Earnings Per Share EBITDA EBITDA Margin
36% AED 0.97 AED 14.1 Bn 44%
+200bps YoY +43% YoY +33% YoY +400bps YoY
Total Assets Total Equity Total Liabilities Cash Balance
AED 133.6 Bn AED 73.8 Bn AED 59.8 Bn AED 19.1 Bn
2% Increase 5% Increase 2% Decrease 25% Decrease
(YTD) (YTD) (YTD) (YTD)
Net Debt to
Net Debt Return on Equity2
EBITDA1
AED 1.8 Bn 25%
0.1x
1. Net Debt to EBITDA is based on LTM EBITDA
2. Return on Equity is based on LTM profits attributable to the ownersInvestor Relations
Company Overview
Ranked
13th
in Middle East
95,000+ 150+
by Forbes ME
Employees Businesses
(by market
cap)
AleadingInvestmentHoldingcompany,witheightoperatingverticalsand150+
businessesacrossMiddle East,Europe,Asia andNorth America,each ofwhich is
committed to be transformed into platforms of potential, progress, and
prosperity.
Strategic Investments Financial Investments
Industrial
Investments inwhich the group hascontrol Investments in which the group does not
or significant influence and is able to haveanycontrolorsignificantinfluence.
Construction
participate and support in the growth
strategyoftherespectivebusinesses.
Real Estate
Listed Listed
Key listed strategic investments as at The Group was a cornerstone investor in
Healthcare
30September2023are: theIPOsofBorougeandDEW0A
21 l
..!4._ Hospitality
JiUl
,N auC l. I H ALDAR dI9 e- - w2m s
Energy
Non-Listed Non-Listed
The group has a wide portfolio of The group has a wide portfolio of
Services
strategic investments in privately held financialinvestmentsacrossgeographies
companiessuchasPureHealth,Mawarid such as MICAD Credit JV in partnership
Holding Investment LLC, Trojan Climate with Mubadala and Alpha Wave
ConstructionGroup. Capital Ventures.
Built on strong key values focused on maximizing share holders returns
Strengthening Portfolio Corporate Governance Effective Leadership Synergies
waa,
,
Significant capital The group maintains a Strong performance The group continuously
deployment, successful steadfast commitment to delivered by highly engaged seekstoidentifyanddeliver
expansion of our platform, corporate governance. colleagues and business synergies across its
and enhancing our heads of the company and portfolio.
geographic footprint. its subsidiaries.Investor Relations
Management Discussion & Analysis
ADH is pleased to present its report on the performance of the Group for the period ended 30 September
2023. This report should be read in conjunction with the interim condensed consolidated financial
statementsforthesameperiod.
Profit & loss analysis for the period ending September 2023
Income Statement Summary (AED'Bn) YTD Q3 23 YTD Q3 22 YOY % Q3 23 Q3 22
Revenue 32.4 26.6 22% 10.3 9.0
Gross profit 6.7 7.1 -6% 2.0 2.1
EBITDA 14.1 10.6 33% 3.7 1.8
Net Profit 11.6 9.0 29% 1.3 1.1
EBITDA Margin 44% 40% +4% 36% 20%
Net Margin 36% 34% +2% 13% 12%
Revenue: The Group generated revenue of AED 32.4 Bn during the period ended 30 September 2023,
equivalentto22%YOYgrowth,drivenbythefollowing:
• Increased revenue across all business segments and the impact of strategic acquisitions and
investmentsmadesince2022.
Gross Profit: The Group reported a gross profit of AED 6.7 Bn with a gross margin of 21% reflecting the
impactofbothorganicgrowthandacquisitions.
Expense Analysis: General and administrative expenses for the period were AED 2.9 Bn versus AED 2.1 Bn
duringthesameperiodin2022,withtheincreasearisingfromthecontinuedgrowthoftheGroup.
OtherIncome:
• During the period, the group derecognized its ownership interest in Pure Health Holding resulting in a
fairvaluegainofAED7.5Bn.
Net Profit: First nine months of 2023 reported a net profit of AED 11.6 Bn against AED 9.0 Bn during the
comparableperiodin2022,withayear-on-yeargrowthof29%.
Earnings per share: Earnings per share for the period was AED 0.97 per share, as compared to AED 0.68
duringthesameperiodlastyear,anincreaseof43%.Investor Relations
Balance Sheet Analysis as at YTD September 2023
Total Assets (AED Bn) 133.6 Total Equity (AED Bn)
131.0
127.9 70.0 68.7 71.9 73.8
120.7
FY22 Q123 Q223 Q323 FY22 Q123 Q223 Q323
AED Bn FY 22 Q1 23 Q2 23 Q3 23 AED Bn FY 22 Q1 23 Q2 23 Q3 23
Current 74.9 61.5 65.7 68.5 Owners 31.9 38.1 40.1 40.9
Non-current 56.1 59.2 62.2 65.1 NCI & Hybrid 38.1 30.6 31.8 32.9
Total 131.0 120.7 127.9 133.6 Total 70.0 68.7 71.9 73.8
Return on Equity1 Net Debt to EBITDA2 Total Debt to Equity
25% 0.1x 0.3x
Borrowings Breakdown
Borrowings
AED 20.9Bn 26%
Net Debt
External Borrowings
AED 1.8 Bn
Cash 74%
Non Convertible
AED 19.1 Bn
Suksuks
Total assets were AED 133.6 Bn compared to total assets of AED 131.0 Bn for year ended 31 December
2022. The change is in-line with the Group’s derecognition of subsidiary (Pure Health Holding) to
investmentinjointventureandincludingtheperformanceofexistingportfoliointhecurrentperiod.
Total Liabilities were AED 59.8 Bn compared to total liabilities of AED 61.0 Bn for FY 22, with a YTD
decreaseof2%YTD.
Equity reported for the period was AED 73.8 Bn as at 30 September 2023 comprised of owner's equity at
40.9Bn,hybridequityinstrumentsatAED1.8BnandnoncontrollinginterestsatAED31.1Bn.
CashBalancereportedason30September2023wasAED19.1Bn.
Net Debt increased to AED 1.8 Bn from a net cash position of AED 4.1 Bn at 31 December 2022 due to
decreaseincashbalanceby25%YTD.
• Return on Equity is based on LTM profits attributable to the owners
• Net Debt to EBITDA is based on LTM EBITDA461
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****PPuurree HHeeaalltthh wwaass ddeerreeccooggnniizzeedd iinn 0011 2233Investor Relations
Key Investments during the period and Subsequent Events
Key Investments
EltizamAsset Aldar Properties PJSC, a subsidiary of the Group acquired a 65% equity interest in
Management
Etizam, for a consideration of AED 1,013 million. Etizam is a limited liability
Estate -Sole
Proprietorship company, registered and incorporated in Abu Dhabi and is engaged in real estate
L.L.C. (“Eltizam”)
leaseandmanagementservices.
Virginia
Aldar Properties PJSC, a subsidiary of the Group acquired a 100% equity interest in
International
Private School – Virginia, for a consideration of AED 210.5 million. Virginia is a limited liability
SP LLC.
company,registeredandincorporatedinAbuDhabiandisengagedineducation.
(“Virginia”)
Kent College LLC Aldar Properties PJSC, a subsidiary of the Group acquired a 100% equity interest in
-FZ. And Kent
Kent, for a consideration of AED 120 million. Kent is a limited liability company,
Nursery LLC -FZ
(“Kent”) registeredandincorporatedinDubaiandisengagedineducation.
Mais Interior
Trojan Construction Group,a subsidiaryofthe Group acquired a 60%equityinterest
Design L.L.C.
(“Mais”) inMais,foraconsiderationofAED24million.
Subsequent Events
Acquisitionof99.1%stakeinLCapitalKDTLTD(‘LCapital’),acompanyincorporated
L Capital KDT
in republic of Mauritius for an amount of AED 190 million by ADMO. L Capital is
LTD (‘L Capital’)
involvedinthehospitalitybusinessandoperatesunderthebrandname“CELAVI”
Acquisition of 35.1 % stake in Em Sherif Holding LTD (‘Em Sherif’), a company
Em Sherif
incorporated in Abu Dhabi, UAE on Abu Dhabi Global Market (‘ADGM’) for an
Holding LTD (‘Em
Sherif’) amount of AED 139 million by ADMO. Em Sherif is involved in the hospitality
business.
Acquisition of 51 % stake in NTS Middle East FZCO (‘NTS’), a company incorporated
NTS Middle East in Jabel Ali Freezone,UAE for an amount of AED213 millionbyADHEnergyRSCLtd.
FZCO (‘NTS’)
NTS is involved in cutting-edge manufacturing, repair and rental solutions in oil &
gassectorInvestor Relations
Future Plans
Management confirms its commitment to support and enhance the core investment activities of the
companytodrivecontinuousgrowthvia:
• Theadditionofexcitingnewoperatingassetsthroughacquisitionsandgeographicdiversification
• Implementing robust and exemplary corporate governance across the ADH portfolio of businesses to
ensurestronggrowthissupportedbyaneffectiveframeworkofcontrols.
About Alpha Dhabi Holding
Alpha Dhabi Holding (ADH), the UAE listed conglomerate, was established in 2013 and is one of the fastest
growing Abu Dhabi based investment holding companies, with more than 150 businesses spread across
healthcare, renewable energy, petrochemical and other industries as well as real estate, construction and
hospitality. With over 95,000+ employees, ADH is a strategic contributor to the UAE economy and is
committed to drive continuous growth for its stakeholders through investments in emerging businesses,
supportinginnovationanddiversity
Alpha Dhabi Holding
Investor Relations
IR@alphadhabi.com

Sentiment: positive