IHC posts robust preliminary full-year 2024 performance with 54.4% revenue growth

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 AED60.1 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.