E7 Group PJSC, a provider of commercial printing and distribution services, reported a 93% increase in net profit when it reported its financial results for the first half of 2024.

According to Amac News: E7 Group PJSC's report states that the 93% increase in net profit before tax and the significant growth of EBITDA during the quarter show the group's ability to capitalize on these strong economic conditions.
According to the report of E7 Group in the second quarter of 2024, including the 31% growth of EBITDA, it is a testimony to the unceasing focus of the group's team on operational excellence and delivering strategies.
In the second quarter of 2024, the group reported 10% year-on-year revenue growth to AED 174.8 million, which contributed to 5% year-on-year growth in the first half of 2024.
The performance was driven by the growth of E7 Security, E7 Printing and E7 Packaging and the successful execution of new contracts in the UAE and abroad.
According to the report, EBITDA for the second quarter of 2024 amounted to 51.9 million dirhams, which is a 31% improvement compared to the same period last year.
EBITDA margin increased to 30% in Q2 2024 compared to 25% in Q2 2023, reflecting E7 Group's continued focus on operational efficiency.
For the first half of 2024, the EBITDA margin was 24%, the same as the first half of 2023.
Net profit before tax increased to AED 71.0 million in the second quarter of 2024, a record 126% year-on-year increase.
For the first half of 2024, net profit before tax grew by 93% to 100.2 million dirhams, with a significant increase in margins from 18% to 33% compared to the previous year.
Net profit after tax for the second quarter and the first half was 64.5 million dirhams and 91.1 million dirhams, respectively.