Emirates Stallions Group (ESG), a leading consortium in workforce solutions, construction and real estate and a subsidiary of Emirates' International Holding Company, announced its annual financial results for 2024 on Monday, January 27.
Publish dateTuesday 28 January 2025 - 09:49
According to Amac News: Based on the ESG announcement, the group’s total revenue increased by 109% year-on-year from AED 609.36 million in 2023 to AED 1,273.48 million, reflecting significant growth and strong performance across all segments.
According to the announcement, ESG achieved financial results in 2024 that were driven by efficient execution of operations and strategic investments.
According to ESG, the group’s gross profit increased by a significant 160% to AED 436.32 million, compared to AED 167.6 million the previous year, reflecting improved operational efficiency and cost management.
Similarly, operating profit before tax increased by 75% to AED 228.86 million, compared to AED 131.02 million in 2023.
Key achievements included a healthy pipeline of mergers and acquisitions, with two of the acquisitions including the acquisition of a controlling stake in Vision and Decovision, a decoration and furniture factory. In addition, ESG acquired Sawad Holding, a market leader in workforce and accommodation solutions.
“2024 was a key year for ESG, with outstanding financial achievements and strategic developments,” said Matar Suhail Ali Al-Bhouni Al-Dhahri, Chairman of ESG.
According to the announcement, ESG achieved financial results in 2024 that were driven by efficient execution of operations and strategic investments.
According to ESG, the group’s gross profit increased by a significant 160% to AED 436.32 million, compared to AED 167.6 million the previous year, reflecting improved operational efficiency and cost management.
Similarly, operating profit before tax increased by 75% to AED 228.86 million, compared to AED 131.02 million in 2023.
Key achievements included a healthy pipeline of mergers and acquisitions, with two of the acquisitions including the acquisition of a controlling stake in Vision and Decovision, a decoration and furniture factory. In addition, ESG acquired Sawad Holding, a market leader in workforce and accommodation solutions.
“2024 was a key year for ESG, with outstanding financial achievements and strategic developments,” said Matar Suhail Ali Al-Bhouni Al-Dhahri, Chairman of ESG.
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Source : news agency wam
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