Multiply Group (ADX: MULTIPLY), an Abu Dhabi-based investment holding company that invests in and operates in global businesses, announced its 2024 financial results on Tuesday.
Publish dateThursday 6 February 2025 - 00:46
According to Amac News: Based on the Multiply Group report, The company’s net profit for 2024 was AED 1.04 billion, including fair value changes.
The report added that Multiply Group delivered a strong operating performance last year, with double-digit EBITDA growth of 15% year-on-year to a record AED 1.9 billion.
This strong performance was driven by a strategic focus on building vertical expertise through successful acquisitions, with three acquisitions completed in 2024, and organic growth through operational efficiencies and new revenue streams.
Group revenue increased by 56% year-on-year to exceed AED 2 billion, driven by double-digit organic growth across all segments (+10% year-on-year), the full-year impact of Media 247, acquired in January 2023, and the integration of BackLite Media, The Grooming Company Holding and Excellence Premier Investment.
The combined gross profit margin also remained at a healthy 47%, reflecting the change in revenue mix in the media segment and the integration of Excellence Premier Investment into the transportation segment. Investment and other income, including dividend income, added more than AED 1 billion to net profit.
Multiply Group said it has a strong balance sheet and holds more than AED 2 billion in cash and cash equivalents. The group also has additional capacity to invest up to AED 4 billion for future growth.
The report added that Multiply Group delivered a strong operating performance last year, with double-digit EBITDA growth of 15% year-on-year to a record AED 1.9 billion.
This strong performance was driven by a strategic focus on building vertical expertise through successful acquisitions, with three acquisitions completed in 2024, and organic growth through operational efficiencies and new revenue streams.
Group revenue increased by 56% year-on-year to exceed AED 2 billion, driven by double-digit organic growth across all segments (+10% year-on-year), the full-year impact of Media 247, acquired in January 2023, and the integration of BackLite Media, The Grooming Company Holding and Excellence Premier Investment.
The combined gross profit margin also remained at a healthy 47%, reflecting the change in revenue mix in the media segment and the integration of Excellence Premier Investment into the transportation segment. Investment and other income, including dividend income, added more than AED 1 billion to net profit.
Multiply Group said it has a strong balance sheet and holds more than AED 2 billion in cash and cash equivalents. The group also has additional capacity to invest up to AED 4 billion for future growth.
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Source : news agency wam
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