Abu Dhabi: IHC reports net profit of Dhs25.7bn in 2024
Image: IHC
International Holding Company (
IHC's revenue surged 54.2 per cent to Dhs92.7bn, compared to Dhs60.1bn in 2023, driven by strong performances across sectors including real estate and construction, marine and dredging, and hospitality and leisure.
The company's net profit reached Dhs25.7bn, reflecting a recalibration towards value-driven investments, while total assets expanded by 52 per cent to Dhs401.8bn, supported by strategic acquisitions and operational efficiencies.
Sheikh Tahnoon bin Zayed Al Nahyan, chairman of IHC, commented on the company's performance: 'IHC's strong performance in 2024 underscores our commitment to active portfolio management, leveraging AI-driven efficiencies, and reinvesting in high-growth industries.
'By strategically divesting from mature assets and replenishing our portfolio with innovative investments, we continue to reinforce our position as a global investment powerhouse, building dynamic value networks that transcend traditional sector boundaries to unlock greater opportunities.'
The company's growth strategy includes focusing on high-value investments, driving cash flows, and enhancing financial resilience through disciplined management. The successful integration of AI-powered technologies and digital advancements has played a critical role in IHC's expansion across its verticals, with notable successes in sectors such as financial services and technology.
Syed Basar Shueb, CEO of IHC, reflected on the year's achievements: '2024 has been a transformational year for IHC, reflecting our relentless pursuit of excellence and strategic vision. Our ability to drive substantial growth across all verticals, backed by disciplined financial management and a forward-thinking approach, has cemented our position as a global leader. As we enter 2025, we remain focused on expanding our footprint, leveraging our strong balance sheet, and investing in high-yield businesses that align with our long-term growth strategy.'
Syed Basar Shueb, CEO of IHC/ Image: IHC
In line with its strategic vision, IHC participated for the first time in the World Economic Forum in Davos in 2025, leading a delegation of key subsidiaries to engage with global leaders.
This participation allowed IHC to spearhead discussions on transformative solutions, forge strategic partnerships, and reinforce its commitment to sustainable economic growth and investment innovation.
IHC Group highlights in 2024
NMDC Energy's IPO success:
MENA's largest share buyback programme:
IHC launched a Dhs5bn share buyback programme, beginning with an initial tranche of Dhs1.8bn, representing 36 per cent of the total programme.
Successful integration of Aiden Insight:
IHC integrated Aiden Insight, an AI-powered virtual entity, as a Board Observer, enhancing corporate governance.
Mopani Copper Mines acquisition:
International Resources Holding acquired a 51 per cent stake in Zambia's Mopani Copper Mines, one of the largest copper and cobalt producers in the country.
Modon Holding's real estate expansion:
A merger of assets from Modon Properties, ADNEC, La Zagaleta, MIZA Investments, and others created one of the UAE's largest real estate entities.
Enersol's strategic acquisition:
Enersol, a joint venture between IHC and ADNOC Drilling, acquired a 42.2 per cent stake in Gordon Technologies, becoming the majority equity shareholder.
Grupo Nutresa investment:
IHC acquired a 14.83 per cent stake in Grupo Nutresa, strengthening its position in Latin America's food-processing sector.
Launch of 2PointZero:
IHC launched 2PointZero, an investment platform focused on emerging technologies and sustainable businesses.
Multiply Group's strategic development:
Multiply Group acquired Backlite Media, boosting IHC's position in digital out-of-home advertising.
Easylease's move into the logistics sector:
Easylease acquired a 51 per cent stake in Gallega Global Logistics, securing 3.5 million square feet of logistics infrastructure in the UAE.
Sawaeed's acquisition:
Emirates Stallions Group (ESG) acquired Sawaeed Holding, positioning it as a flagship platform for manpower and accommodation services.
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