Latest news with #ADCOOP
Zawya
3 days ago
- Business
- Zawya
MAIR Group reports 57% growth in underlying profit for H1 2025 as transformation advances
RELATED TOPICS EARNINGS RELATED COMPANIES Mair Group Makani Kai Air C Transformation of the Group continues with the completion of the rebranding program; 80 former legacy stores unified under a single new ADCOOP brand Statutory net profit declined (38)% due to 2024 material gains as the disposal of non-core assets not repeated in H1 2025 ABU DHABI, UAE – MAIR Group PJSC (ADX: MAIR) ("MAIR" or the "Group"), a strategic investment company focused on grocery retail and commercial real estate in the UAE, announced its financial results for the six-month period ended 30 June 2025. Financial Highlights All figures are in AED million, unless otherwise stated Q2'25 Q2'24 YoY (%) H1'25 H1'24 YoY (%) Revenue 467.0 493.3 (5.3) 1,020.9 1,086.6 (6.0) Gross profit 175.1 159.8 9.6 365.9 325.0 12.6 Profit before tax 33.1 66.5 (50.2) 89.1 124.5 (28.4) EBITDA 1 69.7 104.1 (33.0) 157.9 204.1 (22.6) Profit for the period 30.3 61.4 (50.7) 81.8 130.9 (37.5) Underlying profit for the period 2 30.3 15.2 99.3 81.8 52.2 56.7 Earnings per share (AED) 0.014 0.027 (48.1) 0.037 0.059 (37.3) 1 EBITDA (Post IFRS-16) is calculated by adding net finance costs, income tax expense, depreciation, and amortization to net profit, excluding profit from investments in associates & discontinued operation. 2 Underlying profit excludes one-off gains from asset disposals, discontinued operations, and adjusts for merger-related costs. All 80 Stores Rebranded to ADCOOP MAIR Group has successfully completed the rebranding of all 80 ADCOOP stores, a major milestone in its transformation journey. This unification of six legacy brands under the single ADCOOP identity enhances customer experience and positions the Group for stronger growth from H2 2025 onwards. Group revenue stood at AED 1.02 billion in H1 2025, in line with expectations as the rebranding was completed and the retail portfolio repositioned for sustainable growth. The retail segment contributed AED 877.7 million, with like-for-like sales down 5% during the transition, and a reduction in lower-margin wholesale activity. The Group continues to build towards a modernized, customer-first retail network expected to drive stronger sales momentum in H2 2025 and beyond. The Makani commercial real estate portfolio delivered AED 109.8 million in revenue, up 9.3% year-on-year, underpinned by a robust 94% occupancy rate across the Group's 70+ malls and community hubs. Key developments such as Souq Al Jami' in Al Ain (completed in Q1'25) and Khalidiya Garden in Abu Dhabi (completed in early July) further strengthen Makani's community-focused footprint and enhance its long-term revenue potential. Management service income totaled AED 33.4 million in H1 2025, generated under a shared support services agreement with an affiliate. Under this agreement MAIR provides accounting services, human resources, procurement, legal, and compliance among other services. This new revenue stream was enabled by an expansion of the Group's trade license activities. Strong Underlying Net Profit Growth in H1 and Q2 2025 While statutory profit for the period declined from AED 130.9 million in H1 2024 to AED 81.8 million in H1 2025, the Group performed well on an underlying basis with 57% underlying net profit growth. This was driven by improved operating performance and lower finance costs following the full repayment of debt. H1 2024 enjoyed the one-off benefit from the disposal of non-core assets, partly offset by costs associated with the merger. Strong Cash Flow Enables Strategic Development The Group continued to generate strong cash flow in H1 2025 and ended the period with a net cash position of AED 315 million, following the full repayment of external debt earlier in the year. This strong liquidity provides financial flexibility to reinvest in the Group's retail and real estate development pipeline, positioning MAIR to capture future growth opportunities and deliver sustainable value creation for shareholders. Commenting on MAIR's first half results, Mr. Nehayan Hamad Alameri, Managing Director and Group CEO, MAIR Group, said: ' H1 2025 marks a pivotal stage in our transformation. With 80 former legacy stores unified under a single new ADCOOP brand, we enter H2 from a position of strength. The 57% year-on-year growth in underlying net profit demonstrates the impact of our integrated model and disciplined execution. 'We are now entering phase two of our retail upgrades – a broader AED 100+ million remodeling program to further elevate the customer experience – alongside a robust pipeline of retail and community real estate developments. With a debt-free balance sheet and strong cash flow, we are well-positioned to accelerate these initiatives and unlock further value for our customers and shareholders.' About MAIR Group The strategic investment company MAIR Group has been established in Abu Dhabi, marking the launch of a transformative company focusing on driving purposeful business growth across key sectors of the economy. MAIR Group manages a portfolio of well-established businesses, including ADCOOP - its flagship retail arm - and SPAR, a premium European supermarket chain that has been in Abu Dhabi for over a decade. The leading retail chain 'ADCOOP' was founded in 1977 which united seven trusted retail brands - Abu Dhabi Coop, Al Ain Coop, Al Dhafra Coop, Delma Coop, COOPS, Earth, and Mega Mart - under one cohesive identity based on a resolution issued by the Abu Dhabi Department of Economic Development. MAIR's commercial real estate portfolio, Makani, positions as one of the top 5 property operators in Abu Dhabi, supported by a 94% occupancy rate across 404,000 square meters of premium space across 70+ malls and community hubs and many other commercial assets including Al Ain Mall. The Group also offers shared support services, providing accounting, human resources, procurement, legal, and compliance functions to affiliates. Operating with a vertical integration model, MAIR Group supports growth in the local economy, ensuring the continuity of its commitment to the local community, while remaining focused on the national food security agenda of the United Arab Emirates.
Al Etihad
3 days ago
- Business
- Al Etihad
MAIR Group rebrands all retail stores under ADCOOP
14 Aug 2025 12:25 A. SREENIVASA REDDY (ABU DHABI)MAIR Group, an investment company focused on grocery retail and commercial real estate in the UAE, reported Dh1.02 billion in revenue in H1 2025, while successfully rebranding its legacy stores under the ADCOOP name. The ADX-listed company, formerly a cooperative business, announced its results on in the first six months was marginally lower than the Dh1.09 billion posted a year earlier, reflecting the completion of a major rebranding programme and the repositioning of the retail portfolio for sustainable growth. The retail segment contributed Dh877.7 million, with like-for-like sales easing by 5% during the transition and a reduction in lower-margin wholesale activity. The Makani commercial real estate portfolio performed strongly, generating Dh109.8 million, up 9.3% year on year, supported by a robust 94% occupancy rate across more than 70 malls and community hubs. Management service income reached Dh33.4 million, arising from a shared services agreement with an net profit for the period surged 57% to Dh81.8 million, driven by improved operating performance and lower finance costs following the repayment of all external debt earlier this year. Statutory profit, however, declined 37.5% from Dh130.9 million in H1 2024, when results benefited from one-off gains on the disposal of non-core assets. Gross profit rose 12.6% year on year to Dh365.9 million, while EBITDA stood at Dh157.9 million. The Group closed the period with a net cash position of Dh315 million, providing liquidity to reinvest in its retail and property completed the unification of 80 stores under the ADCOOP brand, merging six legacy brands to create a single retail identity. Looking ahead, the Group is launching a Dh100 million-plus retail remodelling programme to further enhance customer experience, alongside a robust pipeline of retail and community real estate developments.'H1 2025 marks a pivotal stage in our transformation. With 80 former legacy stores unified under a single new ADCOOP brand, we enter H2 from a position of strength. The 57% year-on-year growth in underlying net profit demonstrates the impact of our integrated model and disciplined execution,' said Nehayan Hamad Alameri, Managing Director and Group CEO. 'With a debt-free balance sheet and strong cash flow, we are well-positioned to accelerate these initiatives and unlock further value for our customers and shareholders.' Established in Abu Dhabi, MAIR Group manages a portfolio of businesses including ADCOOP, its flagship retail arm, and SPAR, a premium European supermarket chain in Abu Dhabi for over a decade. ADCOOP, founded in 1977, now brings together seven trusted retail brands under one identity. The Group's Makani portfolio ranks among Abu Dhabi's top five property operators, with 404,000 square metres of premium space and assets such as Al Ain Mall.
Zawya
17-07-2025
- Business
- Zawya
ADCOOP launches new flagship store at Makani Al Khalidiya Garden
RELATED TOPICS UAE RELATED COMPANIES Mair Group ADCOOPS First store in the UAE to introduce 100% Electronic Shelf Labeling (ESL) technology First purpose-built store to embody ADCOOP's new brand identity Abu Dhabi, UAE: ADCOOP – the UAE's community-centered retail destination – is proud to announce the grand opening of its new flagship branch at Makani Al Khalidiya Garden. The new branch was officially inaugurated today, July 17, 2025, by Captain Mohamed Jumaa Al Shamsi, Chairman of Mair Group, alongside Group CEO & MD Nehyan Alameri, in the presence of ADCOOP and MAIR senior leadership. The launch of this innovative outlet presents a valuable opportunity for ADCOOP to emphasize its renewed commitment to delivering quality, value, and convenience to every customer, positioning itself as a trusted partner in household wellbeing and the go-to retail destination for families across the UAE. ADCOOP also unveils its new brand identity, unifying the legacy stores of Al Ain, Al Dhafra, Delma, and Abu Dhabi Cooperative. This reinforces its transformation into a modern, community-focused retailer while honoring a rich heritage of more than 40 years. The Khalidiya Garden branch inauguration introduces an upgraded customer experience, featuring modern design and a welcoming ambiance. The new, spacious facility spans 1647 sqm and offers more than 8,000 products, with 20% of the fresh category sourced locally within the UAE. As part of its innovation-driven strategy, ADCOOP is introducing several first-to-market features in the UAE, alongside additional state-of-the-art innovations, including: 100% Electronic Shelf Label System: A complete digital labeling system across all shelves & products for accuracy and efficiency for customer's trust. Avocado Ripeness Scanners: Allowing customers to select the perfectly ripe avocado for their meals. Water Mist Technology: Maintains freshness and premium quality fruits and vegetables. Energy Efficiency Features: The store is equipped with full LED lighting and closed chillers, reinforcing its commitment to energy efficiency and sustainability. Modern Self-Checkout System: Enhances customer convenience and speeds up the shopping experience. At the heart of ADCOOP's success is its commitment to investing in its people, who are regarded as its most valuable assets. Through the ADCOOP Retail Schools, the company has provided over 500 hours of dedicated training at this store, empowering employees with the knowledge and skills necessary to excel. This strong focus on employee development reflects ADCOOP's belief that nurturing talent and fostering growth are essential to delivering exceptional service and building lasting relationships within the community. Bertrand Loumaye, ADCOOP Chief Executive Officer, said: " The grand opening of a new branch in Khalidiya Garden is a significant occasion for ADCOOP – one that reaffirms our dedication to being 'One destination for all' and stands on the shoulders of more than four decades of customer trust. With a new brand identity, we are honoring that heritage while launching a vibrant, inclusive, and future-facing new era for retail – one that delivers enhanced quality, wider inclusivity, and greater value in every experience and community that we serve.' About ADCOOP ADCOOP is the UAE's community-centered retail destination, offering exceptional service, unbeatable value, and a shopping experience enriched by Emirati culture and global influences. A wholly owned brand of MAIR Group PJSC, ADCOOP blends tradition and innovation to meet the diverse needs of Arab families and all UAE residents, supporting the Group's strategy of building integrated, community-led platforms across high-growth sectors.
Zawya
15-05-2025
- Business
- Zawya
MAIR Group reports an increase in underlying profit as the transformation journey continues
Strong cash position and Debt Free balance sheet positions the Group well for planned strategic growth initiatives. ABU DHABI, UAE – MAIR Group PJSC (ADX: MAIR) ("MAIR" or the "Group"), a strategic investment company focused on grocery retail and commercial real estate in the UAE, today announced its financial results for the three-month period ended 31 March 2025. Financial Highlights All figures are in AED'000 unless otherwise stated Q1 2025 Q1 2024 YoY Variance (%) Revenue 539,940 593,281 (9.0) Gross profit 176,852 165,119 7.1 Profit before tax 55,956 58,080 (3.7) EBITDA 1 74,521 82,404 (9.6) Profit for the period 51,537 69,537 (25.9) Underlying profit for the period 2 51,537 36,512 41.2 Earnings per share (AED) 0.02 0.03 - 1 EBITDA (Post IFRS-16) is calculated by adding net finance costs, income tax expense, depreciation, and amortization to net profit, excluding non-operating income. 2 Underlying profit excludes one-off gains from asset disposals, discontinued operations, and adjusts for merger-related costs. Sales Moderation as ADCOOP Rebranding Begins Group revenue stood at AED 540 million, reflecting a 9% year-on-year decline due to the planned ADCOOP rebranding program, a reduction in less profitable wholesale, and the net impact of store closures vs. Q1 last year. The grocery retail segment contributed AED 487 million, with like-for-like sales declining 5% as legacy stores undergo transformation. In Q1 2025, 20 stores were rebranded, with an additional 80 stores on track for completion by June 2025, marking a strategic shift towards modern and community-focused formats. The commercial real estate segment recorded AED 53 million, up 8% year-on-year, underpinned by a 92% occupancy rate across the Group's 70+ Makani-branded community malls. Solid Underlying Profitability While statutory profit for the period declined from AED 69.5 million in Q1 2024 to AED 51.5 million in Q1 2025, the Group performed well on an underlying basis with +41% underlying net profit growth. This was driven by improved operating performance and lower finance costs following the full repayment of debt. Q1 2024 enjoyed the one-off benefit from the disposal of non-core assets, partly offset by costs associated with the merger. Strong Cash Flow and Debt Free Balance Sheet MAIR continued to generate a strong cashflows and ended the quarter with AED 549 million of cash after repayment of all remaining external debt in full. This gives MAIR the ability to continue to invest in its strategic growth initiatives across both the grocery retail and commercial real estate segments. Commenting on MAIR's first quarter results, Mr. Nehayan Alameri, Managing Director and Group CEO, MAIR Group, said: 'Our Q1 results reflect the early impact of our transformation strategy; streamlining operations, rebranding our store network, and unlocking synergies across our retail and commercial real estate platforms. Our strong cash flow and debt-free position allow us to reinvest confidently in building modern retail experiences and community-centered real estate. We remain committed to sustainable growth and serving the evolving needs of UAE consumers.' About MAIR Group The strategic investment company Mair Group has been established in Abu Dhabi, marking the launch of a transformative company focusing on driving purposeful business growth across key sectors of the economy. Mair Group manages a portfolio of well-established businesses, including ADCOOP - its flagship retail arm - and SPAR, a premium European supermarket chain that has been in Abu Dhabi for over a decade. The leading retail chain 'ADCOOP' was founded in 1977 which united seven trusted retail brands - Abu Dhabi Coop, Al Ain Coop, Al Dhafra Coop, Delma Coop, COOPS, Earth, and Mega Mart - under one cohesive identity based on a resolution issued by the Abu Dhabi Department of Economic Development. Mair's commercial real estate portfolio, Makani, positions as one of the top 5 property operators in Abu Dhabi, supported by 92% occupancy rate across 392,000 square meters of premium space across 70+ community hubs and many other commercial assets including Al Ain Mall. Operating with a vertical integration model, Mair Group supports growth in the local economy, ensuring the continuity of its commitment to the local community, while remaining focused on the national food security agenda of the United Arab Emirates.
Zawya
26-02-2025
- Business
- Zawya
ADCOOP unveils Ramadan 2025, focused on families, communities and affordability with up to 60% discounts
Key Highlights of the Ramadan 2025 Campaign: Ramadan Wow Offers: Discounts of up to 60% and over 4,000 products on promotion, including bulk offers tailored for families. Affordable Essentials: 185 key Ramadan items priced lower than last year. Cash Back Offer: Customers will receive AED 50 back spent on the next purchase for every AED 250 spent, adding extra value to their purchases. Community Foucus: 25 million investment, including 30,000 Iftar gifts distributed, and a strong partnership with the Khalifa foundation for the holy month On going Community support: All year long unveiling permanent 1,400 essentials at "Always Low Prices' Abu Dhabi, UAE: ADCOOP has launched its Ramadan 2025 campaign, a comprehensive initiative designed to ease shopping and foster community spirit during the holy month. ADCOOP CEO Bertrand Loumaye emphasized ADCOOP's commitment to serving its customers during Ramadan, a time of generosity and togetherness. The campaign features significant savings, including up to 60% off over 4,000 products, and lower prices on 185 essential Ramadan items. A generous cashback offer gives AED 50 back to customers for every AED 250 spent. ADCOOP has also invested AED 25 million in the Ramadan price drops. Commitment to Community: ADCOOP has taken the initiative to distribute 30,000 Iftar gifts and created 8000 pre-packed Ramadan essentials boxes in 2 formats, priced at AED 100 and AED 150, available in the stores and online. ADCOOP has also been supporting the Khalifa Foundation to help them achieve their local goals. Mr. Loumaye stressed ADCOOP's commitment to supporting the community, stating, "Our primary goal during Ramadan is to ensure our customers can access wholesome, nutritious, and high-quality food at affordable prices. This year, our team has worked tirelessly to offer even lower prices than last Ramadan. Mr. Loumaye aslo added that during Ramadan, ADCOOP offers customers a seamless and hassle-free shopping experience through fast and reliable express deliveries via the ADCOOP e-commerce app but also on Instashop and Talabat. To meet increased demand during the holy month, ADCOOP has boosted the online availability of essential products. Customers can shop at all ADCOOP locations across Abu Dhabi, Al Ain, Dafra, Delma, Sharjah, and Ras Al Khaimah, as well as online. Furthermore, ADCOOP's commitment to the community continues year-round with 1,400 essential items offered at "Always Low Prices" across the key categories, including fresh. About ADCOOP: ADCOOP is a community-centered retail destination in the UAE, offering exceptional service, unbeatable value, and a shopping experience enriched by Emirati culture and global influences. With over 100 stores serving more than 65,000 shoppers daily, ADCOOP's mission is to enrich lives and support communities by delivering quality products tailored to the diverse needs of Arab families. The brand blends tradition and modernity, providing culturally relevant offerings while embracing innovation to foster growth and connection. For more information on ADCOOP's offerings and initiatives.
