Latest news with #Esterad
Zawya
21 hours ago
- Business
- Zawya
Bahrain: Esterad posts Q2 net profit of $2.76mln
Bahrain - Esterad announced its financial results for the second quarter of 2025 ending June 30, 2025. Net profit attributable to shareholders was BD1,041,757 for the second quarter of 2025 compared to BD885,853 for the same period last year, reflecting an increase of 18 per cent. Esterad continued to deliver double-digit growth, driven by disciplined execution of its restructuring strategy and performance across its diversified global private equity, public marketand real estate portfolio. Earnings per share for the quarter was 6.4 fils compared with 5.8 Fils in the second quarter of last year. Total comprehensive income attributable to shareholders amounted to BD1,183,296 in Q2 2025 compared to BD290,269 in the same quarter of last year, representing a significant increase of 308pc. Total income for the second quarter stood at BD2,227,469, marking an 18pc decline compared to BD2,716,940 in the second quarter of 2024. Profit rose despite lower income owing to a 33pc cut in total expenses and a 61pc drop in interest costs following deleveraging. For the first six months of the year, net profit attributable to shareholders rose to BD1,531,362, a 16pc increase from the BD1,321,646 reported in the same period of 2024. Earnings per share for first half of 2025 was 9.5 fils compared with 8.6 fils in H1 2024. Total comprehensive income attributable to shareholders in the first six months of 2025 amounted to BD1,714,247, compared with BD855,310 for the corresponding period of 2024, representing an increase of 100pc. Total income for the first six months of 2025 was BD4,087,553 compared to BD4,694,745 in the same period of 2024, down by 13pc. As of 30 June 2025, total equity attributable to shareholders reached BD43,141,313, a 1pc decline from the BD43,377,483 recorded as of December 31, 2024. Total assets decreased by 11pc to BD83,142,818 compared to BD93,100,840 on December 31, 2024, primarily because of portfolio restructuring and investment exits. In line with its strategic objectives, Esterad continued to deleverage its balance sheet and reduce financing costs, utilising proceeds from profitable investment exits, including primary listed equities in the first half of the year, to prepay debt early, further strengthening its financial position. Commenting on the results, Nabeel Noorudin, board chairman of Esterad, said: 'Our results for the second quarter reaffirm Esterad's continued ability to deliver resilient performance and value creation, despite global macroeconomic challenges. The strong growth in earnings reflects disciplined execution of our long-term strategy, which is focused on optimising our capital structure, enhancing returns from core assets, and exiting legacy investments. 'We have made significant progress on our restructuring roadmap, with successful partial exits of global listed equities. These efforts are enabling us to redeploy capital into higher-yielding and strategically aligned opportunities across key markets. Esterad remains strongly positioned to capitalise and identify unique investment opportunities that offer risk-adjust returns for our shareholders.' Elaborating further, Mr Noorudin added: 'In parallel, we are actively working on several strategic transactions targeted to close in the second half of the year, which are expected to drive future growth in both business activity and profitability. These include niche new opportunities in defensive sectors and opportunistic yielding real estate projects. In addition, we are also looking forward to resuming construction and beginning sales of one of our recently acquired, partially completed real estate projects in Bahrain in the second half of the year.' On his part, Ahmed Abdulrahman, chief executive officer of Esterad, stated: 'We are pleased with our performance in the second quarter and the continued execution of our strategy, which has resulted in sustained profit growth and stronger financial position. Our focus remains on activating newly acquired assets and exiting legacy holdings as we successfully realised value from the exit of our global listed equities in the last quarter. We remain fully committed to the turnaround and repositioning of key assets across our diversified global portfolio, unlocking long-term value, and deploying capital efficiently into high-potential opportunities. A key priority in the second half of the year is to resume construction and begin sales on a recently acquired, incomplete real estate project. ' He added: 'A key contributor to our positive momentum has been the progress of Esterad Bank, which continues to advance on its strategic roadmap. The bank entered 2025 with strengthened capital and a healthy pipeline of investment opportunities. During Q2, the bank made further progress on strategic acquisitions as they are in advanced stages of negotiation on three deals, with expected closures in the third quarter. We remain confident in our ability to deliver superior returns for our investors by capitalising on these compelling, income-generating investments.' Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
Esterad reports net profit attributable to shareholders of BD 1.04mln for Q2 2025
Manama – Esterad Investment Co. B.S.C. (' Esterad ' or 'the Company ') (Trading Code: ESTERAD) announced its financial results for the second quarter of 2025 ('the quarter') ending June 30, 2025. Net profit attributable to shareholders was BD 1,041,757 for the second quarter of 2025 compared to BD 885,853 for the same period last year, reflecting an increase of 18%. Esterad continued to deliver double-digit growth, driven by disciplined execution of its restructuring strategy and performance across its diversified global private equity, public market and real estate portfolio. Earnings per share for the quarter was 6.4 Fils compared with 5.8 Fils in the second quarter of last year. Total comprehensive income attributable to shareholders amounted to BD 1,183,296 in Q2 2025 compared to BD 290,269 in the same quarter of last year, representing a significant increase of 308%. Total income for the second quarter stood at BD 2,227,469, marking an 18% decline compared to BD 2,716,940 in the second quarter of 2024. Profit rose despite lower income owing to a 33% cut in total expenses and a 61% drop in interest costs following deleveraging. For the first six months of the year, net profit attributable to shareholders rose to BD 1,531,362, a 16% increase from the BD 1,321,646 reported in the same period of 2024. Earnings per share for first half of 2025 was 9.5 Fils compared with 8.6 Fils in H1 2024. Total comprehensive income attributable to shareholders in the first six months of 2025 amounted to BD 1,714,247, compared with BD 855,310 for the corresponding period of 2024, representing an increase of 100%. Total income for the first six months of 2025 was BD 4,087,553 compared to BD 4,694,745 in the same period of 2024, down by 13%. As of 30 June 2025, total equity attributable to shareholders reached BD 43,141,313, a 1% decline from the BD 43,377,483 recorded as of 31 December 2024. Total assets decreased by 11% to BD 83,142,818 compared to BD 93,100,840 on 31 December 2024, primarily because of portfolio restructuring and investment exits. In line with its strategic objectives, Esterad continued to deleverage its balance sheet and reduce financing costs, utilising proceeds from profitable investment exits, including primary listed equities in the first half of the year, to prepay debt early, further strengthening its financial position. Commenting on the results, Mr. Nabeel Noorudin, Board Chairman of Esterad, said: 'Our results for the second quarter reaffirm Esterad's continued ability to deliver resilient performance and value creation, despite global macroeconomic challenges. The strong growth in earnings reflects disciplined execution of our long-term strategy, which is focused on optimising our capital structure, enhancing returns from core assets, and exiting legacy investments. We have made significant progress on our restructuring roadmap, with successful partial exits of global listed equities. These efforts are enabling us to redeploy capital into higher-yielding and strategically aligned opportunities across key markets. Esterad remains strongly positioned to capitalise and identify unique investment opportunities that offer risk-adjust returns for our shareholders.' Elaborating further, Mr. Noorudin added: 'In parallel, we are actively working on several strategic transactions targeted to close in the second half of the year, which are expected to drive future growth in both business activity and profitability. These include niche new opportunities in defensive sectors & opportunistic yielding real estate projects. In addition, we are also looking forward to resuming construction and beginning sales of one of our recently acquired, partially completed real estate projects in Bahrain in the second half of the year.' On his part, Mr. Ahmed Abdulrahman, Chief Executive Officer of Esterad, stated: 'We are pleased with our performance in the second quarter and the continued execution of our strategy, which has resulted in sustained profit growth and stronger financial position. Our focus remains on activating newly acquired assets and exiting legacy holdings as we successfully realised value from the exit of our global listed equities in the last quarter. We remain fully committed to the turnaround and repositioning of key assets across our diversified global portfolio, unlocking long-term value, and deploying capital efficiently into high-potential opportunities. A key priority in the second half of the year is to resume construction and begin sales on a recently acquired, incomplete real estate project. ' He added: 'A key contributor to our positive momentum has been the progress of Esterad Bank, which continues to advance on its strategic roadmap. The Bank entered 2025 with strengthened capital and a healthy pipeline of investment opportunities. During Q2, the Bank made further progress on strategic acquisitions as they are in advanced stages of negotiation on three deals, with expected closures in the third quarter. We remain confident in our ability to deliver superior returns for our investors by capitalising on these compelling, income-generating investments.' -Ends- Note: The press release and the full financial statements are available on About Esterad Investment Company Esterad Investment Co. B.S.C. ('Esterad') is a leading investment firm and one of the oldest to be established in the Kingdom of Bahrain. Founded in 1973 and listed on the Bahrain Bourse, Esterad has pioneered investments into key national projects and industries and has a long and proven track record of making secure investments in a variety of assets, regionally and internationally. Esterad's investment divisions include Real Estate, Private Equity and Public Market investments. The Company invests proprietary capital across a broad spectrum of real estate assets in lucrative locations and sought-after destinations. It also leverages its extensive experience and expertise in multi sector private equity, investing in diversified industries including Infrastructure, Technology, F&B, Services, and Real Estate across the GCC. Esterad's Public Instruments division invests capital in both equities and fixed income securities in Bahrain as well as in regional and global markets. With an ambition rooted in transformative investments in Bahrain and beyond, Esterad's world class management team selects investments based on stringent risk parameters, and the value it can add for shareholders, and the economies and societies in which it operates and serves. Media Contacts For more information, please contact: Yousif Amin Senior Associate – Corporate Communications Email: YAmin@
Zawya
12-05-2025
- Business
- Zawya
Bahrain: Esterad reports profit growth
Esterad has reported net profit of BD489,605 for the first quarter of 2025 compared to BD435,793 for the first quarter of 2024, an increase of 12 per cent. Stronger profits were a result of gains primarily from the continued restructuring of the company's previously acquired diversified global private equity and real estate portfolio. Earnings per share for the quarter was 3.2 fils compared with 2.8 fils in the first quarter of last year. Total comprehensive income amounted to BD530,951 in the first quarter of 2025 compared to BD565,041 in the first quarter of last year. Total income for the first quarter was BD1,860,084 compared to total income of BD1,977,805 in the first quarter of 2024, down 6pc. The decrease resulted primarily from decline in the company's Turkish listed equity portfolio in line with the declines seen in the Turkish equity indices during the first quarter. These equity positions have, however, already recovered in value in the second quarter. Total equity was BD44,265,270 at the end of the first quarter versus BD43,377,483 at end-December 2024, an increase of 2pc primarily related to current period profit. Total assets decreased by 6pc to BD87,585,870 compared to BD93,100,840 as of end-December 2024, primarily resulting from declines in the company's Turkish listed equity portfolio. Commenting on the results, Hisham Alrayes, chairman of Esterad, said: 'We are pleased to report sound results and performance for the first quarter of 2025. Building on momentum across our business, we successfully delivered another quarter of double-digit growth in profitability despite market volatility. During the first quarter of the year, we continued to make progress in the restructuring and management of key turnaround assets acquired in late 2023 with recovery of value reflecting positively on results.' Mr Alrayes added: 'I am also pleased to announce that Nabeel Nooruddin will be succeeding me as chairman of Esterad. Over my six-year tenure, and in close collaboration with the board of directors, we succeeded in transforming Esterad into one of the region's leading investment companies. I am confident that under Mr Nooruddins leadership, Esterad will continue to build on this momentum and achieve even greater success in the years ahead.' Commenting on the financial results, Esterad chief executive Ahmed Abdulrahman said: 'We are proud to announce strong results for the first quarter, and we will continue with our efforts to reposition additional assets within our diversified global real estate and private equity portfolio to unlock greater value during the remainder of the year.' Mr Abdulrahman added: 'On behalf of the board and management team, I would like to sincerely thank Hisham Alrayes for his dedicated leadership and invaluable contributions during his tenure as chairman. We also warmly welcome Nabeel Nooruddin as our new chairman and look forward to working with him to build on this momentum and lead the Company into its next phase of growth.' Nabeel Nooruddin, incoming chairman of Esterad, added: 'I am honoured to take on the role of Chairman at such a pivotal time for Esterad. I look forward to working closely with the Board and management team to further strengthen our investment platforms and pursue new strategic opportunities that will enable us to continue creating sustainable value for our shareholders.' Mr Nooruddin brings over two decades of regional and international financial experience, including founding and leading Alpine Wealth Management. His expertise spans wealth management, investment strategy, financial planning, and international trade. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
11-05-2025
- Business
- Zawya
Esterad reports a 12% increase in net profit attributable to shareholders for the first quarter of 2025; appoints New Chairman, Mr. Nabeel Nooruddin Succeeding Mr. Hisham AlRayes
Manama: Esterad Investment Co. B.S.C. (' Esterad ' or 'the Company ') (Trading Code: ESTERAD) announced its financial results for the first quarter of 2025 ('the quarter') ending March 31, 2025. Net profit attributable to shareholders was BD 489,605 for the first quarter compared to BD 435,793 for the first quarter of 2024, an increase of 12%. Stronger profits were a result of gains primarily from the continued restructuring of the Company's previously acquired diversified global private equity and real estate portfolio. Earnings per share for the quarter was 3.2 fils compared with 2.8 fils in the first quarter of last year. Total comprehensive income attributable to shareholders amounted to BD 530,951 in the first quarter of 2025 compared to BD 565,041 in the first quarter of last year. Total income for the first quarter was BD 1,860,084 compared to total income of BD 1,977,805 in the first quarter of 2024, down 6%. The decrease resulted primarily from decline in the Company's Turkish listed equity portfolio in line with the declines seen in the Turkish equity indices during the first quarter. These equity positions have, however, already recovered in value in the second quarter. Total equity attributable to shareholders was BD 44,265,270 at the end of the first quarter versus BD 43,377,483 at 31 December 2024, an Increase of 2% primarily related to current period profit. Total assets Decreased by 6% to BD 87,585,870 compared to 93,100,840 at 31 December 2024, primarily resulting from declines in the Company's Turkish listed equity portfolio. Commenting on the results, Mr. Hisham Alrayes, Chairman of the Board of Directors of Esterad, said, 'We are pleased to report sound results and performance for the first quarter of 2025. Building on momentum across our business, we successfully delivered another quarter of double-digit growth in profitability despite market volatility. During the first quarter of the year, we continued to make progress in the restructuring and management of key turnaround assets acquired in late 2023 with recovery of value reflecting positively on results.' Mr. Hisham Alrayes added, 'I am also pleased to announce that Mr. Nabeel Nooruddin will be succeeding me as Chairman of Esterad. I have made the decision to hand over leadership of the Company to focus on GFH Financial Group and my private business ventures. Over my six-year tenure, and in close collaboration with the board of directors, we succeeded in transforming Esterad into one of the region's leading investment companies. I am proud of the solid foundation we have built, delivering strong financial performance and advancing our investment strategy. I am confident that under Mr. Nooruddin's leadership, Esterad will continue to build on this momentum and achieve even greater success in the years ahead.' Commenting on the financial results, Mr. Ahmed Abdulrahman, Chief Executive Officer, said, 'We are proud to announce strong results for the first quarter, and we will continue with our efforts to reposition additional assets within our diversified global real estate and private equity portfolio to unlock greater value during the remainder of the year.' 'A contributor to our positive performance in the first quarter was the continued progress of Esterad Bank. The Bank entered the year on strong footing, having successfully returned to profitability in 2024 and strengthened its financial foundations through the effective recapitalization of the business, deleveraging of the balance sheet, and a return to positive equity. During the first quarter of 2025, the Bank continued its strategic focus on identifying and executing high-value opportunities with a strong pipeline of new deals. This includes work on two strategic acquisitions in the US and UK commercial real estate sectors, which it undertook during the first three months of the year and expects to close during the second quarter. These opportunities, which have been secured at preferential rates and will enable us to realise a high rate of return, reflect our confidence in the long-term fundamentals of these key global markets for the Bank and its GCC investor base. The Bank is also in the advanced stages of executing three additional transactions in the regional commercial real estate and private equity sector, which it expects to close during the second or third quarter of the year. We are pleased with this strong pipeline of activity, and investor appetite for these sound and unique income-generating investments Esterad Bank continues to source and bring to market.' Mr. Abdulrahman added, "On behalf of the Board and management team, I would like to sincerely thank Mr. Hisham Alrayes for his dedicated leadership and invaluable contributions during his tenure as Chairman. Under his guidance, Esterad has made significant progress in strengthening its financial position and advancing its investment strategy. Mr. Hisham Alrayes will remain a supportive shareholder of the Company. We also warmly welcome Mr. Nabeel Nooruddin as our new Chairman and look forward to working with him to build on this momentum and lead the Company into its next phase of growth." Mr. Nabeel Nooruddin, incoming Chairman of Esterad, added, 'I am honoured to take on the role of Chairman at such a pivotal time for Esterad. The Company has demonstrated strong resilience and focus in repositioning its portfolios and delivering positive results and growth despite challenging market conditions. I look forward to working closely with the Board and management team to further strengthen our investment platforms and pursue new strategic opportunities that will enable us to continue creating sustainable value for our shareholders." Mr. Nooruddin brings over two decades of regional and international financial experience, including founding and leading Alpine Wealth Management, where he focused on strategic wealth advisory and investment planning after having worked at Merrill Lynch and Citibank, building a strong foundation in financial planning and risk management. His expertise spans wealth management, investment strategy, financial planning, and international trade. About Esterad Investment Company Esterad Investment Co. B.S.C. ('Esterad') is a leading investment firm and one of the oldest to be established in the Kingdom of Bahrain. Founded in 1973 and listed on the Bahrain Bourse, Esterad has pioneered investments into key national projects and industries and has a long and proven track record of making secure investments in a variety of assets, regionally and internationally. Esterad's investment divisions include Real Estate, Private Equity and Public Market investments. The Company invests proprietary capital across a broad spectrum of real estate assets in lucrative locations and sought-after destinations. It also leverages its extensive experience and expertise in multi sector private equity, investing in diversified industries including Infrastructure, Technology, F&B, Services, and Real Estate across the GCC. Esterad's Public Instruments division invests capital in both equities and fixed income securities in Bahrain as well as in regional and global markets. With an ambition rooted in transformative investments in Bahrain and beyond, Esterad's world class management team selects investments based on stringent risk parameters, and the value it can add for shareholders, and the economies and societies in which it operates and serves.
Biz Bahrain
11-05-2025
- Business
- Biz Bahrain
Esterad Reports a 12% Increase in Net Profit Attributable to Shareholders for the First Quarter of 2025; Appoints New Chairman, Mr. Nabeel Nooruddin Succeeding Mr. Hisham AlRayes
Esterad Investment Co. B.S.C. ('Esterad' or 'the Company') (Trading Code: ESTERAD) announced its financial results for the first quarter of 2025 ('the quarter') ending March 31, 2025. Net profit attributable to shareholders was BD 489,605 for the first quarter compared to BD 435,793 for the first quarter of 2024, an increase of 12%. Stronger profits were a result of gains primarily from the continued restructuring of the Company's previously acquired diversified global private equity and real estate portfolio. Earnings per share for the quarter was 3.2 fils compared with 2.8 fils in the first quarter of last year. Total comprehensive income attributable to shareholders amounted to BD 530,951 in the first quarter of 2025 compared to BD 565,041 in the first quarter of last year. Total income for the first quarter was BD 1,860,084 compared to total income of BD 1,977,805 in the first quarter of 2024, down 6%. The decrease resulted primarily from decline in the Company's Turkish listed equity portfolio in line with the declines seen in the Turkish equity indices during the first quarter. These equity positions have, however, already recovered in value in the second quarter. Total equity attributable to shareholders was BD 44,265,270 at the end of the first quarter versus BD 43,377,483 at 31 December 2024, an Increase of 2% primarily related to current period profit. Total assets Decreased by 6% to BD 87,585,870 compared to 93,100,840 at 31 December 2024, primarily resulting from declines in the Company's Turkish listed equity portfolio. Commenting on the results, Mr. Hisham Alrayes, Chairman of the Board of Directors of Esterad, said, 'We are pleased to report sound results and performance for the first quarter of 2025. Building on momentum across our business, we successfully delivered another quarter of double-digit growth in profitability despite market volatility. During the first quarter of the year, we continued to make progress in the restructuring and management of key turnaround assets acquired in late 2023 with recovery of value reflecting positively on results.' Mr. Hisham Alrayes added, 'I am also pleased to announce that Mr. Nabeel Nooruddin will be succeeding me as Chairman of Esterad. I have made the decision to hand over leadership of the Company to focus on GFH Financial Group and my private business ventures. Over my six-year tenure, and in close collaboration with the board of directors, we succeeded in transforming Esterad into one of the region's leading investment companies. I am proud of the solid foundation we have built, delivering strong financial performance and advancing our investment strategy. I am confident that under Mr. Nooruddin's leadership, Esterad will continue to build on this momentum and achieve even greater success in the years ahead.' Commenting on the financial results, Mr. Ahmed Abdulrahman, Chief Executive Officer, said, 'We are proud to announce strong results for the first quarter, and we will continue with our efforts to reposition additional assets within our diversified global real estate and private equity portfolio to unlock greater value during the remainder of the year.' 'A contributor to our positive performance in the first quarter was the continued progress of Esterad Bank. The Bank entered the year on strong footing, having successfully returned to profitability in 2024 and strengthened its financial foundations through the effective recapitalization of the business, deleveraging of the balance sheet, and a return to positive equity. During the first quarter of 2025, the Bank continued its strategic focus on identifying and executing high-value opportunities with a strong pipeline of new deals. This includes work on two strategic acquisitions in the US and UK commercial real estate sectors, which it undertook during the first three months of the year and expects to close during the second quarter. These opportunities, which have been secured at preferential rates and will enable us to realise a high rate of return, reflect our confidence in the long-term fundamentals of these key global markets for the Bank and its GCC investor base. The Bank is also in the advanced stages of executing three additional transactions in the regional commercial real estate and private equity sector, which it expects to close during the second or third quarter of the year. We are pleased with this strong pipeline of activity, and investor appetite for these sound and unique income-generating investments Esterad Bank continues to source and bring to market.' Mr. Abdulrahman added, 'On behalf of the Board and management team, I would like to sincerely thank Mr. Hisham Alrayes for his dedicated leadership and invaluable contributions during his tenure as Chairman. Under his guidance, Esterad has made significant progress in strengthening its financial position and advancing its investment strategy. Mr. Hisham Alrayes will remain a supportive shareholder of the Company. We also warmly welcome Mr. Nabeel Nooruddin as our new Chairman and look forward to working with him to build on this momentum and lead the Company into its next phase of growth.' Mr. Nabeel Nooruddin, incoming Chairman of Esterad, added, 'I am honoured to take on the role of Chairman at such a pivotal time for Esterad. The Company has demonstrated strong resilience and focus in repositioning its portfolios and delivering positive results and growth despite challenging market conditions. I look forward to working closely with the Board and management team to further strengthen our investment platforms and pursue new strategic opportunities that will enable us to continue creating sustainable value for our shareholders.' Mr. Nooruddin brings over two decades of regional and international financial experience, including founding and leading Alpine Wealth Management, where he focused on strategic wealth advisory and investment planning after having worked at Merrill Lynch and Citibank, building a strong foundation in financial planning and risk management. His expertise spans wealth management, investment strategy, financial planning, and international trade.
