Latest news with #MultiplyGroup
Fibre2Fashion
01-08-2025
- Business
- Fibre2Fashion
Multiply acquires 67.9% of Spain's Tendam, doubles EBITDA post-deal
Multiply Group (ADX: MULTIPLY), the Abu Dhabi-based investment holding company that invests in and operates businesses globally, completed its first major investment in Europe with the acquisition of a majority stake in Tendam, Spain's second-largest apparel group by market share. The deal doubles Multiply's operational EBITDA post-consolidation and expands its model to acquire standout businesses, unlock potential through capital and tech, and deliver sustained market leadership. Multiply Group (ADX: MULTIPLY) has acquired a 67.91 per cent stake in Spain's Tendam, marking its first major European investment and entry into retail and apparel. The deal doubles Multiply's operational EBITDA and aims to drive Tendam's global growth using AI, digital tools, and targeted M&A, with Tendam reporting ~$1.60 billion in sales and ~$388 million in EBITDA. As one of Europe's leading omnichannel apparel groups, Tendam operates more than 1,800 points of sale and runs successful digital loyalty programmes in over 80 markets, including Spain, Portugal, France, the UAE, and Latin America, making it well-positioned in the evolving retail landscape. From affordable fashion to premium styles, the company's diversified portfolio of 12 established brands caters to multiple customer segments through its leading fashion brands such as Women'secret, Springfield, Cortefiel and Pedro del Hierro, among others. Multiply now has a majority interest of 67.91% in Castellano Investments S.À R.L. ('Company') (the owner of Tendam Brands S.A.U. and other subsidiaries), with Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles for CVC Funds and PAI Partners, remaining as minority shareholders. With this investment, Multiply Group deepens its investments in consumer-focused industries and establishes a presence in the retail and apparel sector, with Tendam becoming a platform business under Multiply's Retail & Apparel vertical. Multiply will lead the next growth phase of Tendam. This growth is predicated on further international expansion across Europe, Latin America, and the Middle East. Embedding AI across all aspects of the business, from sourcing to customer operations, will support this growth journey and will leverage the digital infrastructure the company already has in place. In addition, Multiply will support the business on targeted M&A to introduce new brands and categories. Samia Bouazza, Group CEO and Managing Director of Multiply Group , said: 'This acquisition marks Multiply Group's strategic entry into the retail and apparel sector. By securing a controlling interest in a leading omnichannel platform, we are investing in a future-focused, high-performing business model backed by an outstanding management team. Built on strong, well-established owned brands, the platform offers the agility and vision to expand into new categories and scale emerging brands globally. The acquisition of Tendam's businesses in Bosnia and Herzegovina will not become effective until it is authorised by the relevant competition authority, which is expected to be received shortly. With our expertise in creating synergies, deploying AI, and driving strategic M&A, we are poised to accelerate growth and unlock long-term value for our shareholders.' From a strategic standpoint, the acquisition offers Multiply Group a significant opportunity to leverage Tendam's strong brand platform and proven performance to drive future growth, supported by favourable consumer tailwinds in the global apparel retail market. Jaume Miquel, Chairman and CEO of Tendam , highlighted: 'Today we are starting a new era. Together, shareholders and management team, will fully deploy the Tendam potential, extending our brands to new formats, markets and channels supported by advanced artificial intelligence and digital technology, delivering stronger growth and profitability through a unique, unrivalled omnichannel brand ecosystem.' Since 2020, driven by its proven management team, Tendam has recorded steady, quarter-on-quarter growth, strengthening its business model in core markets while expanding its international presence. At the end of June 2025, the company reported last twelve months sales of €1.4 billion (~$1.60 billion) and EBITDA post-IFRS 16 of €340.7 million (~$388 million). Multiply Group has been advised by Greenhill (a Mizuho affiliate), Hogan Lovells and KPMG on the transaction. Castellano and its current shareholders have been advised by Uria Menendez. Ramón Hermosilla Abogados and Latham & Watkins LLP were legal advisors to Tendam on this transaction. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Zawya
31-07-2025
- Business
- Zawya
UAE: Multiply Group's revenues hike to over $272mln in H1-25
Abu Dhabi: The gross profits of Multiply Group increased to AED 509.04 million in the first half (H1) of 2025 from AED 324.62 million in H1-24. Revenue stood at AED 1.02 billion in H1-25, an annual surge from AED 690.70 million, according to the financial results. Basic and diluted earnings per share (EPS) amounted to AED 0.057 in the first six months (6M) of 2025. Financials for Q2 In the second quarter (Q2) of 2025, the gross profits jumped to AED 260.53 million from AED 159.50 million in Q2-24. The revenues hiked to AED 503.31 million in Q2-25 from AED 361.34 million in April-June 2024. In June 2025, Multiply Group agreed to monetize its 100% stake in PAL Cooling Holding for approximately AED 3.80 billion, selling to a consortium led by Tabreed and CVC DIF. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
Zawya
30-07-2025
- Business
- Zawya
Video Archives July 30, 2025 MENA private equity deals fall 38% in H1 as risk aversion weighs Risk aversion impacted MENA private equity deals
Videos VIDEO ARCHIVES Video Archives UAE and Saudi Arabia cement Gulf's dominance in Global ESG sukuk market in H1 Video Archives UAE's Multiply Group acquires 67% stake in Spain's Tendam for $1.5bln Video Archives Islamic investment deals in UAE hit $1.53bln This makes the emirates one of the world's top destinations for investors seeking to align with the principles of Islam Video Archives Proceeds from GCC IPOs decline 6% in H1 2025 to $3.4bln Despite economic uncertainty, the GCC still managed to outpace last year's offerings with 24 listings in 2025, compared to the 23 recorded in H1 2024 Video Archives M&A deals in MENA jump 149% in H1 2025 This is a 149% increase compared to the same period last year Video Archives GCC stocks rally in June on easing Middle East tensions The S&P GCC Composite Index posted a 3% gain during the month, led by equities in Kuwait and Dubai. Video Archives Saudi Arabia's CMA approves three IPOs Property developer AlRamz Real Estate Company will float 12,857,143 shares, representing 30% of its share capital. Video Archives Fitch affirms UAE's AA- rating; expects conflict to be short-lived The long-term foreign-currency issuer default rating (IDR) with a stable outlook mainly benefits from the UAE capital's substantial sovereign net foreign assets, which were estimated to be 157% of the country's gross domestic product (GDP) last year. Video Archives UAE, Saudi Arabia to see higher economic growth 'The UAE's economy is set to maintain its strong growth momentum, driven by rising oil output and robust activity in the non-oil sector, which is being supported by a loose fiscal stance' James Swanston, MENA economist at Capital Economics.
Campaign ME
29-07-2025
- Business
- Campaign ME
Multiply Group's media and comms vertical sees EBIDTA rise 60% YoY in Q2 2025
Abu Dhabi Securities Exchange (ADX)-listed Multiply Group, a leading Abu Dhabi-based investment holding firm, has revealed the financial results of its media and communications vertical, which includes Multiply Media Group and Viola Communications, for the second quarter (Q2) of 2025. This media and communications vertical delivered strong performance in Q2 2025, with earnings before interest, taxes, depreciation, and amortisation (EBITDA) up 60 per cent year-on-year. Growth was reportedly driven by favourable market dynamics and the success of a powerhouse strategy, which unlocked value across both static and digital signage. The second quarter of 2025 also marked the official launch of Multiply Media Group (MMG), uniting BackLite Media, Viola Media, Media 247 and Purple Printing to create a new UAE-based market-leading media company. MMG has also expanded its footprint in the UK, through its long‑term partnership agreement with Wildstone, securing exclusive rights to operate high‑impact digital out-of-home (DOOH) sites across central London. In a key leadership move in 2025, Viola Communications also appointed industry veteran Piero Poli as CEO to accelerate AI‑led innovation and drive regional expansion. With more than 25 years of experience across media, digital transformation, and data strategy, Poli brings a global perspective and a sharp focus on what's next. His mandate at Viola Communications includes: scale impact, deepen client value and future-proof the agency through AI-powered intelligence, strategic partnerships and integrated media solutions. The financial results of the media and communications vertical were part of Multiply Group's larger reporting on EBIDTA excluding fair value changes of AED395m in Q2 2025, registering AED 214m in group net profit excluding fair value changes, with 39 per cent revenue growth across its operating portfolio. Samia Bouzza, Group Chief Executive Officer and Managing Director, Multiply Group, said, 'This quarter's revenue growth of 39 per cent reflects the strong double-digit performance delivered across all verticals. This momentum translated into a 69 per cent increase in operating EBITDA and a 52 per cent rise in net income from our operating subsidiaries.' Bouzza added, 'While our inorganic initiatives contributed to the Group's overall growth, organic EBITDA from our operating businesses increased by 54 per cent year-on-year, led by our media and mobility verticals.'
Khaleej Times
29-07-2025
- Business
- Khaleej Times
Multiply Group posts Dh214 million net profit in second quarter
Multiply Group, a leading Abu Dhabi-based investment holding firm, on Tuesday announced its Q2 2025 net profit at Dh214 million excluding fair value changes, with 39% revenue growth across the operating portfolio. Ebitda excluding fair value changes of stood at Dh395 million (Dh403 million in Q2 2024). Adjusting for the impact of the Kalyon Enerji joint venture (realising a share of loss as a result of foreign exchange losses arising from the revaluation of EUR-dominated loans), the Group's Ebitda rose 38 per cent year-on-year (YoY) for Q2 2025. Net profit from subsidiaries increased 52 per cent underpinned by solid growth across verticals. Reported profit of Dh532 million included Dh318 million in unrealised gains from revaluation, driven by periodic market fluctuations. The Group continues to focus on integrating operations across its verticals, with an emphasis on digital transformation and operational efficiency. These efforts have contributed to strong revenue momentum. Group revenue increased by 39 per cent YoY to Dh503 million, driven by growth across all verticals, the full-quarter consolidation of The Grooming Company Holding and the acquisition of Excellence Driving. Blended gross profit margin remained healthy at 52 per cent, reflecting continued profitability across the core portfolio. The Group's net profit from operating businesses increased by 52 per cent on the back of the Beauty vertical more than doubling net profit and the Mobility vertical increasing net profit by 48 per cent as a result of organic and inorganic growth while Media vertical grew by 23 per cent. The Group recorded a share of loss from Kalyon JV amounting to Dh54 million in Q2 2025 (Q2 2024 - Dh78 million gain) as a result of the foreign exchange losses from the revaluation of EUR-denominated loans on the back of a stronger Euro. The Group's balance sheet remains robust, with cash balance of Dh1.85 billion. Execution of its long-term strategy continues to deliver results, as the Group builds a diversified portfolio across core verticals while pursuing high-return investments under Multiply+ Under Multiply+, the Group's public market portfolio closed the quarter with a valuation of Dh32 billion, compared to an initial investment of Dh15 billion. Despite market fluctuations affecting the fair value of some assets, performance across the portfolio remains strong as does the underlying long-term potential from targeted investments. Samia Bouazza, group chief executive officer and managing director, said: 'This quarter's revenue growth of 39 per cent reflects the strong double-digit performance delivered across all verticals. This momentum translated into a 69 per cent increase in operating Ebitda and a 52 per cent rise in net income from our operating subsidiaries. These gains were partially offset by an adverse Dh132 million impact from our share of profit in the Kalyon joint venture, primarily due to foreign exchange losses arising from the revaluation of EUR-dominated loans. While our inorganic initiatives contributed to the Group's overall growth, organic Ebitda from our operating businesses increased by 54 per cent year-on-year, led by our Media & Mobility Verticals. During the quarter, we also signed a definitive agreement to divest our 100 per cent stake in PAL Cooling Holding, a prominent provider of district cooling solutions in the UAE catering to landmark residential, commercial and mixed-use developments in Abu Dhabi. The transaction, valued at c. Dh3.8 billion, will result in significant cash inflows. These proceeds will be strategically redeployed to support future growth opportunities as we actively evaluate options to optimize our balance sheet and strengthen Multiply Group's capital structure.'
