Latest news with #PresightAIHolding
Zawya
2 days ago
- Business
- Zawya
Presight reports $296.8mln in H1 revenue, up 80.2%
Presight AI Holding, a company specialising in AI-powered analytics and big data, today announced its financial and operational results for the first half of 2025, reporting revenue of AED1.09 billion, an increase of 80.2 percent compared to the same period last year. The company recorded an organic growth rate of 33.5 percent, excluding the contribution of AIQ. EBITDA rose by 59.6 percent to reach AED245.5 million, while net profit increased by 18.8 percent to AED209.7 million. Second-quarter revenue alone reached AED523.9 million, up 53.5 percent year-on-year, with organic growth contributing 19.7 percent. Quarterly EBITDA rose by 45.5 percent year-on-year to AED104.5 million, and net profit grew by 11.5 percent to AED89.7 million, reflecting the impact of the 15 percent corporate tax. The data showed that Presight's international growth was driven by continued expansion in Africa, the Middle East, and Central Asia. These markets contributed 26.8 percent of Q2 revenue, compared to just 4.9 percent during the same period last year. New orders amounting to AED304 million further strengthened performance, raising the company's backlog to AED3.7 billion—more than triple the level recorded last year. Presight ended the period with AED2.0 billion in cash and a debt-free balance sheet, giving it strong flexibility to fund product innovation and pursue expansion goals. Following its strong H1 2025 performance, along with a solid order book and growing revenue from multi-year contracts, the company has raised its medium-term financial guidance. It now expects compound annual growth between 2023 and 2027 in group revenue to range from 21 to 27 percent (previously 19 to 25 percent), EBITDA growth between 17 and 22 percent (previously 16 to 21 percent), and post-tax profit growth between 7 and 12 percent with a 15 percent tax rate (previously 6 to 11 percent). Presight also advanced its strategic agenda internationally and in key growth regions. In Malaysia, the company signed a major agreement to support the government's 'Madani AI' initiative for accelerating digital transformation. In Uganda, it is preparing to launch the National Digital Government Programme in collaboration with the National Information Technology Authority. In Central Asia, Presight expanded its presence by opening a new office in Astana and growing its energy sector partnerships in Kazakhstan through initiatives led by its majority-owned subsidiary AIQ. Domestically, the company signed new contracts with the UAE National Media Office and the UAE Media Council. It also signed a strategic cooperation agreement with the Abu Dhabi Department of Energy to develop the world's first AI-powered platform for managing energy and water. The platform is expected to transform the UAE's utilities and energy ecosystem. Thomas Pramotedham, CEO of Presight, said the H1 results reflect continued growth both domestically and internationally. The company's backlog has tripled compared to last year, and it continues to strengthen sovereign partnerships, affirming its position as a leading partner for AI and digital transformation across the UAE Government and state-owned enterprises through new contracts and strategic agreements in key sectors. He added that international expansion into high-growth markets across the Middle East, Asia and Africa remains central to Presight's growth journey, where it supports governments and major institutions in implementing solutions that enhance public service efficiency, drive economic diversification, and improve national resilience.
Zawya
2 days ago
- Business
- Zawya
Presight reports record first-half growth as revenue surpasses AED 1bln
• Strong Q2 performance driven by 53.5% revenue growth Year-on-Year • International revenue accounted for 26.8% of the total in Q2 2025 Abu Dhabi, UAE: Presight AI Holding Plc ('Presight' or 'the Company'; ADX: PRESIGHT), today announced its financial and operational results for the first half of 2025, highlighting strong performance fueled by continued domestic growth and international expansion. Presight reported AED 1.09 billion in revenue for the first half of 2025, marking an 80.2% increase year-on-year. Organic revenue, excluding the contribution from AIQ, grew by 33.5%. EBITDA rose 59.6% to AED 245.5 million, while net profit increased 18.8% to AED 209.7 million. In the second quarter alone, revenue reached AED 523.9 million, a 53.5% increase compared to Q2 2024, with organic growth accounting for 19.7%. Quarterly EBITDA rose 45.5% year-on-year to AED 104.5 million, and net profit grew 11.5% to AED 89.7 million, reflecting the impact of the 15% corporate tax rate. International markets contributed 26.8% of Q2 revenue, up significantly from 4.9% in the same period last year. New orders totalling AED 304 million further strengthened performance, bringing the company's backlog to AED 3.7 billion, more than triple the level from the previous year. Presight closed the period with AED 2.0 billion in cash and maintained an unlevered balance sheet, providing ample flexibility to fund product innovation and targeted expansion. Upgraded outlook and guidance With the performance in the first half of 2025, together with a robust order backlog and a growing proportion of revenues from multi-year contracts, the company has upgraded its medium-term financial outlook. It now anticipates compound annual growth between 2023 and 2027 as follows: • Group Revenue growth of 21% to 27% (previously 19% to 25%). • Group EBITDA growth of 17% to 22% (previously 16% to 21%). • Group Post-tax Profit growth of 7% to 12%, applying a 15% corporation tax rate (previously 6% to 11%). Strategic and operational progress During the second quarter, Presight continued to strengthen its position as the UAE's sovereign artificial intelligence partner of choice and accelerated its overseas expansion strategy. In the domestic market, new contracts were signed with the UAE National Media Office and the UAE Media Council. The company also signed a Strategic Cooperation Agreement with the Abu Dhabi Department of Energy (DoE) to develop a world-first, AI-powered energy and water management platform which will revolutionise the operation of the entire energy and utilities ecosystem across the UAE. Internationally, Presight is continuing to drive forward its strategic agenda across key growth regions. In Malaysia, the company announced a landmark agreement set to accelerate Malaysia's digital transformation to support the government's Madani AI initiative. In Uganda, it is preparing for a rollout of a national digital government program in collaboration with the National Information Technology Authority. The company has also deepened its footprint in Central Asia, launching a new office in Astana and expanding its energy sector partnerships in Kazakhstan through initiatives led by its majority-owned subsidiary, AIQ. Thomas Pramotedham, CEO of Presight, stated: 'Our first-half performance demonstrates that Presight continues to grow both domestically and internationally. Our backlog is three times larger than it was a year ago, and our sovereign partnerships continue to deepen. Our journey as a key AI and digital transformation partner across the UAE federal government and state-owned enterprises continued at pace, with new contract wins and landmark agreements across key growth sectors. 'Our international expansion across high-growth markets in the Middle East, Asia and Africa, where we support governments and large enterprises to deploy solutions which optimise public service delivery, drive economic diversification, and enhance national resilience, continues to be a material part of our growth trajectory. 'With disciplined execution, new AI platforms coming to market and a deep pool of talent, we are on track to meet our commercial objectives and to compete on a global stage.' Innovation remained central to Presight's strategy during the reporting period. The inaugural cohort of the Presight AI-Startup Accelerator has been announced, enabling early engagement with emerging technologies and strategic growth opportunities. Following the close of the reporting period, Presight announced a series of strategic initiatives designed to advance its regional and global ambitions. The Group unveiled its AI-Policing Suite ahead of the closing period and subsequently signed a cooperation agreement with Abu Dhabi Police to deploy these AI-powered law enforcement and smart city technologies as part of efforts to enhance public safety. The Group also agreed terms on a groundbreaking joint venture with the Central Bank of the UAE to deliver sovereign, AI-native technology solutions that support a resilient, secure, and future-ready financial market infrastructure. In addition, Presight signed a strategic Memorandum of Understanding with Dow Jones to co-develop and commercialise next-generation, AI-driven risk and compliance solutions tailored for global financial institutions, regulators, and sovereign entities. With a strong balance sheet and a network of global strategic partners, Presight is in a strong position for continued growth through faster delivery of sovereign AI solutions, stronger client relationships, and lasting value across key markets. Presight's Applied Intelligence solutions stand to benefit from the growing technology collaboration between the UAE and US, and the UAE's commitment to AI partnerships that accelerate progress for communities around the world, leveraging Abu Dhabi's advanced digital and physical infrastructure. For more information about Presight please go to the investor relations section of the Presight website at About Presight Presight is an ADX-listed public company with Abu Dhabi based G42 as its majority shareholder and is a leading global big data analytics company powered by AI. It combines big data, analytics, and AI expertise to serve every sector, of every scale, to create business and positive societal impact. Presight excels at all-source data interpretation to support insight-driven decision-making that shapes policy and creates safer, healthier, happier, and more sustainable societies. Today, through its range of GenAI-driven products and solutions, Presight is bringing Applied AI to the private and public sector, enabling them to realise their AI strategy and ambitions faster. For further information, please contact Presight@ or media@
Al Etihad
06-05-2025
- Business
- Al Etihad
Presight Q1 revenues surge to Dh563m, up 115% YoY
6 May 2025 22:00 ABU DHABI (ALETIHAD) Presight AI Holding delivered its strongest-ever quarterly performance in Q1 2025, marking a major step forward in its ambition to become a global leader in AI-powered digital for the quarter surged 115.1% year-on-year (YoY) to Dh563.9 million, with international revenue increasing fivefold to Dh127 million, according to press releases posted on the Abu Dhabi Securities Exchange's (ADX) rose by 71.9% to Dh141 million, while profit after tax grew 33.6% on a like-for-like 9% tax basis and 25.1% under the UAE's new 15% corporate tax secured Dh1.44 billion in new orders during the quarter, lifting its total backlog to Dh3.87 billion — a 29% increase compared to December 2024. Notably, 98.8% of total revenue came from multi-year contracts, underscoring the company's strong recurring revenue model. Operating cash flow stood at Dh60.4 million, and Presight ended the quarter with a robust cash position of Dh1.97 billion and no debt, reinforcing its financial strength.
Zawya
13-02-2025
- Business
- Zawya
Presight delivers record $602mln revenue, up 24.3%
Presight AI Holding has reported record revenues of AED2.213 billion ($602.5 million) for 2024, an increase of 24.3% compared to FY 2023 as the company continued to reap the rewards of its comprehensive offering, investments, and growth in international operations. The strong performance reflected in EBITDA as well, which grew 25.2% YoY to AED635.4 million due to a favourable deployment mix in FY 2024, the company said. At its bottom-line, the company reported net profit after tax of AED612.8 million, reflecting an increase of 7.4% YoY in FY 2024, including a maiden year of corporation tax. Presight's top-line performance came on the back of a growing proportion of multi-year contracts, strong new orders, as well as the company's expansion across international markets as it continues to extend its offering to customers globally. On this front, international markets contributed 23.0% of Presight's revenue and booked a 3.5x increase to AED508.2 million in FY 2024. Moreover, Presight's highly liquid, debt-free balance sheet, with a cash and equivalents balance of AED 1.94 billion in FY 2024, provides ample financial flexibility to support operations and headroom to drive future growth, it said. Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of the Board of Directors of Presight, commented: 'Presight's full year results demonstrate strong execution against strategic objectives, namely international expansion, investing in capability and innovation, and growing through value-accretive M&A. At the heart of its business lies a commitment to leverage artificial intelligence to bring transformative benefits, across a diverse range of industries, that define a safer and more sustainable economic future, and I am confident that Presight will continue to create value for all stakeholders in both the near and medium term.' Thomas Pramotedham, Chief Executive Officer of Presight, commented: 'The past twelve months have been transformational for Presight. From establishing ourselves as a critical AI and digital transformation partner across key state-owned enterprises in the UAE, to supporting governments and large enterprises across four continents in realising their strategic AI ambitions by adopting 'Applied Intelligence' today. 'FY 2024 has been a year of outstanding operational execution, with every metric from orders, revenue, profit and cash exceeding market expectations. Ending the year with an AED 2.99 billion backlog stands us in good stead to drive future growth. 'We made significant additions to our growing portfolio of best-in-class Applied AI products and solutions, including our Presight Enterprise suite, to support large-scale deployment of AI technology. 'We acquired a majority stake in leading AI energy provider, AIQ, and launched ENERGYai as the world's first Agentic AI Energy Platform which, together with the formation of our IntelliGrid joint venture, will enable Presight to play a pivotal role in the global energy transition. 'These results are a testament of our commitment to use technology and AI to solve complex problems for the advancement of humankind and deliver significant value accretion for all stakeholders. 'I remain grateful for the wise counsel and visionary leadership of our Board of Directors, as well as the continued passion and dedication of all our colleagues across the Group. The results today speak for themselves, but this is just the beginning. There is so much more we can and will achieve, creating a perpetual impact globally through the responsible and ethical use of AI.' The 2024 business highlights include: • Renewed existing and negotiated new domestic/international contracts with a value of AED3.6 billion. • Forged strong technology partnerships, including global technology leaders such as Microsoft, Dell and Intel, to further enhance our technology portfolio and accelerate 'Applied Intelligence' AI projects across the region. • Acquired 51% of AIQ, a leading provider of AI solutions in the energy sector. • Through AIQ, launched ENERGYai, a first-of-its-kind Agentic AI platform for the Energy sector. ADNOC has committed to deploy ENERGYai across its entire upstream value chain. • Formed IntelliGrid, a joint venture between Esyasoft and Presight, which signed a 13-year, AED 1.76 billion preliminary agreement with SOCAR, the state-owned national oil and gas company of Azerbaijan, to implement a state-of-the-art Smart Gas Grid Management System across the entire AzeriGas service area in Azerbaijan. • Launched cutting-edge AI and Applied AI products and solutions, including the sector and scale agnostic Presight Enterprise suite and Presight Intelli-Platform underpinning a raft of a scalable, adaptable Smart City solutions. • Launched Presight DataHub, the UAE's first sovereign enterprise data marketplace platform and Presight AI-Startup Accelerator Program. • Strengthened membership of our Board of Directors, bringing unrivalled leadership, guidance and expertise across the AI, Technology, and Energy sectors. • Received the 'UAE AI Data Analytics Innovator of the Year' Award by Dell Technologies. • Maintained the highest standards of corporate governance, manifested in the award of nine ISO certifications. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. 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Trade Arabia
12-02-2025
- Business
- Trade Arabia
Presight delivers record $602m revenue, up 24.3%
Presight AI Holding has reported record revenues of AED2.213 billion ($602.5 million) for 2024, an increase of 24.3% compared to FY 2023 as the company continued to reap the rewards of its comprehensive offering, investments, and growth in international operations. The strong performance reflected in EBITDA as well, which grew 25.2% YoY to AED635.4 million due to a favourable deployment mix in FY 2024, the company said. At its bottom-line, the company reported net profit after tax of AED612.8 million, reflecting an increase of 7.4% YoY in FY 2024, including a maiden year of corporation tax. Presight's top-line performance came on the back of a growing proportion of multi-year contracts, strong new orders, as well as the company's expansion across international markets as it continues to extend its offering to customers globally. On this front, international markets contributed 23.0% of Presight's revenue and booked a 3.5x increase to AED508.2 million in FY 2024. Moreover, Presight's highly liquid, debt-free balance sheet, with a cash and equivalents balance of AED 1.94 billion in FY 2024, provides ample financial flexibility to support operations and headroom to drive future growth, it said. Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of the Board of Directors of Presight, commented: 'Presight's full year results demonstrate strong execution against strategic objectives, namely international expansion, investing in capability and innovation, and growing through value-accretive M&A. At the heart of its business lies a commitment to leverage artificial intelligence to bring transformative benefits, across a diverse range of industries, that define a safer and more sustainable economic future, and I am confident that Presight will continue to create value for all stakeholders in both the near and medium term.' Thomas Pramotedham, Chief Executive Officer of Presight, commented: 'The past twelve months have been transformational for Presight. From establishing ourselves as a critical AI and digital transformation partner across key state-owned enterprises in the UAE, to supporting governments and large enterprises across four continents in realising their strategic AI ambitions by adopting 'Applied Intelligence' today. 'FY 2024 has been a year of outstanding operational execution, with every metric from orders, revenue, profit and cash exceeding market expectations. Ending the year with an AED 2.99 billion backlog stands us in good stead to drive future growth. 'We made significant additions to our growing portfolio of best-in-class Applied AI products and solutions, including our Presight Enterprise suite, to support large-scale deployment of AI technology. 'We acquired a majority stake in leading AI energy provider, AIQ, and launched ENERGYai as the world's first Agentic AI Energy Platform which, together with the formation of our IntelliGrid joint venture, will enable Presight to play a pivotal role in the global energy transition. 'These results are a testament of our commitment to use technology and AI to solve complex problems for the advancement of humankind and deliver significant value accretion for all stakeholders. 'I remain grateful for the wise counsel and visionary leadership of our Board of Directors, as well as the continued passion and dedication of all our colleagues across the Group. The results today speak for themselves, but this is just the beginning. There is so much more we can and will achieve, creating a perpetual impact globally through the responsible and ethical use of AI.' The 2024 business highlights include: • Renewed existing and negotiated new domestic/international contracts with a value of AED3.6 billion. • Forged strong technology partnerships, including global technology leaders such as Microsoft, Dell and Intel, to further enhance our technology portfolio and accelerate 'Applied Intelligence' AI projects across the region. • Acquired 51% of AIQ, a leading provider of AI solutions in the energy sector. • Through AIQ, launched ENERGYai, a first-of-its-kind Agentic AI platform for the Energy sector. ADNOC has committed to deploy ENERGYai across its entire upstream value chain. • Formed IntelliGrid, a joint venture between Esyasoft and Presight, which signed a 13-year, AED 1.76 billion preliminary agreement with SOCAR, the state-owned national oil and gas company of Azerbaijan, to implement a state-of-the-art Smart Gas Grid Management System across the entire AzeriGas service area in Azerbaijan. • Launched cutting-edge AI and Applied AI products and solutions, including the sector and scale agnostic Presight Enterprise suite and Presight Intelli-Platform underpinning a raft of a scalable, adaptable Smart City solutions. • Launched Presight DataHub, the UAE's first sovereign enterprise data marketplace platform and Presight AI-Startup Accelerator Program. • Strengthened membership of our Board of Directors, bringing unrivalled leadership, guidance and expertise across the AI, Technology, and Energy sectors. • Received the 'UAE AI Data Analytics Innovator of the Year' Award by Dell Technologies. • Maintained the highest standards of corporate governance, manifested in the award of nine ISO certifications. -TradeArabia News Service
