Latest news with #TECOM
Yahoo
16-05-2025
- Business
- Yahoo
IMCD to acquire TECOM Ingredients to strengthen its offering in the food & nutrition market in Spain
Rotterdam, The Netherlands (16 May 2025) – IMCD N.V. ("IMCD" or "Company"), a global leading partner for the distribution and formulation of speciality chemicals and ingredients, has signed an agreement to acquire 100% of the shares in TECOM Ingredients S.A. ('TECOM'). Founded in 1996 and headquartered in Molins de Rei, near Barcelona, Spain, TECOM is a recognised distributor of ingredients and additives to the food industry. The company is a trusted partner for customers active in the food and nutrition market in Iberia, developing innovative, high-quality solutions across a wide spectrum of applications, including savoury, bakery and pastry, dairy and plant-based beverages, confectionery, meat and ready meals, as well as health and nutrition. With a team of 16 employees, TECOM reported annual revenues of ca. EUR 18 million in the financial year 2024. 'This acquisition enhances our presence in Iberia and expands our portfolio with ingredients that are highly complementary to our current offering,' said José Alcover, Managing Director of IMCD Iberia & Maghreb. 'We're thrilled to welcome a talented team with deep expertise in market-specific food applications.' Sixto Yañez, Commercial Director and Co-Founder of TECOM, commented: 'Joining IMCD marks an exciting new phase in our journey. We are bringing together two companies that share a strong culture of innovation, service, and long-term partnerships. This step opens up new avenues for growth and will allow us to offer even greater value to our customers.' The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2025. - xxx-IMCD, based in Rotterdam, The Netherlands, is a leading global partner for the distribution and formulation of speciality chemicals and ingredients. IMCD is an expert solutions provider and adds sustainable value to the supply chain. Every day professionals focus on providing the best service through commercial and operational excellence. The company is mindful of the role they play in creating a better planet for all and formulates with consciousness and executes with care, to address business challenges of tomorrow, in partnership and transparency. In 2024, with over 5,100 employees, IMCD realised revenues of EUR 4,728 million. IMCD N.V.'s shares are traded at Euronext Amsterdam (symbol: IMCD) and included in the Dutch ESG AEX index, as one of 25 companies within the AEX and AMX indices demonstrating best ESG practices. For further information, please visit Media contact Muriel Werlé Corporate Communications Director+31 10 290 86 84 mediarelations@ Investor relations contact Tosca Holtland Head of Investor Relations+31 10 290 86 53ir@ Attachment Press release_IMCD to acquire TECOM Ingredients_20250516Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hi Dubai
08-05-2025
- Business
- Hi Dubai
Dubai's Office Market Enters New Growth Phase Amid Surging Demand for Prime Spaces: Savills Report
Dubai's office market continues to demonstrate strong fundamentals, with rising demand, increased occupier activity, and a dynamic shift in market behaviour. According to Savills' latest Dubai Office Market in Minutes – Q1 2025, the emirate has entered a new phase of growth, characterised by elevated rental price levels, reduced vacancy, and increasing competition for prime commercial space. Dubai saw average year-on-year office rental price growth of 45% across 22 sub-markets in Q1 2025. Key business districts such as DIFC, Business Bay, Downtown Dubai, and TECOM are performing particularly well, with occupancy rates in DIFC reaching 98%. As a result, well-located, Grade A spaces are increasingly sought after by both regional and international occupiers. In parallel, Dubai recorded a 4.9% rise in net effective occupier costs in Q1 2025, as outlined in Savills' global cost benchmarking report. This metric captures the total cost to occupiers, including base rent, fit-out expenses, and other related costs, offering a more comprehensive view of overall leasing expenditure. The increase places Dubai among the most active and competitive prime office markets globally. The city now ranks 8th globally for total prime office occupancy costs, averaging USD 148.90 per sq ft per annum, a reflection of the emirate's continued appeal as a gateway hub for the Middle East, Africa, and South Asia. This growth reflects confidence in Dubai's long-term positioning. Companies are looking at Dubai not just as a regional base, but as a global node for innovation, finance, and enterprise. The rise in rents and costs mirrors the demand for quality and the limited availability of premium space. said Toby Hall, Head of Commercial Agency at Savills Middle East. Demand continues to be driven by core sectors such as financial services, consulting, and technology & media, which accounted for more than half of Savills' transactions in Q1. Smaller, agile companies are also increasingly active, particularly in sub-markets offering value and accessibility, including Dubai South and Expo City. The Dubai Chamber of Commerce welcomed 70,500 new companies in 2024, marking a 4.6% increase year-on-year and further signaling growing confidence in the business environment. As new entrants look for flexible, well-connected, and high-specification workplaces, many are turning to serviced office operators, who continue to expand into community-centric and mixed-use locations. While the supply of Grade A stock remains tight in established districts, landlords are responding proactively, offering more tailored leasing terms, enhanced amenities, and refurbishment strategies to meet evolving occupier expectations. Some strata landlords in Business Bay, for instance, are now quoting rents comparable to DIFC, underscoring the broader uplift in perceived value across sub-markets. Lease renewals remain a preferred option for many businesses, particularly outside DIFC, where RERA rental protections provide added stability in a rising cost environment. Occupiers are also reviewing how space is used, prioritising functional layouts, optimisation, and long-term adaptability over expansive floorplates or elaborate fit-outs. Looking ahead, new office developments are in the pipeline, although most are already seeing significant pre-commitment levels. This indicates continued market confidence and suggests that competition for high-quality space will remain a key theme through 2025. Dubai's office market is evolving, not tightening. The data shows growing maturity, where rental increases reflect sustained interest, strong business fundamentals, and a shifting view of Dubai as a long-term destination for global enterprise. added Hall. Read the complete findings of the reports here: Dubai Office Market Q1 2025 and Global Occupier Markets: Prime Office Costs – Q1 2025 News Source: Savills Middle East
Hi Dubai
05-05-2025
- Business
- Hi Dubai
TECOM Group Records 21% Revenue Surge in Q1 2025 as Profit Climbs to AED361 Million
TECOM Group reported a robust start to 2025, with first-quarter revenues climbing 21 percent year-on-year to AED680 million and net profit rising 23 percent to AED361 million, driven by strong operational performance across its portfolio. The company's EBITDA grew by 23 percent to AED540 million, with the EBITDA margin improving to 79 percent. The growth reflects increased demand across its commercial, industrial, and land leasing segments, bolstered by a six percent rise in its customer base, which now exceeds 12,000. CEO Abdulla Belhoul credited the performance to the strength of TECOM's diverse asset base and its alignment with Dubai's push to grow its knowledge-based economy. 'We continue to attract global companies and world-class talent across six strategic sectors,' he said. The quarter also saw significant developments across TECOM's districts. Epson launched an Innovation Centre at Dubai Production City, and Fabtech Engineering at Dubai Industrial City signed a strategic agreement with Groupe M to boost innovation in nuclear and sustainable energy. Dubai Internet City, a key TECOM asset, was found to contribute 65 percent of the emirate's tech sector GDP, according to a study conducted with Accenture. Dubai Science Park welcomed biopharma leader MSD and hosted the region's first Longevity Science Semester Symposium. Dubai Design District cemented its global fashion status by showcasing the Autumn/Winter 2025–26 edition of Dubai Fashion Week. Meanwhile, the third edition of The Good Store initiative brought together over 137,000 professionals for charitable giving during Ramadan and Eid. Belhoul noted that TECOM's performance reinforces its role in shaping Dubai's future economy while delivering long-term value to shareholders. News Source: Emirates News Agency
Arabian Post
03-05-2025
- Business
- Arabian Post
TECOM Group Reports Robust Q1 2025 Financial Performance Amid Strategic Expansion
TECOM Group PJSC has reported a 21% year-on-year increase in revenue, reaching AED 680 million for the first quarter of 2025. Net profit rose by 23% to AED 361 million, reflecting strong operational performance and strategic investments across its diversified asset portfolio. The company's EBITDA grew by 23% year-on-year to AED 540 million, with the EBITDA margin improving to 79%. These figures underscore the group's commitment to enhancing Dubai's knowledge economy by attracting global companies and talent across six strategic sectors. Abdulla Belhoul, Chief Executive Officer of TECOM Group, attributed the strong start to 2025 to the exceptional performance of the group's diverse asset portfolio. He emphasized the pivotal role TECOM plays in championing Dubai's and the UAE's knowledge economy. The group's strategic investments in 2024, totaling AED 2.7 billion, have expanded its portfolio significantly. Notable developments include the acquisition of Office Park in Dubai Internet City for AED 720 million and the launch of Innovation Hub Phase 3 within Dubai Internet City, a AED 340 million development. These investments align with TECOM's roadmap for sustainable growth through targeted acquisitions and the development of high-quality commercial real estate. Operationally, TECOM Group has maintained high occupancy and retention rates across its portfolio. As of the end of 2024, commercial and industrial occupancy stood at 94%, with a retention rate of 92%. The number of customers increased by 8% year-on-year, reaching over 11,900. The fair value of the group's investment property portfolio increased by 11% on a like-for-like basis and by 22% inclusive of new acquisitions, reaching AED 28 billion in 2024. This growth reflects the enhanced fundamentals of Dubai's real estate market and increased occupancy and retention across TECOM's portfolio. TECOM Group's commitment to sustainability is evident in its environmental, social, and governance initiatives. In 2024, 49% of the group's commercial portfolio was LEED-certified, with solar generation increasing by 15.5% to 14.2 GWh. Additionally, 36.3% of all waste was sent to waste-to-energy plants. The group's in5 incubator supported 410 start-ups, with 30% owned by women. The Board of Directors has proposed a dividend payment of AED 400 million for the second half of 2024, subject to shareholder approval at the upcoming Annual General Meeting scheduled for 10 March 2025. The interim cash dividend for the second half of 2025 is expected to increase by 10%.
ARN News Center
02-05-2025
- Business
- ARN News Center
TECOM Group sees solid start to 2025
TECOM Group has kicked off 2025 with strong results, reporting a 21 per cent jump in revenue to AED 680 million for the first quarter. Net profit also rose by 23 per cent to AED 361 million compared to the same period last year. The group, which is a leading developer and operator of specialised business districts across Dubai, credits the growth to its diverse asset portfolio and Dubai's rising status as a global hub for business and investment. CEO Abdulla Belhoul said the strong performance highlights TECOM's key role in supporting Dubai's knowledge economy and attracting top global talent. "Our impressive Q1 2025 performance reinforces TECOM Group's leading role in curating Dubai's most dynamic and pro-growth business districts as well as our strategic roadmap for sustainable growth," he added. Q1 2025 financial highlights Strong performance across all business segments and the Group's strategic roadmap for expansion and sustainable growth led to revenues of AED 680 million, representing year-on-year (YoY) growth of 21%. Reflecting revenue growth and improved operational performance across all areas of the business, EBITDA (earnings before interest, taxes depreciation, and amortisation) increased by 23% YoY to AED 540 million, while EBITDA margin grew to 79%. Net profit increased by 23% YoY to AED 361 million, while – led by improved collections and the strong performance of income-generating assets – funds from operations (FFO) noted 16% YoY growth to AED 480 million. TECOM Group reports a 21% year-on-year increase in revenue, reaching AED 680 million in the first quarter of 2025. Net profit also rises by 23% YoY to AED 361 million during the same period. The Group's exceptional performance highlights the strength of its diverse asset… — Dubai Media Office (@DXBMediaOffice) May 2, 2025
