Latest news with #TECOM
ARN News Center
01-08-2025
- Business
- ARN News Center
TECOM Group delivers strong H1 results with AED 737 million profit
TECOM Group has posted strong financial results for the first half of 2025, reporting a 22 per cent jump in net profit year-on-year to AED 737 million. The Group, which operates 10 specialised business districts across Dubai, also posted a 21 per cent rise in revenue, reaching AED 1.4 billion, driven by higher rental rates, strong occupancy and returns from strategic asset acquisitions. Earnings before interest, tax, depreciation and amortisation (EBITDA|) climbed 24 per cent to AED 1.1 billion, with the Group's EBITDA margin improving to 80 per cent, reflecting continued operational efficiency. Funds from operations also saw a 17 per cent boost, reaching AED 984 million, further highlighting strong portfolio performance and revenue quality. In line with its dividend policy, TECOM's Board has approved an interim cash dividend of AED 400 million for the first half of the year. The results reinforce TECOM Group's position as a key player in Dubai's business landscape, supporting vital sectors and strengthening the UAE's role as a global investment hub. TECOM Group reports robust 22% growth in H1 2025 net profit to AED 737 million, driven by strategic expansion and strong performance across business segments. — Dubai Media Office (@DXBMediaOffice) August 1, 2025 H1 2025 Operational Highlights In April, PayPal opened its first regional headquarters in the Middle East and Africa at Dubai Internet City, the pioneering hub uniting global tech industry leaders and talent which today generates 65% of Dubai's technology sector GDP. In May, Pure Ice Cream commenced construction on its AED 80 million production facility at Dubai Industrial City, cementing its vital contribution towards developing the UAE's industrial sector. Dubai Media City supported the launch of Dubai Press Club's Arab Media Outlook – Future Vision report at Arab Media Summit in May. Dubai Design District (d3) marked more than a decade of enabling design excellence at a special celebratory event, during which the district launched the d3 Awards, a prestigious award platform to celebrate industry talent in the region. IMCD, a global leader in specialty chemicals and ingredients, expanded its Middle East presence with new offices and Technical Centres in Dubai Science Park in June. In April, Dubai Knowledge Park and Dubai International Academic City showcased business opportunities at China International Education Exhibition Tour as part of a delegation led by Dubai's Knowledge and Human Development Authority (KHDA), in partnership with Dubai Department of Economy and Tourism (DET) and Dubai Chambers.
Dubai Eye
01-08-2025
- Business
- Dubai Eye
TECOM Group delivers strong H1 results with AED 737 million profit
TECOM Group has posted strong financial results for the first half of 2025, reporting a 22 per cent jump in net profit year-on-year to AED 737 million. The Group, which operates 10 specialised business districts across Dubai, also posted a 21 per cent rise in revenue, reaching AED 1.4 billion, driven by higher rental rates, strong occupancy and returns from strategic asset acquisitions. Earnings before interest, tax, depreciation and amortisation (EBITDA|) climbed 24 per cent to AED 1.1 billion, with the Group's EBITDA margin improving to 80 per cent, reflecting continued operational efficiency. Funds from operations also saw a 17 per cent boost, reaching AED 984 million, further highlighting strong portfolio performance and revenue quality. In line with its dividend policy, TECOM's Board has approved an interim cash dividend of AED 400 million for the first half of the year. The results reinforce TECOM Group's position as a key player in Dubai's business landscape, supporting vital sectors and strengthening the UAE's role as a global investment hub. TECOM Group reports robust 22% growth in H1 2025 net profit to AED 737 million, driven by strategic expansion and strong performance across business segments. — Dubai Media Office (@DXBMediaOffice) August 1, 2025 H1 2025 Operational Highlights In April, PayPal opened its first regional headquarters in the Middle East and Africa at Dubai Internet City, the pioneering hub uniting global tech industry leaders and talent which today generates 65% of Dubai's technology sector GDP. In May, Pure Ice Cream commenced construction on its AED 80 million production facility at Dubai Industrial City, cementing its vital contribution towards developing the UAE's industrial sector. Dubai Media City supported the launch of Dubai Press Club's Arab Media Outlook – Future Vision report at Arab Media Summit in May. Dubai Design District (d3) marked more than a decade of enabling design excellence at a special celebratory event, during which the district launched the d3 Awards, a prestigious award platform to celebrate industry talent in the region. IMCD, a global leader in specialty chemicals and ingredients, expanded its Middle East presence with new offices and Technical Centres in Dubai Science Park in June. In April, Dubai Knowledge Park and Dubai International Academic City showcased business opportunities at China International Education Exhibition Tour as part of a delegation led by Dubai's Knowledge and Human Development Authority (KHDA), in partnership with Dubai Department of Economy and Tourism (DET) and Dubai Chambers.
Gulf Business
01-08-2025
- Business
- Gulf Business
TECOM Group reports 22% profit growth in H1 2025, declares Dhs400m dividend
Image: TECOM TECOM Group, a leading developer and operator of specialised business districts in Dubai, has announced strong financial results for the second quarter (Q2) and first half (H1) of 2025, ending 30 June. The Group recorded a 22% year-on-year (YoY) increase in net profit, reaching Dhs737m for H1, while revenue grew by 21 per cent YoY to Dhs1.4bn during the same period. The robust performance reinforces TECOM Group's position as a preferred partner for global and regional businesses operating within its 10 specialised business districts, which span six key economic sectors. The results also underscore Dubai and the UAE's continuing appeal as hubs for foreign direct investment. Malek Al Malek, chairman of TECOM Group, said: 'The UAE and Dubai are continuing their journey of sustainable development, achieving record growth and exceptional accomplishments across all economic sectors. Their success is positively reflected in TECOM Group's H1 2025 performance, demonstrating our fundamental strengths and agility in addressing growing demand from the commercial and industrial market, while focusing on operational efficiency to create long-term value for our shareholders. The Board has approved an interim cash dividend of Dhs400m for H1 2025, aligned with our Dividend Policy.' Abdulla Belhoul, chief executive officer of TECOM Group, added: 'Our financial and operational growth in H1 2025 reflects the success of TECOM Group's roadmap for long-term growth through our recent strategic investments and attracting new customers. The Group's robust performance is a step forward in our journey to enable a sustainable future through our ecosystems, solidifying the UAE's and Dubai's appeal as a global destination for investment and the ease of doing business.' The entire financial report can be found
New Indian Express
22-07-2025
- Business
- New Indian Express
VS' stand against Dubai company proved crucial in SmartCity growth
KOCHI: Former Chief Minister V S Achuthanandan's stand— particularly his opposition to giving incentives to Dubai-based TECOM Investments — played a crucial role in the conceptual stages of the SmartCity Kochi project, then worth Rs 1,500 crore. Eventually, TECOM went on to hold 84% stake in the venture. As the leader of Opposition in 2005, VS built a strong campaign against the then Chief Minister Oommen Chandy's proposal to set up a multi-crore IT park on nearly 250 acres at Kakkanad, highlighting several clauses detrimental to the state's interests. A major point of contention was TECOM's demand for freehold rights over 12% of the land meant for the project. When the LDF government headed by VS came to power in 2006, it was determined to protect public assets and held hard bargains with TECOM. 'The hard line adopted by VS, first as leader of Opposition and then as chief minister, has played a crucial role in retaining the IT field in the public sector and paving the way for its substantial growth, thus proving it a successful model,' K Chandran Pillai, former MP and national secretary of CITU, told TNIE. 'Back then, VS had to bear much criticism for taking an anti-development stand.' In 2006, VS negotiated with the same company and changed the initial terms. 'VS said we will give land on lease but TECOM wanted it as a freeholding,' said Joseph C Mathew, who then served as the IT advisor to the CM. 'The reason was that TECOM, in the case of a lease, would only be able to sublease the land. They claimed it would turn away big names like Microsoft and Google. So, the state government said the land parcels earmarked will be given on freehold rights but will be converted into an SEZ later. That meant TECOM won't have alienable rights. In the last year of the VS government, all misunderstandings were cleared.' Pillai pointed out that VS put forward a new set of conditions acceptable to TECOM as well. 'We could foresee the huge potential of Kochi in the development of IT sector. We were confident of leveraging the IT sector even if the agreement reached by Oommen Chandy was discarded. Kochi has now turned into one of the best IT hubs after the implementation of Phase 1 and Phase 2,' he said. Citing the proposal to develop Kochi as a mega AI hub, with the state government ordering the acquisition of nearly 300 acres for Phase 3 development, Pillai said: 'All these have become possible because of VS' long-term vision and his hard stand against the wrong set of initial agreements 20 years ago.'
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
