Latest news with #WahaInvestment
Zawya
16-05-2025
- Business
- Zawya
Waha Capital delivers strong first quarter performance with net profit attributable to shareholders of AED81mln
Q1 2025 Key Highlights Waha Investment recorded Q1 net profit of AED 91 million, driven by recurring management and performance fees from its flagship emerging markets equity and fixed income hedge funds. Private Investments business generated Q1 net profit of AED 16 million, following a partial exit from one of its investments. Waha Land continued to deliver stable income, supported by increased leasing activity from Stage 2B, resulting in net profit of AED 11 million. Waha Capital was ranked among Forbes Middle East's Top 40 Asset Managers in 2025 for the fourth consecutive year. (AED million) Q1 2025 Q1 2024 % Change (YoY) Total Income 330 465 (29%) Expenditures (96) (103) 7% Finance cost (77) (80) 4% Net Profit/Loss 157 281 (44%) Net Profit Attributable to Shareholders 81 166 (51%) Return On Investments (1) 11.5% Average ROE (3) 7.8% Average ROA (4) 3.9% Total Assets Under Management (2) AED 12.3bn 1 Based on prior four quarters' investment return. 2 As of 31 March 2025, including assets managed on behalf of third parties across all businesses. 3 Based on prior four quarters' contribution to Waha Capital shareholders. 4 Based on prior four quarters' contribution to all shareholders, including minorities. Waha Capital delivered robust growth in the first quarter of 2025, posting net profit of AED 81 million and maintaining a healthy return on average equity of 7.8%. All three strategic pillars - Waha Investment, Private Investments, and Waha Land - contributed to this performance, reaffirming the strength of our diversified business model. Waha Investment and its funds continued to attract strong global institutional interest, with third-party assets under management rising to AED 7.2 billion from AED 6.0 billion a year earlier. This growth drove Waha Capital's total assets under management to AED 12.3 billion by the end of Q1 2025 - an 11% increase from AED 11.1 billion a year ago - underscoring investor confidence in our track record and approach. Private Investments reinforced its role as a reliable engine of diversification, with value realised through the targeted monetisation of portfolio assets. In line with our commitment to back high-impact, value-driven investments, our healthcare asset, Orchid Fertility, announced plans to expand into a new, larger facility, supporting its trajectory as one of Dubai's fastest-growing clinics. Meanwhile, Waha Land continued to maximise the potential of our real estate portfolio, with leasing levels nearing full occupancy in Stages 1 and 2A of ALMARKAZ, and 76% leasing achieved in Stage 2B. Looking ahead, we will remain proactive in navigating an uncertain macroeconomic environment with discipline and resilience. Waha Capital's diversified platform, proven track record, commitment to stakeholders, and strong investment approach, positions us well to continue delivering sustainable long-term value for our shareholders. Abu Dhabi – Waha Capital PJSC, an Abu Dhabi-listed investment management company (ADX: WAHA), reported net profit attributable to shareholders of AED 81 million, translating to a return on average equity of 7.8%. This was supported by gains in the company's public markets business, value realisation from the Private Investments portfolio, and steady rental income from Waha Land. During the first quarter, the company's total income stood at AED 330 million, demonstrating an ability to deliver consistent earnings across market cycles through the balanced contribution of all three business pillars. The company's total assets under management (AUM) stood at AED 12.3 billion as of 31 March 2025, an increase of 2.9% from AED 11.9 billion at the end of 2024, supported by strong inflows of third-party capital into Waha Investment's funds. In recognition of Waha Capital's multi-year track record of achievement, the company was ranked among Forbes Middle East's Top 40 Asset Managers in 2025 for the fourth consecutive year. Meanwhile, Waha Capital continued to activate corporate social responsibility initiatives aligned with the United Nations Sustainable Development Goals, particularly SDG 1 (No Poverty) and SDG 2 (Zero Hunger). In collaboration with the Authority of Social Contribution - Ma'an, Waha Capital supported two impactful Ramadan initiatives aimed at helping underprivileged communities in Abu Dhabi and Al Ain. The Food ATM initiative provided subsidized Iftar meals for blue-collar and low-income workers, while the Nourishment for Goodness initiative supported low-income families through food basket distributions and the renovation of homes to improve living conditions. Waha Investment Highlights Waha Investment, the wholly owned asset management subsidiary of Waha Capital, recorded net profit of AED 91 million in the first quarter of 2025. This was supported by recurring fee income, as third-party AUM increased to AED 7.2 billion as of 31 March 2025 from AED 6.0 billion a year earlier. Today, third-party AUM is diversified across a broad base of regional and global clients, including sovereign wealth funds, pension funds, insurance companies, private banks, family offices, and high net worth individuals. The flagship Waha Emerging Markets Credit Fund, which pursues diverse long-short strategies in emerging markets fixed income, has now recorded a cumulative net return of 270.7% since its inception in 2012, in comparison to the 66.4% return of its benchmark, the JPMorgan EMBI Global Diversified Index. The Waha MENA Equity Fund has produced a cumulative net return of 383.3% since its inception in 2014, significantly outperforming its benchmark S&P Pan Arab Composite Index, which posted a return of 85.8% in the same period. Meanwhile, the Waha Islamic Income Fund, which is focused on global sukuk and Shari'ah-compliant equities, has recorded a cumulative net return of 29.0% since its inception in 2020, compared to 6.0% for its reference, the Dow Jones Sukuk Index. Private Investments Highlights The Private Investments business, which follows a flexible, multi-asset strategy across sectors and geographies, delivered net profit of AED 16 million in Q1 2025. This was primarily driven by the successful partial strategic exit from one of its investments. While the broader portfolio was affected by continued mark-to-market volatility across asset classes and regions, the underlying assets remain well-positioned to create value over the investment cycle. Waha Health, Waha Capital's wholly owned healthcare platform, reached a key milestone with the announced expansion of Orchid Fertility, one of Dubai's fastest-growing IVF clinics. The new, purpose-built facility, set to officially open on 21 May, reflects rising patient demand and the clinic's growing team of medical specialists. With a 71% success rate, well above the international average, Orchid embodies Waha Capital's strategy of investing in high-growth, high-impact sectors while supporting the UAE's ambition to develop a world-class healthcare ecosystem. As of 31 March 2025, the Private Investments team managed AED 628 million in assets and remains focused on disciplined capital deployment, opportunistic exits, and maximizing shareholder value through selective new investments and active portfolio management. Waha Land Highlights Waha Land, a wholly owned subsidiary of Waha Capital, reported net profit of AED 11 million in Q1 2025, representing 10% growth versus the same period last year. The company's flagship industrial development, ALMARKAZ, continues to benefit from strong leasing momentum and a diversified, high-quality tenant base, with occupiers from sectors including oil & gas, manufacturing, and logistics. Stages 1 and 2A are nearly at full occupancy, with almost 100% leasing across a combined 180,400 m² of space. Stage 2B, completed in Q1 2024, introduced an additional 75,600 m² of high-specification industrial units and has already reached 76% occupancy. Waha Land remains focused on unlocking further value from the ALMARKAZ platform, including evaluating potential monetization of income-generating assets. This strategy is aligned with rising market demand for logistics and light industrial facilities, supported by Abu Dhabi's economic diversification and the UAE's role as a growing hub for regional trade. About Waha Capital Waha Capital is an Abu Dhabi-listed investment management company that leverages its emerging markets expertise, business networks and research capabilities to deliver attractive returns to shareholders and investors in its funds. Founded in 1997, Waha Capital is one of the Emirate's leading private sector investment houses, providing a world-class platform for investment and growth. The company has a long-established track record of investing in public and private markets, deploying proprietary capital in alignment with third-party investors. The Public Markets business (operated by Waha Investment PrJSC, a wholly owned subsidiary) offers sophisticated investors actively managed emerging markets credit and equities funds, via a disciplined approach to investment and implementing distinctive strategies to deliver consistent market-leading returns. The Private Investments business pursues a multi-asset investment approach focused on direct investments, with the flexibility to deploy capital across diverse sectors and geographies. The business leverages extensive international business networks to source deals and form co-investment partnerships. The Waha Land business develops and leases industrial and logistics facilities at ALMARKAZ in Abu Dhabi's Al Dhafra region, strategically leveraging the UAE's expanding industrial infrastructure, to grow its institutional-grade assets and contribute to portfolio diversification and long-term value creation. Counting Mubadala Investment Company as an anchor shareholder, Waha Capital is at the forefront of Abu Dhabi's increasingly dynamic and entrepreneurial ecosystem, creating long-term value for shareholders, fund investors, employees, and communities.
Al Bawaba
16-02-2025
- Business
- Al Bawaba
Waha Capital Delivers Strong FY 2024 Net Profit of AED 381 Million, driven by Third-Party Capital Growth and Portfolio Value Creation
Waha Capital PJSC, an Abu Dhabi-listed investment management company (ADX: WAHA), achieved FY2024 net profit of AED 381 million, underpinned by increased fee income and gains on portfolio assets. The company delivered total income of AED 1,176 million in 2024, compared to AED 1,222 million in 2023, and net profit attributable to shareholders of AED 381 million, representing a return on average equity of 10.0%. In the fourth quarter, Waha Capital recorded net profit of AED 99 million. As of 31 December 2024, Waha Capital's total AUM stood at AED 11.9 billion, marking a 13% increase from AED 10.5 billion in 2023. This growth was driven by strong inflows from third-party mandates, with total third-party assets reaching AED 6.9 billion by the end of the year, accounting for almost 58% of total AUM, reflecting Waha Capital's ability to attract new capital from global institutional investors. Supported by four regional banks, Waha Capital refinanced its revolving credit facility in 2024. The new 3-year US$ 400 million facility, with enhanced terms, is extendable to US$ 500 million and comes with up to two years of maturity extension. This refinancing strengthens Waha Capital's flexibility, improving its ability to capture growth opportunities while effectively managing its balance sheet. Throughout the year, the company received recognition for its long-term track record of success. At the WealthBriefing MENA Awards, Waha Capital was distinguished for its 'Private Markets Programme and Private Equity Offering', while the Waha EM Credit Fund was named 'Best Emerging Market Long/Short Credit Fund' at the Wealth & Finance Fund Awards. Giving back is at the heart of the company's ethos. Corporate Social Responsibility (CSR) initiatives in 2024 included an AED 1.5 million donation to the Emirates Red Crescent's 'Tarahum for Gaza' and 'UAE Stands with Lebanon' campaigns. As a result of Waha Capital's resilient financial performance in 2024, the company's board has recommended a cash dividend of 10 fils per share. The recommendation remains subject to regulatory and shareholder approvals at the Company's Annual General Meeting. Waha Investment Highlights Waha Capital's public markets business, operated by its wholly owned asset management subsidiary Waha Investment and offering hedge funds with active long-short strategies in emerging markets credit and equities, produced net profit of AED 379 million in 2024. During the year, Waha Investment's total third-party assets under management grew 25% to AED 6.9 billion, up from AED 5.5 billion the previous year, driven by strong inflows from a diverse base of international investors. Waha Investment's funds continue to build on their multi-year track record of success. The Waha Emerging Markets Credit Fund, which employs long-short strategies in emerging markets fixed income, delivered a net return of 18.4% in 2024, almost triple the reference JPMorgan EMBI Global Diversified Index's 6.5% return. Since its inception in 2012, the Waha Emerging Markets Credit Fund has achieved a cumulative return of 260.8%, compared to 62.7% for the reference index. The Waha MENA Equity Fund has produced a cumulative net return of 379.7% since its inception in 2014, significantly outperforming its benchmark, which posted a return of 80.9% in the same period. Meanwhile, the Waha Islamic Income Fund, which focuses on global sukuk and Shari'ah-compliant equities, posted a total return of 6.0% in 2024, compared to a 3.4% increase for its reference, the Dow Jones Sukuk Index. Since its launch in 2020, the Waha Islamic Income Fund has recorded a cumulative return of 27.1%, outperforming the reference index's 3.4% return. Private Investments Highlights The Private Investments business, which pursues a growth-focused multi-asset investment approach with the flexibility to deploy capital across diverse sectors and geographies, recorded net profit of AED 116 million in 2024, compared to a loss of AED 50 million in 2023. This turnaround was driven by mark-to-market gains across several portfolio assets, reflecting the success of Waha Capital's long-term investment strategy. In 2024, the business monetized AED 294 million from mature assets, reinforcing the strength of its strategy and positioning it well for redeploying capital into new opportunities. As of 31 December 2024, Private Investments managed AED 648 million in assets, with the team continuously assessing high-growth opportunities and focusing on unlocking value from mature investments. Waha Land Highlights Waha Land, a wholly-owned subsidiary of Waha Capital that owns and operates ALMARKAZ, a light industrial real estate development in Abu Dhabi, recorded full-year net profit of AED 46 million versus AED 44 million in the previous year. This increase was driven by recurring rental income from Stage 1 & 2 A and new rental income from Stage 2 B. Stages 1 and 2A of ALMARKAZ are nearly at full capacity, with a 98% occupancy rate across 182,500 square meters of versatile industrial and logistics units. Stage 2B of the project was completed in Q1 2024, and due to strong demand, occupancy reached approximately 50% of the completed 76,000 square meters by the end of the year.
