Ethmar International Holding (EIH) has declared the distribution of AED 100 million in dividends to its investors, based on the interim results for the first half of 2023 (H1), ending on June 30, 2023.
This distribution highlights EIH’s growing prominence in the UAE’s investment landscape, underscored by its exceptional financial performance and remarkable growth.
During H1 2023, EIH achieved a net profit of AED 445 million, a significant increase compared to AED 24 million in the same period of 2022.
Ali El Gebely, Managing Director and Group CEO of EIH, praised the achievements, attributing them to the strategic guidance of EIH’s board of directors and the relentless dedication of the team. El Gebely emphasized the company’s unwavering commitment to prioritizing investor interests and exploring new and rewarding investment opportunities.
EIH’s growth trajectory has been fueled by the substantial expansion of its total assets throughout the year, coupled with its proactive acquisition and diversification strategy. The company’s assets surged from AED 77.7 million in H1 2022 to AED 2.23 billion by the close of H1 2023. Moreover, total equity witnessed a remarkable surge, reaching approximately AED 1.35 billion, in stark contrast to AED 66.3 million during the same period in the previous year.
El Gebely highlighted the success of EIH’s strategic approach across its business sectors and investment portfolios, aligning with the UAE’s and Abu Dhabi’s ambitious economic goals. He emphasized the company’s commitment to expansion, governance enhancement, global best practices, and innovation-driven growth to set new industry benchmarks.
The announcement of the dividend distribution further solidifies EIH’s status as a leading player in the investment landscape, characterized by its consistent financial performance and commitment to delivering value to investors.