The company’s mining revenue surged to $107 million in 2024, up from $32 million in 2023 and $5.4 million in 2022
Equities
delivery services
Talabat over-delivers on guidance as net income grows 64% to $346mn
Revenue and Adjusted EBITDA growth exceeded guidance; Gross merchandising value up 23% to $7.4 billion; Net income up 64% to $346 million
Abu Dhabi National Energy Company
TAQA Group reports $15bn revenue and $1.93bn net income for 2024
EBITDA, excluding $2.94bn to acquire 5% stake in ADNOC Gas, was $5.83bn; CapEx up 63.8% as work progresses in Mirfa and Shuweihat projects
ADNOC
ADNOC Distribution EBITDA crosses the billion-dollar mark for the first time
Increasing fuel volumes, non-fuel retail growth, and healthy contributions from international operations drive the growth
Abu Dhabi
Alpha Dhabi FY2024 revenue soars 40% to a record $17.26bn
Group’s net profit at $3.68 billion; Net operating profit at $2.72 billion; Industrial ($7.16 billion) and Real Estate ($4.93 billion) key contributors
Dubai
Dubai Islamic Bank total income grows 15.9% to $6.36bn in 2024
Pre-tax profit up 27% to $2.45 billion; Customer deposits up almost 12% to $67.8 billion; NPF ratio improves 140bps to $2.48 billion
ADNOC
ADNOC L&S reports 22% jump in 2024 net profit to $756mn, revenue surges 29%
The company said the strong financial returns in 2024 were due to robust performance across all business segments
BNPL
Tabby hits $3.3 billion valuation as it eyes IPO within 18 months after $160M raise
Buy now, pay later provider prepares for listing as transaction volumes hit $10 billion annually
Spinneys
Spinneys revenue up 12.3% in FY2024 to record $870mn
Profit before tax grows 26.2% to $87.95 million; Planning to open 10-12 new stores in 2025; Online sales grow 14.1%
Abu Dhabi
NMDC Group revenue rises 57% in FY 2024 to $7.16bn
Net profit after tax climbs 44% to $840 million for the full year and to $249.4 million in Q4, up 43%
Americana
Americana Restaurants shows resilience despite tough conditions in 2024
Healthy Q4 numbers – 14.1% growth in revenue and 26.3% in net income – points to a continued recovery and positive outlook
Abu Dhabi
Abu Dhabi-based IHC’s revenue surges 54.4% to $25.8 billion in 2024
Preliminary report shows total assets up 52% to $109.4 billion; Net profit after tax at $6.94 billion; EPS at $1.93
Abu Dhabi
Dubai-based Deyaar reports 14.68% jump in PBT to $137.6mn
Revenue for FY 2024 reaches $416 million, up 20.6%; Earnings per share increase 7.55% to 10.83 fils
Abu Dhabi
Lulu Retail revenue for 2024 grows 4.7% to $7.6bn
Net Profit increases 12.6% YoY to $216.3 million; Private Label revenue and e-commerce sales up 29.6% and 70% respectively
EY
MENA IPOs raised $12.6bn last year, more growth expected in 2025
IPOs in the MENA region were dominated by UAE and Saudi and further growth expected in 2025
Abu Dhabi
Aldar Development’s 2024 revenue jumps 90% and net profit surges 47%
Group revenue at $6.26 billion, up 62% YoY; Gross Profit at $2.18 billion, up 44%; EBITDA at $2.1 billion; Revenue backlog reach $14.87 billion
poultry
Saudi poultry firm Entaj sets IPO price range at SAR 46-50 per share
The company’s shares are to be listed in the Parallel Market of Tadawul