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Abu Dhabi, July 25 / The Multipleplay Group, the investment holding company based in Abu Dhabi, announced that it recorded during the second quarter of 2023 a net profit of 400 million dirhams, compared to 127.31 million dirhams in the same period last year.
The group said that its subsidiaries achieved annual growth of 33.6% in the second quarter of 2023 compared to the second quarter of 2022, and this increase does not include realized and unrealized capital gains.
Multipleplay Group’s strong results in the second quarter were supported by the excellent operating performance of its subsidiaries, each of which reported strong and regular revenue for the group.
And compared to the performance and profits of the past half year, excluding the fair value movement, the “Multiplay” group recorded a significant increase of 146.23% from the first half of 2022 to the first half of 2023, as the size of the group’s current public market portfolio amounted to 33.4 billion dirhams, compared to the invested value of 12.3 billion dirhams.
The group added that it is looking forward to many cumulative acquisition opportunities of value worldwide in its various operating sectors and investment arm, while maintaining strong cash flows of 2 billion dirhams, debt-to-equity ratios and debt-to-asset ratio, and access to a financing capacity exceeding 4 billion dirhams.
The group continues to plan and move forward in investing capital through its two distinct arms, “Multiplay” and “Multiplay+”, as the former invests in strategic sectors such as mobility, energy, utility services, media and communication, health and beauty, and “Multiplay+” is a flexible and sector-neutral investment arm that is based on exploiting opportunities and focuses on achieving financial returns through its various assets.
Samia Bouazza, Group CEO and General Manager, said that the financial results report for the second quarter of 2023 highlights the growth of the group’s diversified portfolio of assets, driven by the pursuit of long-term revenues by strengthening strategic investments, as the group recorded profits of 215 million dirhams, excluding changes in fair value, and achieved a net profit of 400 million dirhams, which reflects our interest in acquiring assets that generate regular and growing cash flows.
She added that the group expanded its portfolio in the field of media by acquiring a majority stake of 55% in the leading outdoor advertising company “Media 247”. The group also invested $100 million in the “EIG” company, to enhance profit returns, which constitutes an attractive factor for shareholders.
She said that the group seeks, through its cash portfolio amounting to 2 billion dirhams and more than 4 billion dirhams of financing capabilities, to continue exploring the best feasible economic opportunities inside and outside the country.
