Abu Dhabi – Mubasher: The net profits of Presight AI Holding stood at AED 570.60 million in 2023, higher by 5.10% year-on-year (YoY) than AED 542.98 million.
The revenues increased by 14.70% to AED 1.78 billion as of 31 December 2023 from AED 1.55 billion in 2022, according to the financial results.
Basic and diluted earnings per share (EPS) plummeted to AED 0.12 from AED 232 a year earlier.
Total assets reached AED 4.07 billion last year, versus AED 1.40 billion as of 31 December 2022.
Financial Statements for Q4-23
In the fourth quarter (Q4) of 2023, the revenues jumped by 23.30% YoY to AED 713.50 million, while the net profits edged up by 0.40% YoY to AED 300.60 million.
Thomas Pramotedham, CEO of Presight, commented: “The 2023 numbers are backed by an additional AED 1.56 billion of multi-year revenue contracts which will support strong future revenue and cash flow.”
“Internationally, Presight expanded its geographical reach and presence through strategic partnerships and joint ventures with our partners in Central Asia, Southeast Asia, and the US,” Pramotedham added.
The CEO underlined: “These partnerships are expected to be instrumental in driving international growth in 2024 and beyond.”
“We can see that Generative AI (GAI), within the framework of enterprise AI, offers further growth opportunities, and is a key focus of our innovation and developmental efforts,” he stated. “Having completed early beta releases in 2023, we now look forward to launching a suite of GAI solutions in 2024.”
In the first nine months (9M) of 2023, Presight’s net profits attributable to the owners increased to AED 269.47 million from AED 137.84 million in 9M-22.
