Dubai – Mubasher: Amanat Holdings posted net profits attributable to the shareholders valued at AED 81.12 million in the first nine months (9M) of 2023, versus AED 56.22 million in 9M-22.
The firm generated revenues amounting to AED 495.03 million in 9M-23, an annual leap of 44% from AED 344.28 million, according to the income statements.
Basic and diluted earnings per share (EPS) went up to AED 0.03 in January-September 2023 from AED 0.02 a year earlier.
Total assets hit AED 3.91 billion in 9M-23, higher than AED 3.63 billion as of 31 December 2022.
Financial Results for Q3-23
In the third quarter (Q3) of 2023, the DFM-listed company incurred net losses attributable to the owners standing at AED 8.11 million, down year-on-year (YoY) from AED 10.42 million.
Revenues hiked to AED 125.62 million in Q3-23 from AED 87.17 million in Q3-22, while the basic and diluted loss per share retreated to AED 0.003 from AED 0.004.
Hamad Alshamsi, Amanat’s Chairman, said: “We have successfully exited our minority investments and acquired high-quality assets with strong growth potential in long-term care and special education and care needs, enabling the creation of two market-leading platforms with robust fundamentals and a high monetization potential.”
“We have an active deployment pipeline focused on K-12 opportunities in the UAE and KSA and continue to explore options to realise significant shareholder value across the portfolio, including through potential monetization events,” Alshamsi noted.
The Acting CEO of Amanat, John Ireland, added: "Our portfolio experienced strong growth in 9M-23, delivering a 44% increase in revenue, driven in particular by our education platform which saw significant student enrolment growth across both our higher education and special needs businesses.”
“This translated through to increased profitability with 9M-23 EBITDA of AED 173.70 million and Net Profit of AED 88.20 million, up 65% YoY and 73% YoY, respectively.”
In January-June 2023, Amanat witnessed higher net profits attributable to the owners at AED 89.24 million, compared to AED 66.64 million a year earlier.
