Abu Dhabi – Mubasher: Modon Holding generated AED 9.38 billion in net profit during 2024, compared to AED 573.95 million in 2023, as per the consolidated financial results.
The group registered 637% year-on-year (YoY) higher revenues at AED 6.51 billion in 2024 when compared with AED 882.39 million, driven by the acquisition of ADNEC and Modon Properties.
Basic and diluted earnings per share (EPS) attributable to the owners hit AED 0.63 last year, higher than AED 0.07 in the 12-month period that ended on 31 December 2023.
Total revenue backlog reached AED 25.30 billion in 2024, reinforcing the ADX-listed company’s long-term revenue security for the next three years.
Abdullah Al Sahi, Group Managing Director of Modon Holding, said: "Modon has surpassed expectations both locally and internationally with landmark projects such as our appointment as master developer for Ras El Hekma in Egypt, and the acquisition of La Zagaleta in Spain.”
