Abu Dhabi – Mubasher: Multiply Group registered AED 337.80 million in net profit attributable to the owners during 2023, compared to AED 18.42 billion in 2022.
Net profits excluding fair value changes reached AED 1.11 billion in 2023, according to the consolidated financial results.
The group posted revenues amounting to AED 1.29 billion, up 15% year-on-year (YoY) from AED 1.12 billion.
The basic earnings per share (EPS) stood at AED 0.03 in the January-December 2023 period, an annual plunge from AED 1.65.
The balance sheet remained robust with a cash balance of AED 1.56 billion. Meanwhile, the total assets increased to AED 42.15 billion last year from AED 41.20 billion in 2022.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, noted: “We report a net profit excluding fair value changes of AED 1.10 billion, which more than doubled from that of last year, driven by strong vertical performance and dividend income.”
“The year was also marked with strategic investments, where we completed the acquisition of a majority stake in Media 247, which closed the year with AED 79 million in profit,” Bouazza added.
The CEO also stated that under Multiply+ arm, “We invested AED 367 million for a minority stake in EIG’s Breakwater Energy, which offers a strong dividend profile, as we continue to focus on our commitment to increase shareholder returns.”
In the first nine months (9M) of 2023, Multiply Group recorded net profits attributable to the shareholders worth AED 410.12 million, lower YoY than AED 9.64 billion.
