Abu Dhabi – Mubasher: The net profits attributable to the owners of Waha Capital hit AED 381.27 million in 2024, an annual plunge of 13.40% from AED 440.10 million, according to the financial results.
Net operating income fell by 3.80% to AED 1.17 billion last year from AED 1.22 billion in 2023, while the basic and diluted earnings per share (EPS) attributable to the shareholders declined to AED 0.20 from AED 0.23.
Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, commented: “Third-party assets under management (AUM) increased by 25% to reach AED 6.90 billion, representing 58% of total AUM and contributing to higher fee income.”
“During the year, Private Investments benefited from mark-to-market gains on portfolio assets producing net profit of AED 116 million, while Waha Land’s net profit reached AED 46 million driven by increased rental income,” Al Muhairi added.
Cash Dividends
Following Waha Capital’s resilient financial performance in 2024, the board members recommended a cash dividend of 10 fils per share.
The proposal is subject to regulatory and shareholder approvals at the annual general meeting.
In the first nine months (9M) of 2024, Waha Capital posted 26% year-on-year (YoY) higher net profits attributable to the owners at AED 282 million, versus AED 223 million.
