International Holding Company has unveiled its financial results for 2024, showcasing a substantial 54.2% increase in revenue, reaching Dhs92.7 billion, up from Dhs60.1 billion in 2023. This impressive growth is attributed to strong performances across various sectors, notably real estate and construction, marine and dredging, and hospitality and leisure.
The company’s net profit stood at Dhs25.7 billion, indicating a strategic shift towards value-driven investments. Total assets expanded by 52% to Dhs401.8 billion, bolstered by strategic acquisitions and enhanced operational efficiencies. Additionally, total equity rose by 55.9% to Dhs244.4 billion, further solidifying IHC’s financial foundation and global investment presence.
Despite the overall growth, earnings per share experienced a decline, registering at Dhs7.19 compared to Dhs12.55 in the previous year. This reduction in EPS is primarily due to the issuance of additional shares during the year, which diluted the earnings per share metric.
IHC’s diversified portfolio has been pivotal in driving its robust financial performance. The real estate and construction segment witnessed significant growth, propelled by increased demand and successful project completions. The marine and dredging sector also contributed positively, benefiting from strategic contracts and expansions. Furthermore, the hospitality and leisure division experienced a resurgence, aligning with global trends of recovery in travel and tourism.
In line with its growth strategy, IHC has been actively pursuing strategic acquisitions to enhance its market position. The company’s focus on value-driven investments has not only expanded its asset base but also diversified its revenue streams, mitigating risks associated with market volatility.
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