IHC Reports 41.1% Revenue Growth in Q1 2025, Driven by Real Estate and Global Expansion
International Holding Company (IHC) has posted a 41.1% year-on-year revenue increase in the first quarter of 2025, reaching Dhs27.2 billion, supported by strong performances in core verticals such as real estate, hospitality, and marine and dredging.
Net profit after tax stood at Dhs4.1 billion, translating into a net profit margin of 15.2%, a testament to the company’s effective operational strategy and resilient business model.
"Our Q1 2025 performance reinforces the strength of IHC’s diversified model and the growing impact of our strategic investments across global markets," said Syed Basar Shueb, CEO of IHC.
Strong Financial and Operational Performance
- Total assets rose to Dhs416.6 billion as of March 31, 2025, up from Dhs401.8 billion at the end of 2024.
- Return on equity (ROE) reached 9.9%, highlighting the company’s ability to generate sustained value for shareholders.
Real Estate and Hospitality Lead the Charge
The real estate segment led IHC’s revenue growth, increasing by 53.3% year-on-year and contributing 42.5% of total revenue. This surge was fueled by strong demand for existing inventory and the successful launch of new development projects.
Meanwhile, the hospitality and leisure segment recorded an impressive 96.6% increase in revenue, reflecting higher occupancy rates and growing demand across key assets.
The marine and dredging segment delivered an 18% revenue increase, driven by intensified project activity and international diversification.
Expansion in Assets and Capital Allocation
IHC’s real estate and construction assets grew by 4.9% year-on-year, reaching Dhs170.7 billion. This growth aligns with the group’s strategic focus on expanding high-growth sectors.
Shueb emphasized IHC’s disciplined capital allocation and operational resilience as key factors supporting the group's consistent upward trajectory.
Strategic Milestones and Global Moves
IHC’s Q1 was marked by strategic acquisitions, joint ventures, and market entries that broadened its global reach and reinforced its diversified model:
- Multiply Group acquired a 67.91% stake in Spanish fashion retailer Tendam, strengthening IHC’s presence in the global apparel industry.
- Gridora Infrastructure Platform, a joint venture with ADQ and Modon Holding, was launched to lead large-scale infrastructure projects in the UAE and internationally.
- Alpha Dhabi raised its stake in National Corporation for Tourism & Hotels (NCTH) to 73.7%, consolidating premium hospitality assets.
- In collaboration with First Abu Dhabi Bank and ADQ, IHC announced the launch of a UAE Dirham-backed stablecoin, supporting digital payment innovation and blockchain development.
- Modon Holding entered the UK market through a 50% joint venture in the 2 Finsbury Avenue development.
- Al Ain Farms signed an Dhs85 million agreement to acquire Al Jazira Poultry Farm, boosting its market share in the UAE’s food sector.
- PureHealth, an IHC subsidiary, acquired a 60% stake in Hellenic Healthcare Group—Greece’s largest private healthcare provider—for $2.3 billion.
- A Memorandum of Understanding (MoU) was signed with Lunate to explore enrolling employees in the Ghaf Benefits plan, reinforcing IHC’s commitment to human capital development.
- IHC led a delegation of subsidiaries to the World Economic Forum, focused on forming strategic global partnerships.
Innovation, Resilience, and Future Outlook
"Beyond delivering strong financial results, we are shaping the industries of tomorrow through dynamic value networks," added Shueb. "By connecting innovative businesses, strategic partnerships, and operational excellence, we are building a platform designed for sustained global relevance."
IHC remains well-positioned to capitalize on emerging market opportunities, supported by a dynamic investment approach, strong recurring revenue streams, and a long-term focus on sustainability, innovation, and shareholder value.
Conclusion
IHC’s robust Q1 2025 results reflect the company’s ability to balance operational efficiency with aggressive global expansion. The group’s strategic investments across diversified sectors, both locally and internationally, affirm its role as a leading catalyst for economic growth and innovation in the UAE and beyond.
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