Abu Dhabi Ship Building + others report 2023 results

#1- Abu Dhabi Ship Building reported net income of AED 40.4 mn in 2023, up 97%y-o-y, according to the company’s financial statements (pdf). The company’s contract revenues rose 90% y-o-y to AED 1.3 bn during the year.

#2- Hayah Ins. Company reported a net loss of AED 5.7 mn in 2023 compared to a net income of AED 7.4 mn in 2022, due to efforts to expand in the “largely untapped life ins. market,” and a 12% increase in non-attributable operating costs, according to the company’s financial statements (pdf). The company’s total ins. revenues stood at AED 89 mn during the year, up 24% y-o-y.