TAQA-

Abu Dhabi National Energy Company (Taqa) reported a 1.5% y-o-y decline in net income attributable to shareholders to AED 2.1 bn in 1Q 2025, reflecting lower oil and gas production and ongoing commodity price volatility, according to its financials (pdf) and earnings release (pdf). Revenues rose 3.8% y-o-y to AED 14.2 bn, supported by higher pass-through items in its transmission and distribution (T&D) segment.

Looking ahead: Taqa plans to invest around AED 36 bn in energy infrastructure projects over the coming years, including the 1 GW Al Dhafra Thermal Plant and new grid developments in partnership with Ewec. The group is also scaling up its international presence through Masdar, which acquired Spain’s Valle Solar project (243 MW) and agreed to buy a 49.99% stake in four Endesa solar assets (446 MW). Post-period, Taqa also acquired UK-based Transmission Investment, a major developer and operator of offshore electricity transmission assets, and inked an agreement to transform the Shuweihat 1 (S1) power project into a natural gas-based power plant.

Dividends: Taqa’s board approved a 1Q 2025 interim dividend of 0.75 fils per share.

SPACE42-

Bayanat and Yahsat’s spacetech firm Space42’s net income fell to 46% y-o-y to USD 28.9 mn in 1Q 2025, according to its pro forma financials (pdf) — prepared as if the merger occurred on 1 January 2023, excluding purchase price allocation effects and treating the difference between fair value and book value as provisional goodwill. Revenue fell 12.7% y-o-y to USD 115.1 mn, due to milestone timing shifts at Bayanat Smart Solutions as it transitions toward a programmatic go-to-market model, the company said in a separate earnings release (pdf).

Looking ahead:Space42 is targeting scalable growth across its four strategic pillars, backed by USD 895 mn in funds and short-term deposits, and nearly USD 7 bn in contracted future revenues. Key upcoming milestones include the commercial launch of the Thuraya-4 satellite and a new Abu Dhabi-based high-altitude platform station in 2H 2025, along with production of synthetic aperture radar satellites beginning in 2H. The company is also expanding its AI-driven geospatial platform and continuing work on its dual-use satellite programs for defense and civil applications.

BHM CAPITAL-

Abu Dhabi-based BHM Capital reported a 23% y-o-y increase in its bottom line during 1Q 2025 to AED 11 mn, according to an earnings release (pdf). The firm added 8.1k accounts to its client base in 1Q, making up 41.37% of all new accounts in the market during the quarter, the earnings release added, citing data from the Dubai Financial Market.

Looking ahead:BHM Capital plans to grow its capital by AED 200 mn to fund upcoming projects and strengthen its footprint across local, regional, and international markets. The company plans to expand into new markets, including Egypt, Armenia, Kazakhstan, Iraq, and Jordan, while also growing its presence in markets like Bahrain and Oman, where it recently expanded operations. BHM is also working towards increasing its AI, infrastructure, and technology investments.

JULPHARMA-

Gulf Pharma Industries’ (Julphar) net income attributable to shareholders climbed nearly 90x to AED 140.9 mn in 1Q 2025, including operations from its divested Saudi retail unit Zahrat Al Rawdah, according to its financials (pdf). Revenues from contracts rose to AED 359.2 mn, up 6.7% y-o-y. Meanwhile, net income from continuing operations — excluding contributions from Zahrat Al Rawdah — rose 49.7% y-o-y to AED 21.7 mn.

Looking ahead:Julphar plans to increase its market share in key regions, accelerate internal research and development, and build partnerships to strengthen its product lineup, the company said in a separate discussion report (pdf). The company will also introduce new products within its main therapeutic areas, alongside investing in a new pharma and biotech manufacturing facility in Saudi Arabia.

ALPHA DATA-

Alpha Data turns in first earnings post-IPO: IT services provider Alpha Data posted a 46.6% y-o-y increase in net income to AED 31.9 mn in 1Q 2025, according to its financials (pdf). Revenues rose 45.3% y-o-y to AED 594.4 mn during the quarter.

REFRESHER- Alpha Data took a 40% stake to market in March in an IPO raising AED 600 mn. It remains the UAE’s only listing so far this year.

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