{"id":100810,"date":"2025-02-18T00:00:00","date_gmt":"2025-02-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/e-adnh-binghatti-holding-and-more-report-2024-earnings\/"},"modified":"2025-02-18T00:00:00","modified_gmt":"2025-02-18T00:00:00","slug":"e-adnh-binghatti-holding-and-more-report-2024-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/02\/18\/e-adnh-binghatti-holding-and-more-report-2024-earnings\/","title":{"rendered":"e&, ADNH, Binghatti Holding and more report 2024 earnings"},"content":{"rendered":"

e&-<\/p>\n

e&\u2019s<\/strong> net income attributable to owners rose 4.3% y-o-y to AED 10.8 bn in 2024<\/strong>, according to its preliminary financials (pdf)<\/a>. The company\u2019s revenue increased by 10.1% y-o-y to AED 59.2 bn last year, driven by strong growth in its telecommunications and digital verticals. This was supported by increased contributions from international markets, the UAE\u2019s economic development, and a high demand for digital services.<\/p>\n

REMEMBER- <\/strong>The company is accelerating its international expansion, with the acquisition in October<\/a> of a controlling stake (50% + 1 share) in PPF Telecom Group to consolidate its assets and operations in Central and Eastern Europe under a new holding company e& PPF Telecom. e& PPF is also set to fully acquire<\/a> cable television and broadband internet service provider Serbia Broadband (SBB). <\/p>\n

ABU DHABI NATIONAL HOTELS-<\/p>\n

ADNH <\/strong>rec<\/strong>ords net profits of AED 1.3 bn: <\/strong>Abu Dhabi National Hotels<\/a> (ADNH) saw its bottom line jump by 216% to AED 1.3 bn in 2024, according to its financial statement (pdf)<\/a>. Revenues were also up by 77% y-o-y to AED 2.9 bn.<\/p>\n

Breakdown<\/strong>: <\/strong>The largest revenue boost came from ADNH's catering segment, which recorded a 100% increase, reaching AED 1.3 bn, according to its earnings release (<\/a>pdf<\/a>)<\/a>. This surge was attributed to the company\u2019s acquisition of Compass' remaining 50% stake in their joint venture, ADNH Compass, in March 2024<\/a> as part of a strategic revenue-boosting plan.<\/p>\n

ICYMI:<\/strong> The hospitality group capped off 2024 with an IPO of its catering arm<\/a>, ADNH Catering, which raised AED 864 mn.<\/p>\n

BINGHATTI HOLDING-<\/p>\n

Dubai<\/strong>-based real estate developer Binghatti Holding saw its net income rise <\/strong>151.7% to AED 1.8 bn in 2024<\/strong>, according to its financials (pdf)<\/a>. The company\u2019s revenue rose 197.6% y-o-y AED 6.4 bn last year. <\/p>\n

REMEMBER-<\/strong> The developer launched the AED 5 bn Binghatti Skyrise in Business Bay area in October<\/a>, a AED 4 bn project<\/a> in Dubai's Al Jaddaf area, and an AED 600 mn residential project<\/a> in Jumeirah Village Circle in September. <\/p>\n

EMIRATES NBD REIT-<\/p>\n

ENBD REIT\u2019s bottom line rises 65% y-o-y to USD 30.3 mn:<\/strong> ENBD<\/a>REIT<\/a>, Emirates NBD's Shariah-compliant real estate investment trust, reported a 65% y-o-y increase in net income to reach USD 30.3 mn for the third quarter ending 31 December, 2024, according to its latest financial results (pdf)<\/a>. The growth was driven by strategic leasing initiatives, efficient cost management and operating processes, and strong performance from its office assets. Robust tenant demand kept occupancy high at 95%.<\/p>\n

AL SAGR NATIONAL INS. COMPANY-<\/p>\n

Al<\/a><\/strong>Sagr Nationa<\/a><\/strong>l Ins.<\/a><\/strong>Company<\/a><\/strong> recorded a net loss of AED <\/strong>114<\/strong>.9 mn in FY 2024<\/strong>, according to its preliminary financial results (pdf)<\/a>, compared to a net profit of AED 6.4 mn in FY 2023. The company\u2019s revenues rose 6.5% y-o-y to AED 976.5 mn. The company said last December<\/a> that it was set to proceed with a capital reduction to offset accumulated losses.<\/p>\n

AL BUHAIRA NATIONAL INS.-<\/p>\n

Al<\/strong> Buhaira Ins. reported a net loss of AED 33.9 mn in FY 2024 compared to a net <\/strong>loss of 132.8 mn in FY 2023,<\/strong> according to an earnings release (pdf)<\/a>. The ins. provider saw its revenues rise 21.7% y-o-y to AED 1.5 bn during the year. <\/p>\n","protected":false},"excerpt":{"rendered":"

e&\u2019s net income increased in 2024 on the back of high demand for digital services<\/p>\n","protected":false},"author":1,"featured_media":100811,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[920,84,1744],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-100810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-binghatti","tag-e","tag-enbd-reit","wpautop","entry"],"acf":{"mongo_id":"64f3bd9b-e4b2-4567-8177-5a5f30ac5cff","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2795.jpg","photo_position":"above","homepage_title":"","full_issue_title":"e&, ADNH, Binghatti Holding and more report 2024 earnings","related_issue":[100792],"teaser":"e&\u2019s net income increased in 2024 on the back of high demand for digital services","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.82dc5d81-fb35-44b2-a037-b95976bd8ef7.mp3"},"yoast_head":"\ne&, ADNH, Binghatti Holding and more report 2024 earnings - 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