IHC nearly doubles earnings as investment gains turbocharge 1Q<\/p>\n
Abu Dhabi-listed investment giant International Holding Co<\/strong>mpany (IHC) <\/strong>kicked off <\/strong>2026 with a sharp jump in profitability<\/strong>, reporting net income after tax of AED 8.2 bn in 1Q, up 98.5% y-o-y, according to its earnings release (pdf)<\/a> and management discussion and analysis report (pdf)<\/a>. Revenue climbed 33.2% y-o-y to AED 31.4 bn, supported by broad-based growth across its portfolio alongside higher investment income and fair value gains.<\/p>\n The biggest growth engines?<\/strong> Energy and mining revenue more than quadrupled y-o-y to AED 5.4 bn, while hospitality and leisure revenue jumped 126.8% to AED 2.7 bn. Technology revenue rose 54.1% to AED 1 bn, and topline inflows from financial services climbed 47.6% to AED 1.3 bn. Real estate and construction remained the group\u2019s largest segment, generating AED 10.8 bn in revenue.<\/p>\n IHC continued crafting a diverse investment portfolio via its subsidiaries during the quarter<\/strong>, helping lift total assets to AED 445.3 bn by the end of March. That includes ePointZero\u2019s USD 2.3 bn acquisition<\/a> of US gas infrastructure player Traverse Midstream Partners; 2PointZero\u2019s acquisition of a 60.8% stake<\/a> in Italy\u2019s ISEM Packaging Group; and a USD 1 bn acquisition of a 41.5% stake in India\u2019s Sammaan Capital<\/a>. <\/p>\n How was growth funded? <\/strong>Total debt climbed 12.3% q-o-q to AED 94.8 bn, partly driven by AED 7.4 bn in sukuk issuance, while the company also approved a new AED 5 bn share buyback program<\/a> during the quarter.<\/p>\n Looking ahead: Management struck a confident tone despite the regional backdrop.<\/strong> CEO Syed Basar Shueb said IHC would \u201ccontinue to recycle capital into high-conviction opportunities\u201d while expanding globally and scaling its dynamic value networks model.<\/p>\n \n Parkin keeps the bottom line moving through softer March traffic<\/p>\n Dubai parking operator Parkin also saw regional tensions and an extended Eid <\/strong>holi<\/strong>day period weigh on activity in 1Q 2026, though earnings still surged<\/strong>, according to its earnings release (pdf)<\/a> .<\/strong> Net income rose 36% y-o-y to a record AED 185.1 mn in 1Q, while revenue climbed 41% to AED 384.2 mn. <\/p>\n Growth was driven by higher parking tariffs<\/strong>, a 23% increase in parking spaces, and seasonal card sales that surged 129% y-o-y to 100.6k as commuters shifted toward fixed-rate permits under Dubai\u2019s variable parking system<\/a>. Parkin has since proposed<\/a> raising seasonal card tariffs. Still, activity softened in March, as total parking transactions fell 5% y-o-y to 34.7 mn, while public parking utilization dropped to 21.8%. <\/p>\n Dividends: <\/strong>Parkin reiterated its policy of paying semi-annual dividends in April and October, with FY2026 payouts expected to equal at least 100% of net income or free-cash-flow to equity \u2014 whichever is higher. The company distributed AED 655.7 mn in FY2025 dividends, above its AED 625.5 mn net earnings for the year.<\/p>\n \n Emirates Group posts record net income <\/p>\n Emirates, <\/strong>meanwhile, saw net income rise 3% y-o-y despite the outbreak of the war at the <\/strong>end of February triggering a period of severe airspace disruptions. <\/strong>Its net income reached AED 21 bn in FY 2025-26,on record revenues of AED 150.5 bn, according to Dubai Media Office<\/a>. <\/p>\n The breakdown: <\/strong>Emirates Airlines alone booked AED 19.7 bn in net income on AED 130.9 bn in revenues. Emirates SkyCargo generated AED 16.2 bn in revenue, while its air services provider arm dnata posted an AED 23.6 bn topline. Passenger traffic softened as expected, with the airline carrying 53.2 mn passengers compared with 53.7 mn a year earlier.<\/p>\n The forward view: <\/strong>Emirates has about three-quarters of its flights operating at pre-conflict capacity, Emirates CEO Ahmed bin Saeed Al Maktoum said<\/a>. Emirates is hedged on fuel through to 2028-2029 and has secured the supply volumes needed to restore operations back to pre-disruption levels, he added. He also added the group\u2019s cash-reserves allow it to continue fleet and retrofit spending without \u201cknee-jerk cost control measures.\u201d <\/p>\n BUT- Lower net income meant smaller bonuses for staff: <\/strong>Emirates staff were allocated a smaller bonus \u2014 at 20 weeks\u2019 worth of salary \u2014 this year as net income came in lower than expected, down from the 22-week payout last year, people familiar with the matter were quoted as saying by Bloomberg<\/a>. <\/p>\n \n Regional uncertainty hits Dubai Taxi <\/p>\n The war also weighed on <\/strong>Dubai <\/strong>Taxi Company\u2019s earnings<\/strong>, with revenues falling 6% y-o-y to AED 551.1 mn in 1Q, according to its earnings release(pdf)<\/a>. Its bottomline also took a hit, falling 39% to AED 50.7 mn.<\/p>\n The softer quarter was heavily tied to the war outbreak and lower trip numbers<\/strong>, and came despite a stronger start to the year. Revenues were up 10% y-o-y in January and February, and net income rose 25% y-o-y in the same period, supported by fleet expansion and continued demand across its mobility segments. <\/p>\n Taxi revenue, which remains the company\u2019s largest business line, fell 11.5% y-o-y to AED 455.3 mn <\/strong>during the quarter as trip volumes weakened in March. Limousine revenue dropped 15% to AED 29.2 mn. The delivery bike business outperformed, with revenue jumping 61% y-o-y to AED 26.6 mn on sustained demand in the on-demand delivery segment.<\/p>\n \n Burjeel\u2019s operating rooms are still busy as earnings jump 44.5%<\/p>\n Burjeel Holdings delivered resilient growth in 1Q 2026 despite softer activity tied <\/strong>to <\/strong>regional tensions and Ramadan timing shifts. <\/strong>The ADX-listed healthcare provider reported net income of AED 57 mn, up 44.5% y-o-y, according to its earnings release (pdf)<\/a> and management discussion and analysis report (pdf)<\/a>. Revenue rose 5.1% to AED 1.3 bn on a 7.2% increase in patient footfall, while its hospitals business \u2014 which accounts for nearly 89% of group revenue \u2014 grew 5.5% y-o-y to AED 1.2 bn.<\/p>\n The outlook: <\/strong>Management said deferred elective procedures in March had created a backlog of more complex cases expected to support activity in coming quarters.<\/p>\n Dividends: <\/strong>The group approved an AED 120 mn FY2025 dividend during the quarter.<\/p>\n","protected":false},"excerpt":{"rendered":" IHC saw its earnings nearly double in 1Q against investment gains<\/p>\n","protected":false},"author":1,"featured_media":116817,"comment_status":"closed","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":[847,237,7,31,183],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-116816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-burjeel-holdings","tag-earnings-watch","tag-enterpriseam-uae","tag-international-holding-company","tag-parkin","wpautop","entry"],"acf":{"mongo_id":"3bc587e2-9fab-4542-9c94-f548813e01f8","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/157.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Earnings out from IHC, Burjeel, Emirates, Parkin, DTC","related_issue":[116803],"teaser":"IHC saw its earnings nearly double in 1Q against investment gains"},"yoast_head":"\n