Dubai, February 1, 2016: Dubai Investments PJSC [DFM: DIC], the leading, diversified investment company listed on the Dubai Financial Market, today announced preliminary, unaudited results for the period ended 31 December, 2015.
Dubai Investments delivered a strong full-year 2015 net profit of AED 1.1 billion attributable to shareholders of the company, and earnings per share of AED 0.27. Excluding the previous year’s one-off profit of AED 472 million on the 66% divestment of Globalpharma, this represents an increase of 27% compared to AED 871 million net profit achieved in 2014. Return generated on average equity was 10.3%.
The net profit for Q4 2015 was AED 357 million, a year-on-year increase of 2.7% compared to AED 348 million for Q4 2014. Total assets rose by AED 1 billion to AED 15.5 billion as at 31 December 2015, an increase of 7% compared with AED 14.5 billion at the end of 2014.
Announcing the results Mr Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said: “We have once again delivered strong results against the backdrop of a challenging environment. This underpins the diverse nature and adaptability of our businesses which enable us to take advantage of varied opportunities that arises in the market from time to time.”
“As part of the Group strategy, we have now ventured into the healthcare and education sectors as these are areas which we believe will benefit from significant growth in the future. We have also tapped into promising markets across the GCC and Africa to further strengthen our position as a regional powerhouse,” Mr Kalban added.
During 2015, Dubai Investments acted upon its plans to enhance its geographical footprint in Saudi Arabia by entering into a joint venture to develop Riyadh Investment Park, a project targeted at meeting the rising demands for warehousing and industrial real estate in the eastern part of Riyadh. Furthermore, it raised its stakes in Al Mal Capital and Emirates Float Glass, and made investments in King’s College Hospital Dubai and the Dubai campus of MODUL University. The Group also successfully divested its stakes in rubber companies held by its subsidiary Masharie, realising an impressive IRR of 18%.
Looking ahead, Mr Kalban said: “In 2016, Dubai Investments will continue to target new opportunities, with a focus on increasing its asset base, strengthening bottom line and improving operational efficiency. The fundamentals of the UAE economy are strong, and diversification is increasing the country’s resilience to macroeconomic risks. Infrastructure development will be a key factor this year as we expect the Dubai government to begin mobilising EXPO 2020 related projects towards the end of this year.”
Dubai Investments owns 41 subsidiaries, joint ventures and associates across a diverse range of sectors and continues to seek new investment opportunities in new sectors, locally and internationally, as part of its strategic roadmap.
About Dubai Investments PJSC:
Dubai Investments PJSC is a leading investment company listed on the Dubai Financial Market with over 19,800 shareholders and a paid-up capital of AED 4 billion. Incorporated in 1995, the company has grown exponentially with investments in a number of businesses across three core sectors – real estate, manufacturing & industrial and financial investments across the UAE and the Middle East.
Since inception, Dubai Investments has challenged the norms and introduced cutting-edge technologies, pioneering business models, unique investment strategies and innovative concepts across its diversified portfolio spanning different sectors and markets across the globe. Dubai Investments currently has over 40 subsidiaries & joint ventures under its portfolio, across a wide array of industries and continues to seek new investment opportunities in new sectors, locally and internationally, as part of its strategic expansion plans.