IHC revenue tops 100 billion dirhams, profit jumps 87%

Key Points

1. IHC posted 100.5 billion dirhams in nine-month revenue, up 33.2% year-on-year from continuing operations.
2. Profit after tax reached 32.5 billion dirhams, with seven of eight business segments growing.
3. Crossing the 100 billion mark reshapes the scale of Abu Dhabi's largest listed investment holding group.

The latest:

Revenue at International Holding Company reached 100.5 billion dirhams in the first nine months of 2026, a 33.2% year-on-year rise from continuing operations, the group announced. Profit after tax climbed 87% to 32.5 billion dirhams over the same period. Chief Executive Syed Basar Shueb described passing the 100 billion dirham threshold as a milestone reflecting operational growth and the continued expansion of the group’s international investment platform.

Details:

• The headline numbers: Gross profit rose 35.4% to 25.3 billion dirhams and pre-tax profit rose 84.2% to 35.1 billion dirhams, according to the company. Earnings per share increased 129.6% to 9.71 dirhams, while return on equity stood at 20.8% for the nine-month period.
• Largest contributor: Real estate and construction remained the group’s biggest revenue segment at 33.3 billion dirhams, up 12.8%. Marine construction and dredging followed with 22.4 billion dirhams, a more modest 3.7% increase, leaving the two traditional pillars together accounting for over half the top line.
• The outlier: Energy and mining produced the steepest move, surging 295.1% to 19.3 billion dirhams. IHC attributed the jump to the expansion of metals and hydrocarbon trading, a shift that lifted the segment into third place among the group’s eight business lines.
• Consumer-facing growth: Hospitality and leisure revenue rose 93.7% to 7.8 billion dirhams, while food climbed 25.7% to 5.1 billion dirhams, according to the company’s disclosure, indicating that the expansion extended beyond the industrial and trading operations.
• Financial and tech: Financial services revenue grew 53.7% to 4.4 billion dirhams and technology rose 20.5% to 2.9 billion dirhams. Seven of the group’s eight segments recorded revenue growth; the company did not identify the segment that declined or quantify its performance.
• Balance sheet: Total assets increased 13.4% to 485.9 billion dirhams and total equity rose 9.9% to 275.4 billion dirhams. Cash and bank balances stood at 76.6 billion dirhams at the end of September, according to the figures released by the group.
• The debt line: Net debt rose to 30.4 billion dirhams, which IHC linked to financing raised to support the group’s investment programme. The company did not detail the terms of those facilities or name the assets the borrowing is funding.
• Management framing: Shueb tied the result to both operating performance and the build-out of the group’s international platform, presenting the revenue milestone as evidence of growth in “the continued expansion of the international investment platform” rather than a one-off trading gain.

Background:

IHC is Abu Dhabi’s largest listed investment holding company, operating across eight business segments spanning real estate, marine construction, energy, hospitality, food, financial services and technology.

Between the lines:

The profit line grew far faster than revenue — 87% against 33.2% — and pre-tax profit rose 84.2%, pointing to gains concentrated above the operating line rather than spread evenly across the portfolio. The energy and mining segment’s 295.1% jump, driven by trading expansion, carries a different earnings profile from the stable real estate base that remains the group’s largest contributor.

What’s next

Full-year 2026 results will show whether the energy and mining trading surge holds, and whether net debt continues rising as IHC funds its investment programme.