Net profits of 123 listed Emirati firms reach AED191b in 2022

Net profits of 123 listed Emirati firms reach AED191b in 2022

Local News, News, Uncategorized















Abu Dhabi / WAM

The net earnings of 123 listed Emirati companies reached AED191 billion in 2022, indicating their robust financial position and healthy revenue growth.

According to a report by the Emirates News Agency (WAM), the net earnings of national listed companies increased by 60% or AED72 billion from January 2022 to December 2022.

Out of the total earnings, nearly 77 companies listed on the Abu Dhabi Stock Exchange (ADX) accounted for the largest share valued at AED137.384 billion, reflecting a rise of 71%, while 46 companies listed on the Dubai Financial Market (DFM) saw their earnings grow by 38% to AED53.506 billion in 2022.

The banking sector continued to dominate the earnings, with 18 banks recording net earnings of AED50.319 billion last year, a growth of 32% compared to around AED38.111 billion in 2021.

The International Holding Company (IHC) emerged as the most profitable listed company, recording a 175% increase in net earnings to AED31.86 billion in 2022, compared to 2021, with revenues growing by 76% to AED50.4 billion.

The Multiply group’s net earnings also surged to AED18.56 billion in 2022, supported by the strong performance