SHUAA Capital delivers AED 20mln net profit in Q3 2022 driven by strong recurring revenues

SHUAA Capital delivers AED 20mln net profit in Q3 2022 driven by strong recurring revenues

- Third quarter net operating income (excluding one-off items) of AED 14 million compared to AED 6 million in Q2 2022, backed by strong recurring revenues across all segments while maintaining firm cost discipline across the Group.

- Cost to income ratio at 77% in Q3 2022 significantly lower than the 90% in Q2 2022. Expanding operating margins for the business in Q3 2022 driven by lower costs.

- Continued disciplined approach to deleveraging with debt-to-equity ratio at 124% in Q3 2022. Balance sheet metrics expected to improve in Q4 2022 driven by higher profitability and further reduction of leverage.

United Arab Emirates, 11 November 2022: SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, has announced its financial results for Q3 2022. In the third quarter, SHUAA and its subsidiaries (the "Group") reported a net profit attributable to shareholders of AED 20 million compared to a net loss of AED 170 million in the previous quarter. The Group reported a net operating income (excluding one-off items) of AED 14 million compared to AED 6 million in Q2 2022 as recurring revenues continue to build a stable moat and cost optimization measures taken earlier starting to