UAE: Earnings of 123 listed Emirati companies total $52bln in 2022

UAE: Earnings of 123 listed Emirati companies total $52bln in 2022

ABU DHABI – The net earnings of 123 listed Emirati companies reached AED 191 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 percent or AED 72 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 AED 137.384 billion, reflecting a rise of 71 percent, while 46 companies listed on the Dubai Financial Market saw their earnings grow by 38 percent to AED 53.506 billion in 2022.

The banking sector continued to dominate the earnings, with 18 banks recording net earnings of AED 50.319 billion last year, a growth of 32 percent compared to around AED 38.111 billion in 2021.

The International Holding Company (IHC) emerged as the most profitable listed company, recording a 175 percent increase in net earnings to AED 31.86 billion in 2022, compared to 2021, with revenues growing by 76 percent to AED 50.4 billion.

The Multiply Group's net earnings also surged to AED 18.56 billion in 2022, supported by the strong performance of its investments and