UAE: Waha Capital sees 12% lower profits to shareholders in 2022

UAE: Waha Capital sees 12% lower profits to shareholders in 2022

Waha Capital logged net profits attributable to the equityholders worth AED 344.37 million in 2022, down 12% year-on-year (YoY) from AED 391.03 million.

The net operating income reached AED 720.31 million during the January-December 2022 period, an annual drop of 21% from AED 916.60 million, according to the consolidated financial results.

Meanwhile, the basic and diluted earnings per share (EPS) attributable to the owners stood at AED 0.18 last year, compared to AED 0.21 in 2021.

Total assets plummeted to AED 9.49 billion as of 31 December 2022 from AED 9.58 billion a year earlier.

Income Statements for Q4

During the fourth quarter (Q4) of 2022, the company’s net profits attributable to the shareholders jumped by 67% YoY to AED 157 million from AED 94 million in Q4-21.

Furthermore, the total income rose by 26% YoY to AED 280 million in Q4-22 from AED 223 million.

Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, said: “Despite the challenging market conditions, Waha Capital made excellent progress towards its long-term objectives in 2022, and the core businesses are now well-positioned for future success.”

“The public markets business has maintained the exceptional track record of its flagship funds, while the Private Investments business successfully monetised mature assets and developed its