Earnings Report

Alpha Dhabi Holding

H1 26

1. Company Overview & Earnings Context

Alpha Dhabi Holding is one of the UAE's largest diversified investment holding companies, with businesses spanning real estate, construction, industrials, energy, healthcare, hospitality, capital investments and climate capital. The Group owns interests in more than 250 businesses operating across over 45 countries and continues to expand its diversified investment portfolio through strategic acquisitions and investments in high-growth sectors.

For H1 2026, Alpha Dhabi delivered another strong financial performance, reporting revenue of AED 37.6 billion and net profit of AED 9.8 billion. Growth was driven by continued momentum across its diversified operating businesses, improved profitability, higher contributions from associates and investment gains, while the Group continued strengthening its balance sheet and expanding its global investment platform.

2. Financial Performance Snapshot

Revenue: AED 37.58 Billion
Gross Profit: AED 8.89 Billion
Profit Before Tax: AED 10.69 Billion
Income Tax Expense: AED 895.3 Million
Net Profit: AED 9.79 Billion
Net Profit Attributable to Shareholders: AED 6.52 Billion
Earnings Per Share (EPS): AED 0.65

Compared with H1 2025:

Revenue increased 5% to AED 37.58 billion.
Gross profit increased 5% to AED 8.89 billion.
Profit before tax increased 43% to AED 10.69 billion.
Net profit increased 48% to AED 9.79 billion.
Earnings per share increased 97%, from AED 0.33 to AED 0.65.

3. Operational Highlights & Key Metrics

Total Assets: AED 230.06 Billion
Total Equity: AED 110.05 Billion
Cash & Bank Balances: AED 37.59 Billion
Investment Properties: AED 34.12 Billion
Investment in Associates & Joint Ventures: AED 17.74 Billion
Property, Plant & Equipment: AED 20.01 Billion
Contract Assets: AED 22.73 Billion
Development Work-in-Progress: AED 13.92 Billion
Adjusted EBITDA: AED 9.3 Billion
Adjusted EBITDA Margin: 25%
Net Profit Margin: 26%
Return on Owners' Equity (ROE): 18.4%

4. Key Performance Drivers

Alpha Dhabi's strong H1 2026 performance was supported by broad-based growth across its diversified portfolio, particularly within its real estate, construction, industrial, healthcare and hospitality businesses. Higher operating profitability, improved contributions from associates and joint ventures, and significantly higher other income contributed to the sharp increase in earnings. The Group also continued investing in strategic growth opportunities through its diversified investment platform, including exposure to leading global technology companies via Alpha Wave Ventures II.

5. Outlook & Forward Guidance

Management remains focused on expanding Alpha Dhabi's diversified investment platform while pursuing long-term value creation through disciplined capital allocation, strategic acquisitions and investments in future-ready industries. The Group intends to continue strengthening its presence across high-growth sectors while expanding internationally and investing in innovation, artificial intelligence and transformational technologies to support sustainable long-term growth.

6. Investor Takeaway

Alpha Dhabi delivered an impressive H1 2026 performance, combining steady revenue growth with a significant increase in profitability and margin expansion. Supported by a strong balance sheet, diversified portfolio and continued investment in both traditional and future-focused industries, the Group remains well positioned to deliver sustainable long-term shareholder value.