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Earnings Report

International Holding Company

Q1 26 NEUTRAL LOW Impact

1. Company Overview & Earnings Context

International Holding Company (IHC) reported its Q1 2026 results, delivering a strong performance with robust growth in revenue and profitability, driven by broad-based expansion across its diversified portfolio.

2. Financial Performance Snapshot

  • Revenue: AED 31.4B (+33.2% YoY)

  • Gross profit: AED 7.9B (+35.1% YoY)

  • Profit before tax: AED 9.0B (+84.4% YoY)

  • Net profit: AED 8.2B (+98.5% YoY)

  • EPS: AED 2.32 (+246.3% YoY)

  • Gross margin: ~25.2% (slight improvement YoY)

3. Operational Highlights & Key Metrics

  • Total assets: AED 445.3B (+3.9% QoQ)

  • Total equity: AED 249.1B (stable QoQ)

  • Cash & bank balances: AED 74.7B (strong liquidity)

  • Total liabilities: AED 196.2B (+10.3% QoQ)

  • Total debt: AED 94.8B (+12.3% QoQ)

  • Profitability metrics:

    • ROE: 17.8% (↑ from 15.2%)

    • ROA: 9.0%

  • Segment growth highlights (page 5):

    • Energy & Mining: >4x growth

    • Hospitality: +126.8% YoY

    • Technology: +54.1% YoY

    • Real Estate & Construction: +18.3% YoY

4. Key Performance Drivers

IHC’s Q1 2026 performance was driven by broad-based sector growth and active portfolio management, as outlined in the MD&A (pages 2–5):

  • Strong top-line growth (+33%), supported by expansion across multiple sectors

  • Significant profit expansion (+98%), driven by operating leverage and higher contributions across segments

  • High-growth verticals, particularly energy, hospitality, and technology

  • Active capital deployment strategy, including acquisitions and portfolio restructuring

  • Operating cost increase (SG&A +69%), reflecting scale-up of operations

Overall, performance reflects IHC’s dynamic investment model and diversified earnings base.

5. Outlook & Forward Positioning

Based on management commentary (pages 2 & 6):

  • Continued focus on acquisitions, diversification, and capital deployment

  • Expansion across global markets and high-growth sectors

  • Leveraging AI, technology, and dynamic value networks

  • Supported by UAE economic growth outlook (~5.6% GDP growth)

  • Positioned to navigate external risks (geopolitics, global slowdown) with diversified portfolio

6. 🧾 Investor Takeaway

IHC delivered strong Q1 2026 growth with significant profit expansion, driven by diversified sector performance and active investment strategy, reinforcing its position as a high-growth, multi-sector investment platform.