Modon Holding

1. Company Overview & Earnings Context

Modon Holding is an Abu Dhabi-based diversified holding company operating across real estate development, asset management, hospitality, exhibitions, events, catering, tourism, and strategic investments. During H1 2026, the Group continued expanding its portfolio while strengthening its presence both within the UAE and internationally.

For H1 2026, Modon Holding delivered strong financial growth, supported by higher property development revenues, growth in rental income, improved finance income, and contributions from strategic acquisitions and investments. The company also recorded a gain from the disposal of a joint venture during the period.

2. Financial Performance Snapshot

• Revenue: AED 9.19 Billion

• Gross Profit: AED 3.20 Billion

• Profit Before Tax: AED 2.60 Billion

• Income Tax Expense: AED 401.2 Million

• Net Profit: AED 2.20 Billion

• Earnings Per Share (EPS): AED 0.132

Compared with H1 2025:

• Revenue increased 40.4% to AED 9.19 billion.

• Gross profit increased 12.5% to AED 3.20 billion.

• Profit before tax increased 3.3% to AED 2.60 billion.

• Net profit increased 3.9% to AED 2.20 billion.

• Earnings per share increased from AED 0.128 to AED 0.132.

3. Operational Highlights & Key Metrics

• Total Assets: AED 92.0 Billion

• Total Equity: AED 57.3 Billion

• Property, Plant & Equipment: AED 8.70 Billion

• Investment Properties: AED 9.50 Billion

• Inventories: AED 27.60 Billion

• Development Work-in-Progress: AED 6.49 Billion

• Cash & Bank Balances: AED 12.30 Billion

• Investment in Associates & Joint Ventures: AED 2.83 Billion

• Finance Income: AED 224.2 Million

• Finance Costs: AED 249.9 Million

4. Key Performance Drivers

Growth during the first half was primarily driven by a sharp increase in property development revenue, higher rental income from temporary infrastructure, and stronger finance income. The Group also benefited from strategic acquisitions, including Production Elements Inc. (PEI), and recognized a gain on the disposal of a joint venture. Revenue growth was partially offset by higher direct costs, increased administrative expenses, and higher finance costs associated with expansion activities.

5. Outlook & Forward Guidance

The interim financial statements do not include formal earnings guidance. However, Modon Holding continued investing in property development, strategic acquisitions, hospitality, and international expansion while maintaining a strong balance sheet and diversified portfolio across multiple sectors. Management also noted that geopolitical developments had not resulted in any impairment indicators as of the reporting date.

6. Investor Takeaway

Modon Holding delivered another solid set of first-half results, with double-digit revenue growth, higher profitability, and continued expansion across its diversified businesses. Backed by a strong asset base, strategic investments, and an expanding development pipeline, the Group remains well positioned for long-term growth.