Emirates Stallions Group reports a 316% increase in net profits.

• Emirates Stallions Group is an engineering and construction company in the UAE, Abu Dhabi.
• The Group reported yearly increases which amounted to 316% in 2023.
• ESG reported a gross profit of AED168 million (USD45.7 Million), up 99% from the prior year.

Emirates Stallions Group, an engineering and construction company based in the UAE and owned by International Holding Company (IHC) in Abu Dhabi, has reported a year-on-year increase in net profit of 316% for FY 2023. The company’s net profit has reached AED687 million ($187 million).

Emirates Stallions Group has announced the results for the 12 months ending on December 31, 2023.
the company managed to increase its revenue to AED609 million, with a focus on high-value projects that contributed to the revenue stream, this has resulted in a yearly increase.

ESG is a company that provides manpower supply, workers and staff accommodation solutions, as well as landscaping and agriculture, real estate development, engineering project management and associated services to construction, development and hospitality.

In addition to its net profit, ESG reported a gross profit of AED168 million, which is a 99% increase over the previous year.

The group’s financial position of its stakeholders received a boost, as ESG’s total equity surged to AED2.29 billion, a growth of 202% as compared to December 2022.

Additionally, the company’s book value per share witnessed increases, reaching AED9.1, which is a year-on-year increase of 202%.

Ali Khorma, CEO at ESG Emirates Stallion Group said: “At ESG, we are not just focused on expanding our portfolio but are deeply committed to operational profitability within our existing as well as newly introduced verticals. Our strategy is to leverage our strengths, innovate continuously, and deliver superior value to our stakeholders. This approach has been instrumental in our ability to achieve such significant milestones.”

He also noted that: “Looking ahead, ESG remains committed to building on its current momentum, with a focus on sustainable growth, operational excellence, and strategic expansion to continue delivering exceptional value to both its shareholders and clients alike,”