IHC’s assets climb to Dh469.7 billion as cash reserves reach Dh72.9 billion.
Abu Dhabi: International Holding Company (IHC) reported a 195.6% surge in profit after tax to Dh26.2 billion in the first half of 2026, driven by strong performance across multiple business sectors, higher investment income, and active management of its portfolio.
Revenue climbed 34.5% year on year to Dh64.9 billion for the six months ended June 30, while gross profit increased 41% to Dh16.8 billion.
Profit before tax rose 180.2% to Dh28 billion, while earnings per share increased to Dh8.21 and return on equity improved to 22.4%.
For comparison, profit after tax stood at Dh8.9 billion during the same period in 2025.
The rise in profitability also reflects IHC’s investment holding model, where returns are supported by a combination of operating performance, disciplined capital deployment, and active portfolio management, said Syed Basar Shueb, Chief Executive Officer of IHC.
Property and construction remain key contributors
Real Estate and Construction continued to be IHC’s largest revenue-generating segment, with revenue rising 10.4% to Dh20.9 billion, supported by ongoing development activity and the launch of new projects.
The Marine and Dredging segment recorded revenue of Dh14.7 billion, up 4.5%, driven by project execution across regional and international markets.
Revenue from Energy and Mining reached Dh12.3 billion, supported by expansion across minerals, metals, hydrocarbons, and crude oil trading activities.
Hospitality and Leisure revenue more than doubled to Dh5.2 billion, while Financial Services revenue rose 62.8% to Dh3 billion.
Food revenue increased 26.9% to Dh3.4 billion, and Technology revenue grew 35.2% to Dh1.9 billion during the six-month period.
Profit after tax was also supported by investment income from the Financial Services segment, reflecting IHC’s approach of identifying opportunities, actively managing its investments, and executing strategic transactions across different stages of the investment cycle.
Assets rise to Dh469.7 billion
IHC’s total assets increased 9.6% to Dh469.7 billion by the end of June, while total equity grew 7% to Dh268.3 billion.
Owner’s equity rose 8.6% to Dh165.9 billion, while cash and bank balances reached Dh72.9 billion.
Total debt increased to Dh99.8 billion following financing activities to support the group’s investment strategy, including two hybrid note issuances worth $1 billion each.
During the first half of the year, IHC invested approximately Dh14 billion across associates, joint ventures, financial assets, and real estate holdings.
Despite the increase in investment and financing activity, the group maintained a quick ratio of 2.7 times and a debt-to-equity ratio of 0.4 times.
“Strong financial performance comes with greater responsibility. We remain committed to maintaining discipline, preserving the strength of our balance sheet, and making investments with a long-term outlook,” Shueb said.
“Our focus is not growth simply for the sake of expansion. We aim to allocate capital selectively to businesses and partnerships where IHC can add value, leverage its capabilities, create sustainable returns, and support the economic priorities of the markets in which we operate.”
International investment platform expands
During the period, IHC increased its exposure to global technology companies, including SpaceX, OpenAI, Anthropic, and Cerebras, as part of its broader investment strategy focused on artificial intelligence, advanced computing, and emerging technologies.
The company also signed a collaboration agreement with the US International Development Finance Corporation to explore and support joint investment opportunities across emerging markets.
IHC received approval for its $1 billion investment in India’s Sammaan Capital, through which it acquired a 41.5% stake along with board representation rights. The group also completed the acquisition of First Women Bank Limited, expanding its presence in Pakistan’s financial services sector.
Judan Financial acquired a 50.1% stake in Alpha Wave Global, an investment firm managing more than $35 billion in assets.
International Resources Holding formed a 50-50 joint venture with Adani for an $11.5 billion integrated aluminium project in Odisha, while ePointZero agreed to acquire US-based Traverse Midstream Partners in a transaction valued at $2.25 billion.
The Traverse Midstream transaction, which marked ePointZero’s entry into the US natural gas market, was completed after the close of the first half of the year.
International Resources Holding also secured a 20-year liquefied natural gas supply agreement through the Amigo LNG project in Mexico.
Share buyback programme begins
IHC launched the first Dh1.8 billion tranche of its second Dh5 billion share buyback programme in June.
The initiative is part of the group’s broader capital allocation strategy, which aims to balance investment in future growth opportunities with maintaining financial strength and delivering returns to shareholders.
IHC said it will continue to take a selective approach to capital deployment in the second half of 2026, prioritising businesses and sectors where it has experienced management teams and a clear pathway to creating sustainable long-term value.
