Middle East

IHC passes Dh100 billion of nine-month revenue as profit after tax rises 87 per cent to Dh32.5 billion

By Staff Writer  |  7 November 2026

Real estate and construction stayed the Abu Dhabi group's largest business at Dh33.3 billion of revenue, while energy and mining almost quadrupled on wider metals and hydrocarbon trading.

International Holding Company, the Abu Dhabi-listed group, reported revenue of Dh100.5 billion for the first nine months of 2026, up 33.2 per cent on the same period last year. Profit after tax rose 87 per cent to Dh32.5 billion, and profit before tax rose 84.2 per cent to Dh35.1 billion.

Gross profit increased 35.4 per cent to Dh25.3 billion. Earnings per share rose 129.6 per cent to Dh9.71, and return on equity was 20.8 per cent. Net profit attributable to the owners of the company rose 109 per cent to nearly Dh21.2 billion, according to the group's filing to the exchange.

Seven of the group's eight business segments grew their revenue, and international revenue more than doubled.

Construction and real estate still the largest segment

Real estate and construction produced Dh33.3 billion of revenue, up 12.8 per cent, and remained the group's largest contributor. Marine and dredging revenue rose 3.7 per cent to Dh22.4 billion. Energy and mining recorded the fastest growth, up 295.1 per cent to Dh19.3 billion, as the group widened its trading in minerals, metals and hydrocarbons.

Hospitality and leisure revenue rose 93.7 per cent to Dh7.8 billion and financial services 53.7 per cent to Dh4.4 billion. Food grew 25.7 per cent to Dh5.1 billion and technology 20.5 per cent to Dh2.9 billion.

Investment income within the financial services segment supported the profit figure. The seven segments outside financial services together increased their profit by 37.5 per cent to Dh12.6 billion.

Surpassing Dh100 billion in revenue is an important milestone, supported by growth across our operating businesses and the continued expansion of IHC's international investment platform.

Syed Basar Shueb, Chief Executive Officer, IHC

Balance sheet and capital deployed

Total assets rose 13.4 per cent to Dh485.9 billion and total equity 9.9 per cent to Dh275.4 billion. Cash and bank balances stood at Dh76.6 billion at the end of September, while net debt rose to Dh30.4 billion as the group borrowed to fund its investment programme.

The group put about Dh25 billion into associates, joint ventures, financial assets and investment properties during the period. Its quick ratio was 2.6 times and its debt to equity ratio 0.4 times. By 30 September it had bought back about 1.9 million shares for Dh705 million, under the first Dh1.8 billion tranche of its second Dh5 billion buyback programme, which began in June.

With a third of revenue still coming from real estate and construction, IHC's development and contracting businesses remain the base of the group, while energy and mining trading supplied more than half of this year's increase in revenue.