IHC H1 profit nearly triples to Dh26.2 billion, revenue rises 34.5%

Abu Dhabi: International Holding Company reported a 195.6% increase in profit after tax to Dh26.2 billion during the first half of 2026, supported by growth across several operating sectors, investment income and active portfolio management.

Revenue increased 34.5% year on year to Dh64.9 billion during the six months ended June 30, while gross profit rose 41% to Dh16.8 billion.

Profit before tax climbed 180.2% to Dh28 billion, while earnings per share increased to Dh8.21 and return on equity improved to 22.4%.

Profit after tax stood at Dh8.9 billion during the corresponding period of 2025.

Real Estate and Construction remained IHC’s largest revenue-generating segment, with revenue increasing 10.4% to Dh20.9 billion amid continued development activity and new project launches.

Marine and Dredging generated Dh14.7 billion in revenue, an increase of 4.5%, supported by the execution of projects in regional and international markets.

Energy and Mining revenue reached Dh12.3 billion, driven by the expansion of minerals, metals, hydrocarbons and crude-oil trading activities.

Hospitality and Leisure revenue more than doubled to Dh5.2 billion, while Financial Services revenue increased 62.8% to Dh3 billion.

Food revenue grew 26.9% to Dh3.4 billion, while Technology revenue increased 35.2% to Dh1.9 billion during the six-month period.

Profit after tax also benefited from investment income generated within the Financial Services segment, in line with IHC’s model of identifying opportunities, actively managing investments and completing strategic transactions at different stages of the investment cycle.

Total assets increased 9.6% to Dh469.7 billion by the end of June, while total equity rose 7% to Dh268.3 billion.

Owner’s equity increased 8.6% to Dh165.9 billion, and cash and bank balances stood at Dh72.9 billion.

Total debt rose to Dh99.8 billion following financing raised to support the group’s investment programme, including two hybrid-note issuances of $1 billion each.

IHC deployed approximately Dh14 billion into associates, joint ventures, financial assets and real estate properties during the first half.

The group maintained a quick ratio of 2.7 times and a debt-to-equity ratio of 0.4 times following the increase in investment and financing activity.

“We recognise that strong financial results bring greater responsibility, and we remain focused on maintaining discipline, protecting the strength of our balance sheet and investing with a long-term perspective,” Shueb said.

“Our priority is not growth for its own sake. It is to deploy capital selectively into businesses and partnerships where IHC can contribute capabilities, create sustainable value and support the economic priorities of the markets in which we operate.”

IHC expanded its exposure to global technology companies during the period, including SpaceX, OpenAI, Anthropic and Cerebras, as part of its investments in artificial intelligence, advanced computing and frontier technologies.

The company also entered a collaboration agreement with the US International Development Finance Corporation to support joint investments across emerging markets.

IHC secured approvals for its $1 billion investment in India’s Sammaan Capital, acquiring a 41.5% stake and gaining board rights. The group also completed the acquisition of First Women Bank Limited, marking its entry into Pakistan’s financial sector.

Judan Financial acquired a 50.1% stake in Alpha Wave Global, an investment company with more than $35 billion in assets under management.

International Resources Holding entered 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 for $2.25 billion.

The Traverse Midstream transaction, which marked ePointZero’s entry into the US natural gas market, was completed after the end of the first half.

International Resources Holding also secured a 20-year liquefied natural gas supply agreement through the Amigo LNG project in Mexico.

IHC commenced the first Dh1.8 billion tranche of its second Dh5 billion share-buyback programme in June.

The programme forms part of the group’s capital-allocation strategy, which balances investment in future growth with balance-sheet strength and shareholder returns.

IHC said it would remain selective in deploying capital during the second half of 2026, focusing on businesses and sectors where it has strong management teams and a clear route to sustainable value creation.