Emirates Stallions Group (ESG), a subsidiary of International Holding Company, has reported its 2024 financial results, showcasing exceptional growth. Revenue increased by 109%, rising from AED 609.36M in 2023 to AED 1.27B, reflecting strong performance across Workforce Solutions, Construction, and Real Estate sectors.
The Group’s gross profit surged by 160% to AED 436.32M, compared to AED 167.6M in the prior year, driven by operational efficiencies and effective cost management. Operational profit before tax also grew by 75%, reaching AED 228.86M, up from AED 131.02M in 2023.
In line with its sustainable growth strategy, ESG achieved significant milestones, including key acquisitions. The Group secured majority stakes in Vision Furniture & Decoration Factory and Decovision, leaders in luxury furniture and interior decoration, as well as Sawaeed Holding, a prominent provider of manpower and labour accommodation solutions.
Matar Suhail Ali Al Yabhouni Aldhaheri, Chairman of ESG, highlighted the year’s success, stating: “2024 has been pivotal, demonstrating our resilience and commitment to growth, innovation, and sustainability, while reinforcing ESG’s role in the UAE’s economic progress.” CEO Kayed Ali Khorma added: “Our performance reflects the dedication of our team and ESG’s adaptability. We remain focused on delivering exceptional value and advancing our growth strategy.”