Multiply Group, the Abu Dhabi-based investment holding company, has announced a net profit of AED1.95 billion for the third quarter of 2025. The figure includes AED203 million in unrealised revaluation losses, attributed to market fluctuations and one-off transactions. Despite these, the Group achieved robust operational and financial performance during the quarter.
Robust Growth Across Core Portfolios
Adjusted EBITDA rose sharply to AED597 million, up from AED382 million a year earlier. Meanwhile, revenue increased 191% year-over-year to AED 1.22 billion, driven by both organic growth and the consolidation of Tendam. The company maintained a 58% gross profit margin, reflecting strong operational efficiency.
Multiply recorded a net gain of AED2.7 billion from the sale of PAL Cooling, partially offset by an AED0.8 billion impairment against Kalyon Enerji. Portfolio EBITDA grew 124% , demonstrating the strength of Multiply’s diversified holdings. The Group’s Multiply+ portfolio closed the quarter with a valuation of AED31.5 billion, nearly doubling from its initial AED14.7 billion investment.
Strategic Expansion and Long-Term Growth Plans
During the quarter, the Board approved a share swap transaction to acquire 2PointZero and Ghitha Holding, forming a AED120 billion diversified investment group with operations spanning 85 countries. The new entity will cover multiple sectors, including energy, food, logistics, mining, media, apparel, mobility, packaging, and beauty.
Multiply’s expansion momentum continued as Emirates Driving Company, a subsidiary, acquired a 22.5% stake in Mwasalat Holding, enhancing its mobility footprint. The Group also finalized the AED5.6 billion acquisition of Tendam, a leading European fashion retailer, and secured a 60.8% stake in packaging firm ISEM.
Strong Financial Position and Future Outlook
With AED2.5 billion in cash reserves, Multiply Group remains well-positioned for continued investment and innovation. The company is advancing digital transformation and operational efficiency across its core verticals, reinforcing its role as a key driver of sustainable growth from Abu Dhabi.
