E7 Group today announced its results for the nine-month period ended 30th September 2024, reporting net profit before tax of AED180.8 million, up 82 percent YoY.

In a statement on Tuesday, the company reported that nine-month net profit after tax grew 65 percent to AED164.5 million, as the margin expanded to 33 percent from 21 percent year-on-year.

Ahmed Al Shamsi, Chairman of E7 Group, said, "E7 delivered another excellent quarter, demonstrating clear progress in the execution of our growth strategy. We continue to see strong growth momentum in niche segments like security solutions, where we plan to invest in significant capacity expansion over the next 12 months, and sustainable packaging."

Ali Saif Ali Abdulla Alnuaimi, Group Chief Executive Officer of E7 Group, said, "Our strong third-quarter results reflect healthy performance across all our business segments. We continue to strengthen our portfolio of long-term client contracts, which enhances the visibility of future revenues."

Revenues in the third quarter of 2024 reached AED190.9 million, up 7 percent year-on-year. This growth was supported by new client wins in E7's packaging business.

For the first nine months of 2024, E7's revenue reached AED491.7 million, up 6 percent from the prior year.

EBITDA margin during the period was stable at 31 percent, reflecting the benefit of long-term supply agreements and consistently healthy levels of capacity utilisation. In 9M 2024, EBITDA increased by 5 percent to AED129.9 million.

Cash and bank balances of AED1.44 billion at the end of 9M 2024 positions E7 well to invest in strategic growth opportunities.