ABU DHABI - ADNH Catering plc has announced its financial results for the three-month and nine-month periods ended 30th September 2024. On a pro forma basis, ADNH Catering reported revenue of AED1.2 billion during the first nine months of 2024, resulting in EBITDA of AED167 million at an EBITDA margin of 13.7%.

Pro forma net profit of AED110 million at a robust net profit margin of 9.0% reflected ADNH Catering's efficient supply chain management, operational efficiencies and proactive contract management.

Commenting on the results, Clive Cowley, CEO of ADNH Catering, said, "We are pleased to report our first set of results since listing on ADX, with a solid revenue base, sound EBITDA margins and robust free cash flow for the nine months ended September 2024.

"Over the course of this period we have achieved healthy growth in contracts, particularly for our support services segment, underscoring our commitment to strategic expansion across key verticals and geographies."

ADNH Catering has implemented a dividend policy that aligns with its financial performance, with semi-annual cash dividend payments. For the financial year 2024, the Company intends to distribute a cash dividend of AED60 million in April 2025.

In 2025, the Company aims to pay a total cash dividend of AED180 million. In 2026, ADNH Catering plans to increase the annual dividend by at least 5% over the previous year, demonstrating management and the Board's confidence in its future earnings and cash flow generation.

From 2027 onwards, the Company intends to maintain a progressive dividend policy linked to financial performance, with semi-annual cash dividend distributions.

ADNH Catering maintains a positive outlook on its growth prospects, as its expanding addressable market offers compelling opportunities to increase market share. The Company focuses on maintaining high client retention rates above 95% over the near- and medium-term as it strengthens its position in key sectors.

With a disciplined approach to scaling operations, ADNH Catering aims to drive revenue growth by 5-7 percent annually from 2025 over the near- and medium-term, while achieving an EBITDA margin of 13-14 percent over the same periods.