Abu Dhabi: Waha Capital posted 28% higher net profits attributable to the shareholders at AED 440.10 million in 2023, compared to AED 344.37 million in 2022.

The company registered net operating income valued at AED 1.22 billion as of 31 December 2023, an annual hike of 70% from AED 720.31 million, according to the consolidated results.

Basic and diluted earnings per share (EPS) attributable to the owners climbed to AED 0.23 in 2023 from AED 0.18 a year earlier.

Total assets hit AED 13.54 billion last year, marking a leap from AED 9.49 billion in 2022.

Financials for Q4

In the fourth quarter (Q4) of 2023, Waha Capital’s net profit increased by 39% year-on-year (YoY) to AED 218 million from AED 157 million.

Operating income enlarged by 94% to AED 543 million in Q4-23 from AED 280 million in Q4-22.

Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, commented: “Throughout 2023, the company made significant progress toward its long-term objectives, with its core businesses well-positioned to capitalise on opportunities that may emerge in 2024.”

“Waha Investment has maintained the track record of its flagship funds, attracting AED 3.10 billion in third-party capital from international institutional investors,” Al Muhairi noted.

He indicated: “The company’s total assets under management increased by AED 4 billion to total AED 10.50 billion by the end of the year.”

“In 2024, Waha Capital will maintain its pragmatic and opportunistic approach, leveraging its considerable expertise and network to deliver attractive returns to shareholders and investors,” the Chairman added.

In the first nine months (9M) of 2023, the net profits attributable to the owners of Waha Capital increased by 19% to AED 222.48 million from AED 186.96 million in 9M-22.

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