• Investment further diversifies E7 Group’s product proposition and cements the Group’s growing market position in high-value security solutions
  • Follows E7’s expansion into new markets in Q1 2024 and the launch of its Groupwide growth strategy

Abu Dhabi, United Arab Emirates: E7 Group PJSC (“E7” or “the Group”), the UAE’s premier provider of commercial printing, security solutions, sustainable packaging, and distribution services (ADX: E7), today announced plans to invest AED 182 million (approximately USD 50 million) in ambitious organic growth initiatives across its security solutions business segment, E7 Security.

E7 Security, the Group's dedicated security solutions segment, is a leading provider of technology-enabled security solutions. It designs and produces national IDs, passports, and various security documents and cards for governments, telecommunications, banking, and other sectors.

E7’s planned investments will bolster its passport manufacturing capacity and enable its entry into the digital tax stamps segment. The tax stamps industry is a high-growth area globally, and E7 intends to support governments worldwide in curbing the illicit trade of excisable goods and enhancing revenue generation. Tax stamps support a range of areas, including the drive to eliminate illicit trade in tobacco products, with 68 countries party to the WHO Framework Convention on Tobacco Control’s supplementary Protocol to Eliminate Illicit Trade in Tobacco Products. E7’s planned production of digital tax stamps, scheduled to commence in 2026, aligns with its stated strategy to diversify further in the high-growth, high-margin security solutions segment.

E7 Group will also invest in increasing its passport production capacity fivefold, with the planned capacity expansion to come online in 2026 as it continues to secure new contracts and broaden its market reach. The Group continues to leverage its solid client base and technical expertise to grow its passport and identity solutions customer base. Alongside the significant capacity expansion, E7 Group continues to embed the latest security features in its passport documents, meeting the increasing demands of clients worldwide and keeping pace with international security standards.

Today’s announcement follows the recent signing of a strategic partnership with Diletta, a prominent German manufacturer of identity and security systems for government and national institutions. In Q1 2024, E7 Group signed new customer contracts worth a combined AED 77 million.

Ali Saif Ali Abdulla Alnuaimi, Chief Executive Officer of E7 Group, said: “The significant planned investment in E7 Security reaffirms our commitment to our long-term growth story and is evidence of our continued innovation and value creation in E7 Security, one of E7 Group’s core business segments. The AED 182 million will be invested in areas with strong growth potential, adding capacity and capability in existing product lines and enabling us to bring new products to market. The security solutions industry continues to deliver strong growth globally, with our technical expertise and track record opening doors across geographies. We’re well positioned to achieve our ambitious growth objectives organically and through strategic acquisitions, which we continue to explore.”

In FY 2023, E7 reported an 11% year-on-year increase in revenue, reaching AED 651.9 million, with net profit[1] increasing by 106% to AED 140.3 million. As of 31 March 2024, E7 had cash and bank balances of AED 1.27bn, providing a robust platform to invest in growth initiatives across the Group.

-Ends-

About E7 Group

Established in 2006 in Abu Dhabi, E7 Group (E7) is a leading company operating across four key segments: security solutions, commercial printing, distribution, and sustainable packaging. E7 has a strong track record of utilising best-in-class technology to create customised solutions for customers. Today, the company is expanding its services and capabilities in the security solutions and sustainable packaging domains, further strengthening its position as an integrated services provider to customers, including governments, enterprises and financial institutions. For more information, visit www.e7group.ae.

IR and Media contacts:
Andrea Benton
Head of Corporate Communications / Investor Relations
andrea.benton@E7group.ae
Stephen Smith
Senior Vice President – Teneo
E7group@teneo.com