Dubai - Mubasher: Majid Al Futtaim reported a revenue of AED 18 billion in the first half (H1) of 2022, an increase of 15% when compared to H1-21.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose by 18% in H1-22 to AED 1.9 billion, showcasing the company’s solid operational performance, according to a press release on Wednesday.
In the meantime, the group’s total assets reached around AED 62.9 billion during H1-22, and sales in digital grocery retailing grew by 73% yearly.
Moreover, the firm registered strong performance across hotels, shopping malls, and communities backed by the ‘EXPO effect’.
CEO of Majid Al Futtaim – Holding, Alain Bejjani, said: “A strong, customer-focused strategy supported by unrivalled data and analytics capabilities has enabled Majid Al Futtaim to deliver sustained growth through H1-22. Our efforts have been further amplified by MENA’s steady progress in moving beyond post-pandemic recovery as we collectively turn our efforts toward economic expansion and regional prosperity."
For the 11th year in a row, the company maintained a ‘BBB’ credit rating in the latest S&P and Fitch Ratings reports, with a stable outlook, the highest rated privately-owned company in the region.
