Abu Dhabi’s Multiply Group Accelerates Growth with Key Acquisitions and Strong Financial Performance

 Strategic Expansion in 2024

Abu Dhabi’s Multiply Group strengthened its market position with three major acquisitions in key sectors. The company expanded across mobility, media, and beauty, driving synergies and unlocking new revenue streams.

 Key Acquisitions Boost Market Leadership

Abu Dhabi’s Multiply Group acquired 100% of BackLite Media, enhancing its digital advertising capabilities. Emirates Driving Company secured a 51% stake in Excellence Premier Investment LLC. Omorfia Group, a 51%-owned subsidiary, fully acquired The Grooming Company Holding (TGCH).

Strong Financial Performance in 2024

Multiply Group reported AED 1.04 billion in net profit, excluding fair value changes. Full-year revenue surpassed AED 2 billion, marking a 56% year-on-year growth. EBITDA grew by 15%, reaching AED 1.9 billion, driven by efficiency and expansion.

Focus on Operational Efficiency

Multiply Group streamlined procurement, consolidated roles, and eliminated unnecessary business layers. The company modernized its technology infrastructure and introduced innovative revenue-generating solutions. These measures resulted in AED 50 million in efficiency gains, surpassing the AED 45 million target.

Technology and AI-Driven Strategy

Technology played a crucial role in Multiply Group’s efficiency strategy. AI-driven solutions optimized operations and boosted productivity across subsidiaries. This approach strengthened financial performance and positioned the company for future growth.

Leadership’s Vision for Growth

Chairman Syed Basar Shueb emphasized decisive action and sector expertise in driving growth. He highlighted Multiply Group’s commitment to AI-driven efficiencies and high-impact expansion. CEO Samia Bouazza reaffirmed the company’s focus on acquisitions and operational optimization.

Future Growth Plans

Multiply Group plans to deploy AED 4 billion for strategic investments. The company aims for another year of double-digit EBITDA growth. Leadership remains focused on sustainable value creation and market leadership.

Shareholder Approvals at GAM

Shareholders approved all agenda items, including the financial report and board activities. The board and auditors received clearance from liabilities for the fiscal year. The company appointed auditors for the current financial period.

Conclusion

Abu Dhabi’s Multiply Group remains committed to strategic expansion and operational excellence. Strong financials, technology-driven efficiency, and key acquisitions position the company for sustained success.