Abu Dhabi’s IHC profit nearly doubles to cross $2bn

Net profit of Abu Dhabi conglomerate International Holding Company (IHC) almost doubled in the first quarter of 2026, driven by top-line growth, margin improvement and strong contributions from all core segments.

Net earnings surged 98 percent year-on-year to AED8 billion ($2.2 billion), as revenues hit AED31 billion, up 33 percent year-on-year, the company said in a statement to the Abu Dhabi Securities Exchange (ADX). 

Revenue from energy and mining increased more than fourfold, while the hospitality and leisure segment contribution doubled compared to a year earlier.

However, operating costs increased, with selling, general and administrative expenses rising 69 percent year-on-year to AED3.4 billion.

Total assets rose to AED445 billion by the end of March, compared to AED429 billion by the end of 2025. Cash and bank balances stood at AED75 billion, supporting the group’s ongoing investment capacity.

“We continue to recycle capital into high-conviction opportunities, expand our global footprint, and accelerate the transformation of our platforms into globally competitive businesses,” said CEO Syed Basar Shueb. 

IHC is part of a business conglomerate led by its chair, Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and brother of President Sheikh Mohammed bin Zayed Al Nahyan.

Some of IHC’s direct subsidiaries listed on the ADX include Alpha Dhabi, 2PointZero Group, Emirates Stallions Group, Palms Sports, Al Seer Marine and EasyLease.

IHC shares closed 0.7 percent lower at AED391.9 on Wednesday. The stock is down 2 percent so far this year.

Further reading:

• IHC unit buys UK businessman’s hospitality assets for $1.4bn
• IHC gets green light for Sammaan Capital deal
• IHC sets up holding company Judan Financial with $237bn assets