Waha Capital's 2024 Net Profit Reaches AED 381 Million Amidst Robust Third-Party Capital Growth

2025-02-17 03:08:34

(MENAFN- The Arabian Post)

Waha Capital PJSC, an Abu Dhabi-listed investment management firm, has reported a net profit of AED 381 million for the fiscal year 2024, reflecting a return on average equity of 10%. This performance is attributed to increased fee income and gains on portfolio assets. The company's total income stood at AED 1.176 billion, slightly down from AED 1.222 billion in 2023.

A significant contributor to this achievement is the Waha Investment division, which recorded a net profit of AED 379 million. This surge is driven by robust recurring fee income, bolstered by a 25% growth in third-party assets under management , reaching AED 6.9 billion by year-end. These third-party assets now constitute nearly 58% of Waha Capital's total AUM, underscoring the company's success in attracting global institutional investors.

The Private Investments segment also performed well, generating a net profit of AED 116 million. This was largely due to the realization of gains from several portfolio assets. Meanwhile, Waha Land, the company's real estate arm, contributed AED 46 million in net profit, benefiting from increased leasing activities that enhanced income streams.

In the fourth quarter alone, Waha Capital reported a net profit of AED 99 million. By December 31, 2024, the company's total AUM had risen to AED 11.9 billion, a 13% increase from AED 10.5 billion at the end of 2023. This growth was primarily driven by substantial inflows from third-party mandates.

Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, highlighted the company's strategic focus on expanding third-party capital and enhancing portfolio value. He noted that the 25% increase in third-party AUM to AED 6.9 billion, representing 58% of total AUM, reflects Waha Capital's commitment to delivering consistent, market-leading returns for its investors.

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In addition to its financial achievements, Waha Capital secured a new US$400 million revolving credit facility during the year. This facility, extendable to US$500 million, offers a maturity extension of up to two years, thereby enhancing the company's financial flexibility and supporting its growth initiatives.

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