Alpha Dhabi Holding PJSC

Alpha Dhabi Holding reported a record net profit of AED 13.3 billion for the full year 2023, up 25% year-over-year. The company attributed this growth to strategic choices, prudent investments, and alliances that expanded its market footprint and maximized shareholder returns. The firm's revenue also rose by 14% to AED 45.4 billion. Key investments across diversified sectors such as construction, industrial innovation, luxury hospitality, and property ventures positioned Alpha Dhabi as a regional leader. The company's total asset base stood at AED 140.4 billion, with a cash reserve of AED 20.2 billion, reflecting strong financial health and strategic asset management.

ADNOC Drilling and Alpha Dhabi have established a joint venture (JV) in the Abu Dhabi Global Market to pursue global investments in energy technology and enhance tech-enabled energy services. As part of the initial investment, Alpha Dhabi has contributed its 25% stake in Gordon Technologies, a leading US-based provider of 'measurement while drilling' technology, valued at around $180 million. The collaboration is expected to accelerate domestic economic development and diversification, bring value to shareholders, and support ADNOC Drilling's long-term dividend growth.

ADNOC Drilling and Alpha Dhabi have agreed to establish a strategic joint venture (JV) to invest up to $1.5 billion in technology-enabled companies in the oilfield services and energy sectors. ADNOC Drilling will own 51% of the JV, with Alpha Dhabi holding the remaining 49%. The JV will be jointly controlled by both entities and will invest in businesses globally across the oilfield services and energy value chain. This partnership aims to further develop and scale up ADNOC Drilling’s integrated drilling and oilfield services offering, enhance operational efficiencies, and support ongoing decarbonization efforts.

The financial results for Alpha Dhabi Holding for the third quarter of 2023, ending on 30th September, were released on 2nd November 2023.

The text appears to be a management discussion and analysis report from Alpha Dhabi Holding PJSC for the period ending 30th September 2023. The specific details of the report, however, are not provided in the prompt. The report was dated November 2, 2023.

The text contains a review report and interim condensed consolidated financial statements for ALPHA DHA BI HOLDING PJSC. These documents cover the nine-month period ending on 30th September 2023 and are unaudited.