Press releases, Reports & Disclosures for ESG EMIRATES STALLIONS GROUP P.J.S.C

The ESG Emirates Stallions Group PJSC reported a sales revenue of AED 609.36 million for the year ended 31st December 2023, a significant increase from AED 357.43 million in 2022. The company also saw a considerable growth in net profit, reporting AED 686.63 million in 2023 compared to AED 165.23 million in 2022. The financial results also included a gain on disposals of a subsidiary and an associate amounting to AED 136.86 million and AED 417.28 million respectively. The company's management reaffirmed its commitment to enhancing the development of the company's business and activities for sustainable growth.

Emirates Stallions Group (ESG) has announced a record 316% growth in net profit for 2023, reaching AED 687 million. The company also reported a 99% increase in gross profit to AED 168 million, and a 70% year-on-year increase in revenue to AED 609 million. The company's total assets grew by 168% to AED 3.06 billion. ESG attributes these financial achievements to strategic portfolio expansion, key acquisitions, improved operational efficiencies, and a focus on high-value projects. The chairman of ESG, Matar Suhail Ali Al Yabhouni Aldhaheri, highlighted the company's commitment to optimizing operations and pursuing excellence across all sectors.

Emirates Stallions Group (ESG) has acquired a 60% majority stake in AFKAR Financial & Property Investments. This acquisition is part of ESG's expansion into the real estate and retail sectors. AFKAR is an Abu Dhabi-based company with a diverse portfolio, including commercial enterprise investment, real estate investment and development, and the retail trade of household and office furniture. The company has shown significant growth in the past three years with a 13% increase in assets and a 10% rise in revenue. ESG's CEO, Kayed Khorma, stated that this strategic acquisition aims to diversify the group's portfolio and expedite the development of their business plan, aiming to deliver a higher Return on Investment (ROI) and continue to add value for their investors.

Emirates Stallions Group (ESG), a global investment, engineering, and construction services business, has acquired a majority stake in United International Group (UIG), a leading provider of qualified labour and comprehensive manpower solutions in the UAE. The acquisition is expected to enhance ESG's manpower portfolio, aiming to deploy over 30,000 skilled professionals by the end of 2024. This move is part of ESG's strategic plan to capture a significant role in the rapidly growing manpower market in the region and expand its manpower services in some GCC countries.