Company reports 18% growth in revenues and 16% growth in EBITDA
SENAAT, the large, state-owned industrial investment holding company in Abu Dhabi and the UAE, has recently announced that its total EBIDTA increased to AED 2.1bn (US$ 572mn) in 2017, a 16% increase compared to 2016. The company’s financial results also stated that revenues grew from AED 13.4bn (US$ 3.65bn) in 2016 to AED 16bn (US$ 4.36bn) in 2017, an 18% increase.
In addition, the financial results of SENAAT confirmed total assets reached to AED 27.2bn (US$ 7.41bn) at year-end, representing a compounded annual growth rate of 18.3% since SENAAT’s inception in 2004.
“In FY 2017, SENAAT invested US$ 327bn in assets. The company continues to self-finance its growth, and reinvesting profits to further develop its asset base. This reflects the company’s leading role in developing the industrial sector in Abu Dhabi,” commented Hussain Jasim Al Nowais, Chairman of SENAAT.
“Our portfolio companies demonstrated their ability to achieve efficiencies, create innovative solutions and develop skills for our continuously changing market. This helped to increase productivity and lower costs,” stated Eng. Jamal Salem Al Dhaheri, CEO of SENAAT, in a press statement
