Multiply Group in Abu Dhabi Grows Revenue by 50% in First Quarter, Reaching $159 Million
Multiply Group, based in Abu Dhabi, said its revenue grew by 50% in the first quarter of 2025 compared to the same time last year, reaching $159.3 million (AED 585 million). This growth came from strong performance in all main business areas and from including its recent acquisitions.
Multiply Q1 Results
Multiply Group made a net profit of $57.2 million (AED 210 million) in the first quarter. This includes $36.2 million (AED 133 million) in paper losses because of changes in market value that haven’t been realized yet.
The company’s operating businesses did well, with profits growing by 26% compared to last year. The beauty and wellness segment performed especially well, with profits more than doubling.
The media and communications division grew by 38%, thanks to both natural growth and acquisitions.
However, Multiply had a $6.8 million (AED 25 million) loss from its partnership with Kalyon. This was due to high inflation in that region and accounting adjustments for taxes.
EBITDA (a measure of profit before some costs), not counting market value changes, went up 19% to $155.8 million (AED 572 million). This growth came from the strong performance of its main businesses. The company kept a high gross profit margin of 49%, showing strong overall profitability.
Multiply’s public investments were valued at $8.7 billion (AED 32 billion) at the end of the quarter.
Other Highlights
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Multiply Group’s market value is $6.6 billion (AED 24.4 billion) as of April 28, 2025.
Background Information
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In April, Multiply’s media division signed an agreement with Al Arabia Outdoor Advertising in Riyadh to create a joint venture for global outdoor advertising. This will help them explore acquisitions outside the Middle East.
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In February, Multiply teamed up with CVC and PAI Partners to buy a 67.9% stake in Castellano Investments, the parent of Tendam Brands. This move made Multiply the majority owner alongside Llano Holdings and Arcadian Investments.
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This deal brought Multiply into the retail and clothing business, with Tendam as the main brand. It was Multiply’s first big investment in Europe.
Published: 3rd May 2025
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