Multiply Group in Abu Dhabi Grows Revenue by 50% in Q1, Reaching $159 Million
Multiply Group, based in Abu Dhabi, said its revenue grew by 50% in the first quarter of 2025, reaching $159.3 million (AED 585 million). This growth came from strong performance in all main business areas and adding new companies they recently bought.
Multiply Group’s Q1 Results
Multiply Group reported a net profit of $57.2 million (AED 210 million) for the first quarter. This includes $36.2 million (AED 133 million) in paper losses caused by changes in market value, according to their earnings report released on Monday.
Net profit from their main businesses grew by 26% compared to last year. This was mainly thanks to strong growth in their beauty and wellness division, which more than doubled its profit.
Their media and communications division also did well, with a 38% increase in revenue, helped by both new business growth and acquisitions.
However, the group reported a $6.8 million (AED 25 million) loss from its Kalyon joint venture. This was due to special accounting rules for high inflation and the writing down of tax assets.
EBITDA (earnings before interest, taxes, and other adjustments), excluding market value changes, rose 19% to $155.8 million (AED 572 million), showing strength in their core businesses. They kept a strong gross profit margin of 49%, meaning they stayed profitable across their different sectors.
Their public market investments were valued at $8.7 billion (AED 32 billion) at the end of the quarter.
Big Number
As of April 28, 2025, Multiply Group’s total market value is $6.6 billion (AED 24.4 billion).
Background
Earlier this month, Multiply’s media division signed an agreement with Riyadh-based Al Arabia Outdoor Advertising. They plan to create a new joint company focused on investing in outdoor advertising worldwide, outside the Middle East.
In February, Multiply also partnered with CVC and PAI Partners to buy a 67.9% stake in Castellano Investments, which owns Tendam Brands. After this deal, Multiply became the main owner, alongside Llano Holdings and Arcadian Investments.
This move brought Multiply into the retail and clothing industry, with Tendam leading the new business division. It also marked Multiply’s first major investment in Europe.
Published: 29th April 2025
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