Multiply Group, an Abu Dhabi-based investment holding firm, today announced its Q2 2025 financial results reporting an EBITDA excluding fair value changes of AED395 million (AED403 million in Q2 2024).
Adjusting for the impact of the Kalyon Enerji joint venture (realising a share of loss as a result of foreign exchange losses arising from the revaluation of EURdominated loans), the Group’s EBITDA rose 38% year-on-year (YoY) for Q2 2025.
The net profit from subsidiaries increased 52% underpinned by solid growth across verticals. Reported profit of AED532 million includes AED318 million in unrealised gains from revaluation, driven by periodic market fluctuations.
The Group continues to focus on integrating operations across its verticals, with an emphasis on digital transformation and operational efficiency. These efforts have contributed to strong revenue momentum.
The Group revenue increased by 39% YoY to AED503 million, driven by growth across all verticals, the full-quarter consolidation of The Grooming Company Holding and the acquisition of Excellence Driving. The blended gross profit margin remained healthy at 52%, reflecting continued profitability across the core portfolio.
The Group’s net profit from operating businesses increased by 52% on the back of the Beauty vertical more than doubling net profit and the Mobility vertical increasing net profit by 48% as a result of organic and inorganic growth while Media vertical grew by 23%.
The Group recorded a share of loss from Kalyon JV amounting to AED54 million in Q2 2025 (Q2 2024 – AED78 million gain) as a result of
the foreign exchange losses from the revaluation of EUR-denominated loans on the back of a stronger Euro.
The Group’s balance sheet remains robust, with cash balance of AED1.85 billion. Execution of its longterm strategy continues to deliver results, as the Group builds a diversified portfolio across core verticals while pursuing high-return investments under Multiply+.
Under Multiply+, the Group’s public market portfolio closed the quarter with a valuation of AED32 billion, compared to an initial investment of AED15 billion. Despite market fluctuations affecting the fair value of some assets, performance across the portfolio remains strong as does the underlying
long-term potential from targeted investments.
