ABU DHABI, 28th October, 2025 (WAM) -- Multiply Group, the Abu Dhabi-based investment holding company, reported an adjusted EBITDA of AED597 million in Q3 2025, compared to AED382 million in Q3 2024.
The Group recorded a net profit of AED1.95 billion, including AED203 million in unrealised revaluation losses driven by market fluctuations and one-off transactions. Multiply completed the sale of PAL Cooling, generating a net gain of AED2.7 billion, while booking an AED0.8 billion impairment loss against Kalyon Enerji.
Revenue rose 191 percent year-on-year to AED1.22 billion, supported by organic growth and the consolidation of Tendam, maintaining a strong gross profit margin of 58 percent. Adjusted EBITDA from portfolio companies grew by 124 percent.
The Multiply+ portfolio closed the quarter with a valuation of AED31.5 billion, up from an initial AED14.7 billion investment, underpinned by robust fundamentals despite market fluctuations.
The Board has approved a proposal to acquire 2PointZero and Ghitha Holding through a share swap transaction that will form an AED120 billion diversified investment group across energy, food, logistics, packaging, mining, apparel, media, mobility and beauty sectors, with operations in 85 countries.
During the quarter, Emirates Driving Company, a subsidiary of Multiply, acquired a 22.5 percent stake in Mwasalat Holding, expanding into the mobility sector. Multiply also announced the acquisition of a 60.8 percent stake in European packaging firm ISEM and completed its AED5.6 billion acquisition of Tendam, a leading European fashion retailer.
Multiply Group’s balance sheet remains strong, with AED2.5 billion in cash reserves. The Group continues to execute its long-term growth strategy through its core verticals, advancing digital transformation and operational efficiency while reinforcing its position as a key driver of sustainable investment and innovation from Abu Dhabi.