Multiply Group, an Abu Dhabi-based holding company majority owned by International Holding Company, said it has set a strategic growth plan targeting more investment in cash-generating and transformative businesses in 2023, diversified across its verticals and investment arm.

 

Its investments span many industries including businesses such as Emirates Driving Company, PAL Cooling Holding, Omorfia Group, Viola Communications, HealthierU, International Energy Holding, Taqa, Dewa, Savage X Fenty, Firefly and Yieldmo.

 

Unveiling its plan, Multiply Group said it will further operationalise and grow its operating verticals while capitalising on investment gains.

 

In 2022, the group registered 38.6% weighted average growth across its operating verticals: mobility, energy and utilities, beauty and wellness, and media and communications. 

 

All current anchors are cash-rich, are sources of sustainable recurring income, and are aligned with Multiply’s plans to continue to grow organically and inorganically, it stated. 

 

Multiply Group pointed out that it was in advanced due diligence for several pipeline acquisitions, and was working to prepare two verticals to IPO-scale.

 

The Abu Dhabi group is exploring entry into new verticals, namely fashion. Meanwhile, the Group’s investment arm, Multiply+, recorded particularly strong investment returns.

 

Group CEO and Managing Director Samia Bouazza said: "2022 was a strong first year as a publicly listed company for Multiply Group. We recorded exceptional profits, predominantly driven by investment gains."

 

"Going forward, we will maintain our focus on growing and sustaining our core business profits, optimising the asset-rich balance sheet that we built in 2022 and, as valuations are softening, identifying new investments which will derive shareholder value," he noted.

 

Multiply’s diverse portfolio has reached a scale that positions it well to push ahead with its strategy to create medium to long-term value for its shareholders, stated Bouazza.

 

"This year our focus will be more on the business's sustainable organic growth; however, Multiply will continue exploring new investment opportunities in 2023, which will reflect positively, yet differently, on our results in the next 12 months as our business is maturing," he added.-TradeArabia News Service