Arab Today, arab today senaat’s revenues exceeds aed 14 bn and ebitda at aed 2 bn in 2015
Last Updated : GMT 23:52:05
Arab Today, arab today
Arab Today, arab today

Senaat’s revenues exceeds AED 14 bn and EBITDA at AED 2 bn in 2015

Arab Today, arab today

Arab Today, arab today Senaat’s revenues exceeds AED 14 bn and EBITDA at AED 2 bn in 2015

Senaat General Holding Corporation
Abu Dhabi - WAM

Senaat General Holding Corporation ("Senaat" or "the Group"), a leading industrial holding company in Abu Dhabi, has recorded a strong performance for the year, registering revenues of approximately AED 14.04 bn for FY 2015, a 5 per cent increase from AED 13.42 bn in revenues achieved in FY 2014.

The increase in revenues reflects a stronger commercial performance across the Group’s portfolio despite the slowing global economy and its effect on the regional and local markets. The Group also succeeded in maintaining its EBITDA at approximately AED 2 bn for FY 2015.

Senaat’s operational portfolio companies, which contributed to the Group’s financial performance include Al Foah, Arkan, Agthia, Ducab, Emirates Steel and NPCC. Senaat’s portfolio also include three companies, Talex, Al Gharbia Pipes Company and Ducab Aluminium Company, which are all currently under development. Once fully operational, the three companies are expected to contribute to the aggregate top-line results for the Group.

Commenting on the results, Senaat Chairman, Hussain Jasim Al Nowais, said, "FY 2015 marked a year of strong top-line growth for Senaat and its portfolio companies. Despite current economic challenges in the wider GCC region, our strategy of diversification and contribution to Abu Dhabi’s industrial sector is delivering results, as evident in the financial success across our portfolio of companies.

"Senaat has succeeded in establishing industrial leaders with significant competitive capabilities in different sectors such as building materials, oil and gas services, metals and food and beverage business."

Senaat as many other regional players in the industrial sector has and is facing regional and global economic challenges. This is more evident in the metals sector in the UAE where global competitors have been dumping products over the last year. However, thanks to adopting a smart and flexible strategy focused on diversification and opportunistic investment, Senaat was able to reduce the negative impact of the economy and achieve strong performance in 2015.

Al Nowais said, "These results are the outcome of our long-term strategy centred on contributing sustainably to the development of the industrial sector in Abu Dhabi. We will continue to establish industrial entities that will add to Abu Dhabi’s efforts to diversify away from hydrocarbon industries."

In 2015, Senaat launched the Al Gharbia Pipe Company, a joint venture with JFE Steel Corporation and Marubeni-Itochu Steel Inc. Al Gharbia will create the UAE’s first large-diameter, sour service capable, welded steel pipe project. The facility is expected to be operational in 2018 and will further enhance the Group’s capacity in the industrial sector and contribute to its revenues on a long-term basis.

Al Nowais continued, "Through strategic investments and the development of these portfolio companies, and a committed and highly involved senior management team, Senaat is well positioned for future growth. Senaat currently manages more than AED 26.8 bn of industrial assets on behalf of the Government of Abu Dhabi. Looking ahead to 2016, we will continue to implement strategies across our Group to optimise results, and allow us to adapt to the changing global economic environment."

To mitigate risk, Senaat has worked to develop a diverse portfolio of companies with interests across multiple industrial sectors, each contributing to the Group’s overall performance for the past fiscal year. Looking ahead, the Group will continue to retain its competitive edge and market position through developing value-add and niche products and to reduce the impact of challenging market conditions.

Source:WAM

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today senaat’s revenues exceeds aed 14 bn and ebitda at aed 2 bn in 2015 Arab Today, arab today senaat’s revenues exceeds aed 14 bn and ebitda at aed 2 bn in 2015

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 14:11 2017 Monday ,27 February

Oman plans to borrow $2b from overseas markets

GMT 13:24 2017 Monday ,27 February

Raysut Cement proposes 65 per cent cash dividend

GMT 12:32 2017 Monday ,27 February

Spanish trade mission to visit Oman

GMT 06:41 2017 Monday ,27 February

Saudi CPI continues to slide downward

GMT 06:22 2017 Monday ,27 February

6th GCC Financial Forum kicks off today
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday