Emirates Stallions net profit up 36pc; revenue hits $354m

02/11/2026 10:14 AST

Emirates Stallions Group (ESG), a subsidiary of Abu Dhabi group IHC with key interests in construction, investment and real estate, has delivered solid results for the nine-month period ended September 30, with a 36% year-on-year increase in its net profit hitting AED255 million ($69.4 million), while its revenue grew 23% to AED1.3 billion ($354 million), supported by continued advancement across ongoing development projects and increased activity across the Group's diversified business verticals.

Operational profit before tax increased 39% year-on-year to AED291.3 million, while gross profit rose 20% to AED429.1 million.

The Group also strengthened its financial position, with total assets increasing 13% to AED4.9 billion and total equity rising 13% to AED3.3 billion compared to December 2025.

The results underscore the strength of ESG's diversified business model, with continued growth across its operations and real estate development portfolio supporting stronger financial performance and long-term value creation.

Matar Suhail Al Yabhouni Al Dhaheri, the Chairman of ESG, said: "Our ambition is to build on the capabilities we have established across ESG and ensure that each of our businesses contributes to the Group's continued development. We see considerable value in the breadth of our operations, which allows us to maintain a presence across different sectors while pursuing a measured approach to expansion. Our priority is to build on these foundations and ensure that the Group continues to grow from a position of strength."

CEO Kayed Ali Khorma said: "Our diversified operations continue to contribute to revenue, while progress across our development projects is adding to the Group's asset base. We will continue to build on this performance by maintaining the pace of project delivery while continuing to improve how we manage our businesses."

"During the third quarter, ESG advanced key projects within its real estate portfolio. In September, the Group launched Phase 2 of Radisson Residences, and awarded the main works contract for Seamont," he stated.

These milestones contributed to the Group's revenue performance and the expansion of its asset base.

Across its other business verticals, including manpower and accommodation solutions, retail, and manufacturing, ESG continued to see increased activity in ongoing operations, he added.

As ESG enters the final quarter of 2026, the Group remains focused on maintaining operational momentum, progressing key projects and executing its priorities with discipline. It remains committed to supporting sustainable long-term growth and delivering value for its shareholders.

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