Emirates Stallions Group reports $101m Q1 Revenue Growth

ABU DHABI, UAE – Emirates Stallions Group (ESG), a subsidiary of International Holding Company (IHC), has reported strong financial results for the first quarter ended 31 March 2026, delivering double-digit growth across key performance indicators.

Revenue reached AED370 million ($101 million), representing an 11 percent increase compared to AED333 million ($90.7 million) in Q1 2025. Gross profit rose 32 percent to AED130.5 million ($35.5 million), while net profit increased 29 percent to AED68.6 million ($18.7 million).

Operational profit before tax also recorded a 32 percent rise to AED79 million ($21.5 million), reflecting improved efficiency and strong execution across the Group’s core business verticals.

ESG maintained a solid financial position, with total assets reaching AED4.8 billion ($1.31 billion) as of 31 March 2026, up 10 percent compared to year-end 2025. Total equity rose to AED3.1 billion ($844 million), while book value per share increased to AED12.4 ($3.38), highlighting the Group’s continued focus on value creation.

The performance reflects ESG’s diversified operating model, with strong contributions from its real estate development platform and manpower and accommodation services.

H. E. Matar Suhail Al Yabhouni Al Dhaheri, Chairman of ESG, said, “ESG’s strong performance in the first quarter of 2026 builds on the momentum achieved in 2025 and reflects the strength of our diversified platform. Our ability to deliver consistent growth across key business lines underscores our disciplined approach to execution and our focus on long-term value creation.”

The Group’s real estate platform continued to advance during the quarter through Royal Development Holding, with notable progress across key projects.

Among these, the Rotana Residences development on Al Reem Island, valued at AED1 billion ($272 million), achieved a full sell-out ahead of launch, underscoring strong demand for branded residential offerings and reinforcing the appeal of ESG’s development portfolio.

Kayed Ali Khorma, CEO of ESG, said, “Our Q1 results demonstrate a solid start to the year, supported by continued revenue growth and improved profitability. The performance of our real estate platform, alongside the strong contribution from Sawaeed Holding, highlights the effectiveness of our strategy and our ability to capture demand across our core sectors. We will continue to build on this momentum as we advance our development activities and operational priorities.”

In parallel, ESG’s manpower and accommodation arm, Sawaeed Holding, recorded strong growth across key financial indicators, reflecting continued operational strength and demand across multiple sectors.

Sawaeed Holding provides a range of services including manpower supply, workforce accommodation, vocational training and related support services, contributing to the Group’s diversified revenue streams.

Building on its strong performance in 2025, Emirates Stallions Group continues to leverage its integrated platform to drive growth, enhance operational efficiencies and capitalise on opportunities across its core sectors, reinforcing its position as a diversified growth platform within the UAE market.