Multiply Group Sees 39% Growth in Q2 Revenue, Reaches $136.9 Million
Abu Dhabi-based Multiply Group reported a 39% increase in its revenue for the second quarter of the year, reaching $136.9 million (AED 503 million). The growth came from strong performance across all areas of the business.
Key Financial Highlights (Q2)
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The revenue growth was helped by the full inclusion of The Grooming Company Holding and the purchase of Excellence Driving.
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Net profit from its operating businesses rose 52% to $40.3 million (AED 148 million).
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The total net profit for the Group (not including investment changes) was $58.2 million (AED 214 million).
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The Beauty division doubled its profits, while the Mobility division grew profits by 48%. The Media division saw a 23% increase.
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EBITDA (earnings before interest, taxes, and other items) was $107.5 million (AED 395 million), slightly lower than last year.
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Investments and other income added $65.1 million (AED 239 million).
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The Group’s results were negatively affected by a $35.9 million (AED 132 million) loss in its Kalyon joint venture, mainly due to currency exchange losses on euro loans.
Sale of Business
Multiply Group agreed to sell its full ownership in PAL Cooling Holding for $1 billion (AED 3.8 billion). This sale is expected to bring in a large amount of cash.
“This money will help us grow even more and strengthen our financial position,” said CEO Samia Bouazza.
New Acquisitions
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Multiply Group recently bought a major share (67.91%) in Spanish clothing company Tendam for $1.5 billion (AED 5.6 billion). This is the Group’s first big deal in Europe. Tendam will now become part of Multiply’s retail and fashion business.
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In June, Multiply also created a new media company called Multiply Media Group (MMG). It brings together three media businesses—BackLite Media, Viola Media, and Media 247—and aims to lead the out-of-home advertising industry using AI and smart investments.
Published: 30th July 2025
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