Abu dhabi: Multiply Group, an Abu Dhabi-based investment holding firm, today announced its Q2 2025 financial results, reporting an EBITDA excluding fair value changes of AED395 million compared to AED403 million in Q2 2024. Adjusting for the impact of the Kalyon Enerji joint venture, which realized a share of loss due to foreign exchange losses from the revaluation of EUR-denominated loans, the Group's EBITDA rose 38% year-on-year for Q2 2025.
According to Emirates News Agency, the net profit from the Group's subsidiaries increased by 52%, supported by solid growth across its verticals. The reported profit of AED532 million includes AED318 million in unrealized gains from revaluation, driven by periodic market fluctuations. The Group remains focused on integrating operations across its verticals, emphasizing digital transformation and operational efficiency, which have contributed to strong revenue momentum.
The Group's revenue increased by 39% year-on-year to AED503 million, driven by growth across all verticals, the full-quarter consolidation of The Grooming Company Holding, and the acquisition of Excellence Driving. The blended gross profit margin remained robust at 52%, reflecting continued profitability across the core portfolio.
Net profit from operating businesses increased by 52%, bolstered by the Beauty vertical more than doubling its net profit and the Mobility vertical increasing its net profit by 48% through both organic and inorganic growth. Meanwhile, the Media vertical experienced a 23% growth in net profit. However, the Group recorded a share of loss from the Kalyon joint venture amounting to AED54 million in Q2 2025, compared to a AED78 million gain in Q2 2024, due to foreign exchange losses stemming from the revaluation of EUR-denominated loans amid a stronger Euro.
Multiply Group's balance sheet remains strong, with a cash balance of AED1.85 billion. The execution of its long-term strategy continues to yield results as the Group builds a diversified portfolio across core verticals while pursuing high-return investments under Multiply+. Under Multiply+, the Group's public market portfolio closed the quarter with a valuation of AED32 billion, up from an initial investment of AED15 billion. Despite market fluctuations affecting the fair value of some assets, performance across the portfolio remains robust, as does the underlying long-term potential from targeted investments.
