ABU DHABI: Senaat General Holding Corporation (Senaat), an Abu Dhabi-based holding company, announced revenues of approximately Dh14.04 billion for 2015, a 5 per cent increase 2014. In a statement, the company said the revenues reflects a stronger commercial performance across the company’s portfolio, despite the slowing global economy and its effect on the regional and local markets. Earnings before interest, taxes, depreciation and amortisation (Ebitda) stood at approximately Dh2 billion for 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. Senaat currently manages more than Dh26.8 billion of industrial assets on behalf of the Government of Abu Dhabi.
“FY 2015 marked a year of strong top-line growth for Senaat and its portfolio companies,” said Senaat Chairman Hussain Jasem Al Nowais in the statement. “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.”
