Aabar announces AED 1.478 billion profit for 3rd quarter

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Abu Dhabi’s Aabar Investments PJSC ("Aabar") has made a profit of AED1.478 billion for its third quarter. Aabar’s book value per share increased from AED3.50 in the second quarter, to AED3.97 in the third quarter.

Aabar’s shareholder equity has increased from AED10.93 billion in the second quarter to AED12.41billion in the third quarter and the statements show a net profit of AED1.478 billion in the third quarter. Khadem Al Qubaisi, Chairman of Aabar, said "I am delighted with the results that Aabar has achieved in yet another successful quarter for the company. The increase in Aabar’s profit for this quarter can be largely attributed to its very successful investment in Daimler which has shown significant growth as well as a profit in several of Aabar’s other investments.

As reflected by the current results, Aabar’s profits continue to grow at a steady rate and the board of directors has full confidence that the company will continue to flourish as it expands and its investments grow. In our view, this will be facilitated and assisted by the growth and development of the city of Abu Dhabi and the local economy. We are excited about Aabar’s progress and we look forward to reporting its further successes.”

Mohamed Badawy Al-Husseiny, Chief Executive Officer of Aabar, echoed the Aabar Chairman’s thoughts and added "I am exceptionally pleased with the company’s performance in this third quarter. After a very successful second quarter, the board and management set our sights upon building on and enhancing the profits and achievements of the company and I am happy to report that we have achieved just that in this quarter. Our team continues to review and consider new investments while working hard to increase the value of the company’s existing investments and I can confirm that potential future transactions include new and exciting opportunities around the world and in areas not previously explored by Aabar (such as Latin America (as already evidenced by our recent announcement of an acquisition of shares in Banco Santander (Brasil) which will be reported in our financials in the fourth quarter))”