ESG Emirates Stallions Group’s revenue reaches AED1.2 billion in 2024
ESG Emirates Stallions Group , the leading conglomerate operating across the Workforce Solutions, Construction, and Real Estate sectors, and a subsidiary of International Holding Company, today announced its yearly financial results for 2024. The Group’s total revenue surged by 109% year-on-year from AED609.36 million in 2023 to AED1,273.48 million, demonstrating substantial growth and robust performance across all key business segments.
In 2024, ESG achieved strong financial results, driven by efficient operational execution and strategic investments. Gross profit rose significantly by 160%, reaching AED436.32 million, compared to AED167.6 million in the previous year, reflecting enhanced operational efficiencies and cost management. Moreover, operational profit before tax experienced a notable rise of 75%, reaching AED 228.86 million, compared to AED131.02 million in 2023.
Throughout 2024, ESG continued to execute its strategy of sustainable growth and regional expansion. Key achievements included a healthy M&A pipeline which bolstered the Group’s market presence and diversified its portfolio. Two of the acquisitions involved additional dominant stake in Vision Furniture & Decoration Factory and Decovision, both of which are leading firms in interior decoration and luxury furniture manufacturing. Additionally, ESG acquired Sawaeed Holding, the leading company in the manpower and employees & labor accommodation solutions market.
Matar Suhail Ali Al Yabhouni Aldhaheri – Chairman of ESG, commented: “2024 has been a pivotal year for ESG, marked by outstanding financial achievements and strategic progress. These results underscore the resilience of our business model and our commitment to driving growth, innovation, and sustainability. We are proud to play a leading role in driving growth and resilience across our sectors, positioning ESG as a key contributor to the UAE’s long-term economic success.”
Kayed Ali Khorma – CEO of ESG, added: “We are proud to report another year of strong financial performance, driven by the dedication of our team and our strategic approach to sustainable growth. Our results for 2024 underscore ESG’s resilience and adaptability in a dynamic market environment. We remain focused on delivering exceptional value to our shareholders, clients, and communities as we continue to execute our growth strategy.”
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