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Investcorp Capital’s bottom line narrowed 7.1% y-o-y to USD 105 mn during its fiscal year ending 30 June, according to its financial statements (pdf). The company — the investment vehicle of Bahrain-based Investcorp Holdings — saw its revenues increase 4.8% y-o-y to 132 mn during the year. Investcorp’s fiscal year runs from July to June.
Revenue breakdown: The company reported a 8.8% y-o-y increase in revenue from capital financing services, reaching USD 49 mn for the year. Revenue from capital deployment grew y-o-y to USD 76 mn.
What they said: “In our first year as a publicly listed company on the Abu Dhabi Securities Exchange, we have outperformed our targets. Our balance sheet continues to be robust and well-diversified with 70% invested in cash-generating assets,” Investcorp Capital CFO Rohit Nanda said in a separate earnings release (pdf).
REMEMBER– The Abu Dhabi-based firm, which is 20% owned by Abu Dhabi state fund Mubadala, completed its listing on the ADX in November 2023, raising some AED 1.66 bn (USD 450 mn) with a market cap of AED 5.04 bn (USD 1.37 bn). Investcorp Holding initially aimed to raise USD 600 mn from the IPO.
Dividends: Investcorp Capital approved the distribution of dividends amounting to USD 115 mn, representing an annualized return of 13% for holders, and “meeting its commitment to deliver a minimum 8% dividend yield.” The firm has already distributed USD 60 mn of the equity payout.
IN OTHER EARNINGS NEWS- Dubai Integrated Economic Zones Authority (Diez)’s net income grew 18% in 1H 2024, and 12% increase in revenues, compared to numbers recorded at the end of 2023, according to the Dubai Media Office. The authority’s affiliated economic zones, including Dubai Airport Free Zone, Dubai Silicon Oasis, and Dubai CommerCity, saw growth, according to the statement.
Operating income increased during 1H increased by 7% in the same period, with the number of registered companies rising 4% to 78k employees, marking a 12% rise.
