emirates7 - E7 Group has announced its financial results for the nine-month period ending 30th September 2024, reporting a net profit before tax of AED 180.8 million, marking an 82% year-on-year increase.

The company also saw a 65% rise in net profit after tax, reaching AED 164.5 million, with the profit margin expanding from 21% to 33% compared to the same period last year.

Ahmed Al Shamsi, Chairman of E7 Group, commented, "E7 has delivered another strong quarter, demonstrating significant progress in executing our growth strategy. We continue to see robust growth in specialized areas such as security solutions, where we plan to invest heavily in capacity expansion over the next year, as well as in sustainable packaging."

Ali Saif Ali Abdulla Alnuaimi, Group CEO of E7, stated, "Our solid third-quarter performance reflects strong results across all business segments. We are also focusing on strengthening our portfolio of long-term client contracts, enhancing the visibility of future revenues."

In the third quarter of 2024, E7’s revenue reached AED 190.9 million, a 7% increase from the previous year, driven by new client acquisitions in the packaging business.

For the first nine months of 2024, total revenue amounted to AED 491.7 million, up 6% from the prior year.

The company maintained a stable EBITDA margin of 31%, benefiting from long-term supply agreements and healthy capacity utilization. EBITDA for the period rose by 5% to AED 129.9 million.

At the end of the period, E7's cash and bank balances stood at AED 1.44 billion, positioning the company well for future strategic growth investments.