emirates7 - Al Seer Marine, a subsidiary of International Holding Company (IHC), has announced its 2024 financial results, showcasing operational growth amid market-driven recovery trends.
The company reported a 4% rise in total revenue, reaching AED 1.281 billion. This growth was fueled by diversification across key sectors, including the launch of operations for four new MR tankers in the Commercial Sector, increased demand for yacht management services in the Yachting Sector, and the expansion of maintenance and technical support contracts in the innovation, defense, and technology sectors.
Additionally, Al Seer Marine recorded a 6.2% increase in gross profit, which climbed to AED 153 million in 2024. This improvement was attributed to efficiency enhancements and optimization measures. As of the end of 2024, the company’s total assets were valued at approximately AED 8.4 billion.
Guy Neivens, CEO of Al Seer Marine, emphasized the company’s commitment to strengthening its operational capabilities and solidifying its status as a maritime industry leader. He highlighted fleet expansion with state-of-the-art, future-ready tankers and the advancement of shipbuilding capabilities through "Dune," a joint venture with Damen International focused on constructing naval and commercial vessels.
Neivens also underscored Al Seer Marine’s leadership in maritime innovation, citing its cutting-edge Unmanned Surface Vessel (USV) solutions and the establishment of the world’s largest advanced 3D printing facility at its headquarters.
The company reported a 4% rise in total revenue, reaching AED 1.281 billion. This growth was fueled by diversification across key sectors, including the launch of operations for four new MR tankers in the Commercial Sector, increased demand for yacht management services in the Yachting Sector, and the expansion of maintenance and technical support contracts in the innovation, defense, and technology sectors.
Additionally, Al Seer Marine recorded a 6.2% increase in gross profit, which climbed to AED 153 million in 2024. This improvement was attributed to efficiency enhancements and optimization measures. As of the end of 2024, the company’s total assets were valued at approximately AED 8.4 billion.
Guy Neivens, CEO of Al Seer Marine, emphasized the company’s commitment to strengthening its operational capabilities and solidifying its status as a maritime industry leader. He highlighted fleet expansion with state-of-the-art, future-ready tankers and the advancement of shipbuilding capabilities through "Dune," a joint venture with Damen International focused on constructing naval and commercial vessels.
Neivens also underscored Al Seer Marine’s leadership in maritime innovation, citing its cutting-edge Unmanned Surface Vessel (USV) solutions and the establishment of the world’s largest advanced 3D printing facility at its headquarters.