Reported Earnings • Jul 31
Second quarter 2026 earnings released: EPS: د.إ0.15 (vs د.إ0.04 in 2Q 2025) Second quarter 2026 results: EPS: د.إ0.15 (up from د.إ0.04 in 2Q 2025). Revenue: د.إ11.9b (up د.إ11.4b from 2Q 2025). Net income: د.إ5.15b (up د.إ4.71b from 2Q 2025). Profit margin: 43% (down from 88% in 2Q 2025). Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 5.1% decline forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Aankondiging • Jul 24
Two Point Zero Group P.J.S.C to Report First Half, 2026 Results on Jul 30, 2026 Two Point Zero Group P.J.S.C announced that they will report first half, 2026 results on Jul 30, 2026 Aankondiging • Jun 12
Abu Dhabi Power Corporation acquired additional 7.29% stake in Abu Dhabi National Energy Company PJSC (ADX:TAQA) from Two Point Zero Group P.J.S.C (ADX:2POINTZERO). Abu Dhabi Power Corporation acquired additional 7.29% stake in Abu Dhabi National Energy Company PJSC (ADX:TAQA) from Two Point Zero Group P.J.S.C (ADX:2POINTZERO) on June 11, 2026. The proceeds will be allocated towards optimizing the Group’s capital structure, strengthening its balance sheet, and supporting investments across strategic sectors globally, including energy, mining, consumer, food and packaging businesses.
Abu Dhabi Power Corporation completed the acquisition of additional 7.29% stake in Abu Dhabi National Energy Company PJSC (ADX:TAQA) from Two Point Zero Group P.J.S.C (ADX:2POINTZERO) on June 11, 2026. Reported Earnings • May 09
First quarter 2026 earnings released: EPS: د.إ0.056 (vs د.إ0.012 in 1Q 2025) First quarter 2026 results: EPS: د.إ0.056 (up from د.إ0.012 in 1Q 2025). Revenue: د.إ9.94b (up د.إ9.42b from 1Q 2025). Net income: د.إ1.97b (up د.إ1.83b from 1Q 2025). Profit margin: 20% (down from 27% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to د.إ1.94, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 10x in the Industrials industry in United Arab Emirates. Total loss to shareholders of 41% over the past three years. New Risk • Mar 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Aankondiging • Mar 06
Multiply Group PJSC (ADX:MULTIPLY) and Peninsula Capital Sarl completed the acquisition of 60.8% stake in Isem S.r.l. from Peninsula Capital Sarl and others for AED 704 million. Multiply Group PJSC (ADX:MULTIPLY) and Peninsula Capital Sarl signed an agreement to acquire 60.8% stake in Isem S.r.l. from Peninsula Capital Sarl and others on October 8, 2025. Upon completion of the transaction, Multiply Group will hold 60.8% of ISEM, while Peninsula Capital and minority investors will own the remaining 39.2% stake.
The transaction is subject to regulatory approvals.
Alessandro Seganfreddo , Andrea Pretti, Alex Dolmans, Iacopo Canino, Casto Gonzalez-Paramo, Alexander Koch and Emmanuel Lamaud of Hogan Lovells in Italy, Germany, Spain and Luxembourg acted as legal advisor for Multiply Group and Peninsula Capital (buy side). Francesco Florio, Marino Ghidoni and Alessandro Airaghi of Legance acted as legal advisor for Peninsula Capital in its reinvestment in ISEM and in the shareholder agreements with Multiply. Guidomaria Brambilla of Gatti Pavesi Bianchi Ludovici and Augusto Santoro and Bernadetta Troisi of Herbert Smith Freehills Kramer acted as legal advisors for Peninsula Capital (sell side).
Multiply Group PJSC (ADX:MULTIPLY) and Peninsula Capital Sarl completed the acquisition of 60.8% stake in Isem S.r.l. from Peninsula Capital Sarl and others on March 5, 2025. Aankondiging • Mar 05
Two Point Zero Group P.J.S.C (ADX:2POINTZERO) acquired an unknown stake in WHOOP, Inc. Two Point Zero Group P.J.S.C (ADX:2POINTZERO) acquired an unknown stake in WHOOP, Inc. on March 4, 2026.
Two Point Zero Group P.J.S.C (ADX:2POINTZERO) completed the acquisition of an unknown stake in WHOOP, Inc. on March 4, 2026. Aankondiging • Feb 23
Two Point Zero Group P.J.S.C, Annual General Meeting, Mar 12, 2026 Two Point Zero Group P.J.S.C, Annual General Meeting, Mar 12, 2026, at 15:30 Arabian Standard Time. Location: abu dhabi United Arab Emirates Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to د.إ2.04, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 12x in the Industrials industry in United Arab Emirates. Total loss to shareholders of 48% over the past three years. Reported Earnings • Feb 07
Full year 2025 earnings released: EPS: د.إ0.25 (vs د.إ0 in FY 2024) Full year 2025 results: EPS: د.إ0.25 (up from د.إ0 in FY 2024). Revenue: د.إ7.00b (up 247% from FY 2024). Net income: د.إ3.37b (up د.إ3.37b from FY 2024). Profit margin: 48% (up from net loss in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Aankondiging • Feb 02
Two Point Zero Group P.J.S.C to Report Fiscal Year 2025 Results on Feb 05, 2026 Two Point Zero Group P.J.S.C announced that they will report fiscal year 2025 results on Feb 05, 2026 Aankondiging • Nov 20
Multiply Group PJSC (ADX:MULTIPLY) completed the acquisition of Two Point Zero Group LLC from IHC Food Holding LLC, IHC Companies Management LLC and others. Multiply Group PJSC (ADX:MULTIPLY) entered into a non-binding offer to acquire Two Point Zero Group LLC from IHC Food Holding LLC, IHC Companies Management LLC and others for approximately AED 67 billion on September 4, 2025. The transaction will be executed through a share swap, with Multiply Group issuing approximately 21.6 billion new shares to acquire 2PointZero. In a related transaction, Multiply Group will also acquire Ghitha Holding by issuing 1.76 billion shares. Once the transaction is approved by Multiply Group shareholders then the merged company name will be changing to “Two Point Zero Group P.J.S.C". Multiply Group Board recommend to it's shareholders to approve the Company's Articles of Association to increase the number of members of the Company’s Board of Directors from 5 members to be 9 members.
The transaction is currently under review and remains subject to shareholder and regulatory approvals. As of October 15, 2025, deal has been recommend by Multiply Group board. As of November 10, 2025 the shareholders of Multiply Group approved the transaction.
Hadef & Partners acted as the legal advisor to Multiply Group PJSC. Deloitte & Touche (M.E.) acted as the accountant to Multiply Group PJSC.
Multiply Group PJSC (ADX:MULTIPLY) completed the acquisition of Two Point Zero Group LLC from IHC Food Holding LLC, IHC Companies Management LLC and others on November 18, 2025. The process of amending the company’s trade name to ‘Two Point Zero Group’ has also been completed in line with the General Assembly approval on November 10, and the Securities and Commodities Authority (SCA) approval of the amendment to the Articles of Association regarding name change. Reported Earnings • Oct 29
Third quarter 2025 earnings released: EPS: د.إ0.18 (vs د.إ0.061 in 3Q 2024) Third quarter 2025 results: EPS: د.إ0.18 (up from د.إ0.061 in 3Q 2024). Revenue: د.إ1.22b (up 136% from 3Q 2024). Net income: د.إ1.98b (up 188% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Aankondiging • Oct 24
Multiply Group PJSC to Report Q3, 2025 Results on Oct 28, 2025 Multiply Group PJSC announced that they will report Q3, 2025 results on Oct 28, 2025 Aankondiging • Oct 15
2PointZero agreed to acquire Multiply Group PJSC (ADX:MULTIPLY) in a reverse merger transaction for approximately AED 67 billion. 2PointZero agreed to acquire Multiply Group PJSC (ADX:MULTIPLY) in a reverse merger transaction for approximately AED 67 billion on October 15, 2025. The transaction will be executed through a share swap, with Multiply Group issuing approximately 21.6 billion new shares to acquire 2PointZero. In a related transaction, Multiply Group will acquire Ghitha Holding by issuing 1.76 billion shares. Once the transaction is approved by Multiply Group shareholders then the merged company name will be changing to “Two Point Zero Group P.J.S.C". Multiply Group Board recommend to it's shareholders to approve the Company's Articles of Association to increase the number of members of the Company’s Board of Directors from ) members to be nine (9) members.
The transaction is currently under review and remains subject to shareholder and regulatory approvals. The deal has been recommend by Multiply Group board. Aankondiging • Oct 14
National Central Cooling Compaplny PJSC (DFM:TABREED) and CVC DIF acquired PAL Cooling Holding LLC from Multiply Group PJSC (ADX:MULTIPLY) for AED3.9 billion. National Central Cooling Company PJSC (DFM:TABREED) and CVC DIF agreed to acquire PAL Cooling Holding LLC from Multiply Group PJSC (ADX:MULTIPLY) for AED 4.1 billion on June 30, 2025. A cash consideration of AED 3.8 billion will be paid by National Central Cooling Company PJSC and CVC DIF. As part of consideration, AED 3.8 billion is paid towards common equity of PAL Cooling Holding LLC. Total Enterprise Value for the transaction is AED 4.1 billion.
The transaction is subject to the receipt of regulatory approvals. The future proceeds will be strategically deployed to accelerate growth across core verticals and support further global expansion ambitions.
Rajesh Singhi, Bidu Prakash Das, Ekene Obiekwe, Emanuele Ramazio of Standard Chartered Bank - UAE Branches acted as financial advisor to Multiply Group PJSC. Mohammed Al-Shukairy, Lynn Ammar, Chirag Sanghrajk and Tariq Imam of Clifford Chance LLP (UAE) and David F Saleh and Vadim Romanoff of Clifford Chance LLP acted as legal advisor to Multiply Group PJSC. Citigroup Inc. (NYSE:C), Synergy Consulting Infrastructure & Financial Advisory Services Inc. acted as financial advisor and Steven Worthington, Aleks Stadnik,Antoine Cousin, Mark Andrews, Khawla Alatiyat, Louise Vun, Aimy Roshan, Elizaveta Bazarova, Will Smith, Tamer Nagy, Marika Harjula of White & Case LLP, White & Case (London) Ltd, White & Case LLP Avocats-Advocaten acted as legal advisor to National Central Cooling Company PJSC and CVC DIF. Abeer Jarrar of Baker & McKenzie Habib Al Mulla and Nick Rainsford of Baker & Mckenzie LLP, London acted as legal advisor to CVC DIF. J.P. Morgan acted as financial advisor to CVC DIF.
National Central Cooling Company PJSC (DFM:TABREED) and CVC DIF completed the acquisition of PAL Cooling Holding LLC from Multiply Group PJSC (ADX:MULTIPLY) for AED 3.9 billion on October 13, 2025. The transaction is approved by regulatory board. Aankondiging • Oct 10
Multiply Group PJSC (ADX:MULTIPLY) agreed to acquire 60.80% stake in Isem S.r.l. Multiply Group PJSC (ADX:MULTIPLY) agreed to acquire 60.80% stake in Isem S.r.l. on October 8, 2025. Upon completion of the transaction, Multiply Group will hold 60.8% of ISEM, while Peninsula Capital and minority investors will own the remaining 39.2%.
The transaction is subject to regulatory approvals. New Risk • Sep 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 5.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.0% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.2% average weekly change). Large one-off items impacting financial results. Board Change • Aug 06
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Chairman of the Board Sayed Shueb Syed was the last director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
Second quarter 2025 earnings released: EPS: د.إ0.04 (vs د.إ0.082 in 2Q 2024) Second quarter 2025 results: EPS: د.إ0.04 (down from د.إ0.082 in 2Q 2024). Revenue: د.إ503.3m (up 39% from 2Q 2024). Net income: د.إ444.0m (down 52% from 2Q 2024). Profit margin: 88% (down from 255% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Aankondiging • Jul 24
Multiply Group PJSC (ADX:MULTIPLY) completed the acquisition of 67.91% stake in Castellano Investments S.à R.l. for an enterprise value of €1.3 billion. Multiply Group PJSC (ADX:MULTIPLY) agreed to acquire 67.91% stake in Castellano Investments S.à R.l. on February 25, 2025. Multiply Group PJSC to invest via a capital increase that will secure a controlling stake of 67.91% in Castellano Investments S.À R.L and becoming the majority shareholder in the Company alongside Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles for CVC Funds and PAI Partners respectively, who will remain minority shareholders in the Company.
The transaction is subject to approval by regulatory board / committee.
Greenhill & Co., LLC acted as financial advisor for Multiply Group PJSC. Hogan Lovells acted as legal advisor for Multiply Group PJSC. KPMG Law Luxembourg Sàrl acted as legal advisor for Multiply Group PJSC. Uría Menéndez Abogados, S.L.P. acted as legal advisor for Castellano Investments S.à R.l. and its current shareholders. Larrauri & Marti Abogados acted as legal advisor for Castellano Investments S.à R.l. Latham & Watkins LLP acted as legal advisor for Castellano Investments S.à R.l.
Multiply Group PJSC (ADX:MULTIPLY) completed the acquisition of 67.91% stake in Castellano Investments S.à R.l. for an enterprise value of €1.3 billion on July 23, 2025. Multiply now has a majority interest of 67.91% in Castellano Investments S.À R.L.(the owner of Tendam Brands S.A.U. and other subsidiaries) with Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles for CVC Funds and PAI Partners, remaining as minority shareholders.
R. Hermosilla Gimeno Abogados S.L.P acted as the legal advisor to Tendam on this transaction. Aankondiging • Jul 23
Multiply Group PJSC to Report Q2, 2025 Results on Jul 28, 2025 Multiply Group PJSC announced that they will report Q2, 2025 results on Jul 28, 2025 Aankondiging • Jun 30
National Central Cooling Company PJSC (DFM:TABREED) and CVC DIF agreed to acquire PAL Cooling Holding LLC from Multiply Group PJSC (ADX:MULTIPLY) for AED 3.8 billion. National Central Cooling Company PJSC (DFM:TABREED) and CVC DIF agreed to acquire PAL Cooling Holding LLC from Multiply Group PJSC (ADX:MULTIPLY) for AED 3.8 billion on June 30, 2025. A cash consideration of AED 3.8 billion will be paid by National Central Cooling Company PJSC and CVC DIF. As part of consideration, AED 3.8 billion is paid towards common equity of PAL Cooling Holding LLC.
The transaction is still subject to the receipt of regulatory approvals. The future proceeds will be strategically deployed to accelerate growth across core verticals and support further global expansion ambitions. Reported Earnings • Apr 30
First quarter 2025 earnings released: EPS: د.إ0.015 (vs د.إ0.38 loss in 1Q 2024) First quarter 2025 results: EPS: د.إ0.015 (up from د.إ0.38 loss in 1Q 2024). Revenue: د.إ585.1m (up 50% from 1Q 2024). Net income: د.إ163.2m (up د.إ4.45b from 1Q 2024). Profit margin: 28% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Aankondiging • Apr 24
Multiply Group PJSC to Report Q1, 2025 Results on Apr 28, 2025 Multiply Group PJSC announced that they will report Q1, 2025 results on Apr 28, 2025 Buy Or Sell Opportunity • Apr 24
Now 27% overvalued Over the last 90 days, the stock has fallen 7.8% to د.إ2.02. The fair value is estimated to be د.إ1.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Meanwhile, the company became loss making. New Risk • Apr 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Mar 19
Now 21% overvalued Over the last 90 days, the stock has fallen 6.0% to د.إ1.87. The fair value is estimated to be د.إ1.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 28
Now 21% overvalued Over the last 90 days, the stock has fallen 5.9% to د.إ1.92. The fair value is estimated to be د.إ1.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Meanwhile, the company became loss making. Aankondiging • Feb 26
Multiply Group PJSC (ADX:MULTIPLY) agreed to acquire 67.91% stake in Castellano Investments S.à R.l. Multiply Group PJSC (ADX:MULTIPLY) agreed to acquire 67.91% stake in Castellano Investments S.à R.l. on February 25, 2025. Multiply Group PJSC to invest via a capital increase that will secure a controlling stake of 67.91% in Castellano Investments S.À R.L and becoming the majority shareholder in the Company alongside Llano Holdings S.À R.L. and Arcadian Investments S.À R.L., the corporate investment vehicles for CVC Funds and PAI Partners respectively, who will remain minority shareholders in the Company.
The transaction is subject to approval by regulatory board / committee.
Greenhill & Co., LLC acted as financial advisor for Multiply Group PJSC. Hogan Lovells acted as legal advisor for Multiply Group PJSC. KPMG Law Luxembourg Sàrl acted as legal advisor for Multiply Group PJSC. Uría Menéndez Abogados, S.L.P. acted as legal advisor for Castellano Investments S.à R.l. Larrauri & Marti Abogados acted as legal advisor for Castellano Investments S.à R.l. Latham & Watkins LLP acted as legal advisor for Castellano Investments S.à R.l. Aankondiging • Feb 20
Multiply Group PJSC, Annual General Meeting, Mar 12, 2025 Multiply Group PJSC, Annual General Meeting, Mar 12, 2025, at 15:30 Arabian Standard Time. Buy Or Sell Opportunity • Feb 07
Now 21% overvalued Over the last 90 days, the stock has fallen 8.9% to د.إ2.05. The fair value is estimated to be د.إ1.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 05
Full year 2024 earnings released: د.إ0.001 loss per share (vs د.إ0.03 profit in FY 2023) Full year 2024 results: د.إ0.001 loss per share (down from د.إ0.03 profit in FY 2023). Revenue: د.إ2.02b (up 56% from FY 2023). Net loss: د.إ5.60m (down 102% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: د.إ0.06 (vs د.إ0.008 in 3Q 2023) Third quarter 2024 results: EPS: د.إ0.06 (up from د.إ0.008 in 3Q 2023). Revenue: د.إ517.5m (up 47% from 3Q 2023). Net income: د.إ688.7m (up د.إ603.9m from 3Q 2023). Aankondiging • Oct 25
Multiply Group PJSC to Report Q3, 2024 Results on Oct 29, 2024 Multiply Group PJSC announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Jul 30
Second quarter 2024 earnings released: EPS: د.إ0.08 (vs د.إ0.032 in 2Q 2023) Second quarter 2024 results: EPS: د.إ0.08 (up from د.إ0.032 in 2Q 2023). Revenue: د.إ442.1m (up 60% from 2Q 2023). Net income: د.إ939.2m (up 159% from 2Q 2023). Aankondiging • Jul 24
Multiply Group PJSC to Report Q2, 2024 Results on Jul 29, 2024 Multiply Group PJSC announced that they will report Q2, 2024 results at 2:00 PM, Arabian Standard Time on Jul 29, 2024 Buy Or Sell Opportunity • Jul 01
Now 25% overvalued Over the last 90 days, the stock has fallen 1.8% to د.إ2.13. The fair value is estimated to be د.إ1.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last year. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jun 24
Now 20% overvalued Over the last 90 days, the stock has fallen 11% to د.إ2.01. The fair value is estimated to be د.إ1.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last year. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 27
Now 21% overvalued Over the last 90 days, the stock has fallen 7.6% to د.إ2.06. The fair value is estimated to be د.إ1.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last year. Meanwhile, the company became loss making. Reported Earnings • May 04
First quarter 2024 earnings released: د.إ0.38 loss per share (vs د.إ0.003 loss in 1Q 2023) First quarter 2024 results: د.إ0.38 loss per share (further deteriorated from د.إ0.003 loss in 1Q 2023). Revenue: د.إ391.3m (up 45% from 1Q 2023). Net loss: د.إ4.29b (loss widened د.إ4.25b from 1Q 2023). New Risk • Apr 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (26% net profit margin). Aankondiging • Feb 27
Multiply Group PJSC (ADX:MULTIPLY) acquired BackLite Media FZ-LLC. Multiply Group PJSC (ADX:MULTIPLY) acquired BackLite Media FZ-LLC on February 26, 2024. In 2023, BackLite Media reported revenues of AED 232 million.Multiply Group PJSC (ADX:MULTIPLY) completed the acquisition of BackLite Media FZ-LLC on February 26, 2024. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to د.إ2.22, the stock trades at a trailing P/E ratio of 75.2x. Average trailing P/E is 32x in the Industrials industry in United Arab Emirates. Total loss to shareholders of 43% over the past year. Aankondiging • Feb 17
Multiply Group PJSC, Annual General Meeting, Mar 13, 2024 Multiply Group PJSC, Annual General Meeting, Mar 13, 2024, at 11:30 Coordinated Universal Time. Agenda: To review and approve the report of the Board of Directors on the Company s activity and its financial position for the financial year ended 31/12/2023; to review and approve the Auditors report for the financial year ended 31/12/2023; to discuss and approve the Company's balance sheet and profit and loss account for the financial year ended 31/12/2023; to appoint the Company s Auditors and determine their fees for the financial year that will end on 31/12/2024; and to consider other matters. New Risk • Feb 09
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 49% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (26% net profit margin). New Risk • Feb 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 26% Last year net profit margin: 1,637% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 08
Full year 2023 earnings released: EPS: د.إ0.03 (vs د.إ1.65 in FY 2022) Full year 2023 results: EPS: د.إ0.03 (down from د.إ1.65 in FY 2022). Revenue: د.إ1.29b (up 15% from FY 2022). Net income: د.إ337.8m (down 98% from FY 2022). Profit margin: 26% (down from 1,637% in FY 2022). New Risk • Oct 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (69% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.8% average weekly change). Reported Earnings • Oct 22
Third quarter 2023 earnings released: EPS: د.إ0.008 (vs د.إ0.83 in 3Q 2022) Third quarter 2023 results: EPS: د.إ0.008 (down from د.إ0.83 in 3Q 2022). Revenue: د.إ351.8m (up 24% from 3Q 2022). Net income: د.إ84.8m (down 99% from 3Q 2022). Profit margin: 24% (down from 3,256% in 3Q 2022). Aankondiging • Sep 07
Multiply Group PJSC (ADX:MULTIPLY) completed the acquisition of 55% stake in Media 247 for AED 230 million. Multiply Group PJSC (ADX:MULTIPLY) signed a binding commitment to acquire a 55% stake in Media 247 for approximately AED 180 million on April 24, 2023. Media 247 assets include over 45 exclusive outdoor premium hoardings, unipoles and 3D structures spread across Dubai’s most strategic locations. The investment in Media 247 falls under the buy and build vertical strategy of acquiring profitable companies, creating portfolio-wide synergies, investing in bolt-on acquisitions, augmenting scalability and enhancing their margins. Deal completion is subject to regulatory conditions and approvals.Multiply Group PJSC (ADX:MULTIPLY) completed the acquisition of 55% stake in Media 247 for AED 230 million on September 6, 2023. Reported Earnings • Jul 26
Second quarter 2023 earnings released: EPS: د.إ0.03 (vs د.إ0.009 in 2Q 2022) Second quarter 2023 results: EPS: د.إ0.03 (up from د.إ0.009 in 2Q 2022). Revenue: د.إ276.4m (up 3.9% from 2Q 2022). Net income: د.إ362.1m (up 267% from 2Q 2022). Aankondiging • Jul 21
Multiply Group PJSC to Report Q2, 2023 Results on Jul 24, 2023 Multiply Group PJSC announced that they will report Q2, 2023 results on Jul 24, 2023 Reported Earnings • May 03
First quarter 2023 earnings released First quarter 2023 results: Revenue: د.إ269.1m (up 12% from 1Q 2022). Net loss: د.إ36.8m (down 113% from profit in 1Q 2022). Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: د.إ1.65 (vs د.إ0.017 in FY 2021) Full year 2022 results: EPS: د.إ1.65 (up from د.إ0.017 in FY 2021). Revenue: د.إ1.13b (up 203% from FY 2021). Net income: د.إ18.4b (up د.إ18.2b from FY 2021). Aankondiging • Feb 05
Multiply Group PJSC to Report Fiscal Year 2022 Results on Feb 09, 2023 Multiply Group PJSC announced that they will report fiscal year 2022 results on Feb 09, 2023 Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: د.إ0.83 (vs د.إ0.32 in 3Q 2021) Third quarter 2022 results: EPS: د.إ0.83 (up from د.إ0.32 in 3Q 2021). Revenue: د.إ284.1m (up 75% from 3Q 2021). Net income: د.إ9.25b (up د.إ9.15b from 3Q 2021). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Aankondiging • Apr 26
Multiply Group PJSC (ADX:MULTIPLY) acquired Rose Water Ladies Salon LLC. Multiply Group PJSC (ADX:MULTIPLY) acquired Rose Water Ladies Salon LLC in the first quarter ending March 31, 2022.
Multiply Group PJSC (ADX:MULTIPLY) completed the acquisition of Rose Water Ladies Salon LLC in the first quarter ending March 31, 2022. Aankondiging • Mar 06
Multiply Group PJSC, Annual General Meeting, Mar 10, 2022 Multiply Group PJSC, Annual General Meeting, Mar 10, 2022, at 12:00 Coordinated Universal Time. Aankondiging • Feb 01
Multiply Group PJSC to Report Fiscal Year 2021 Results on Feb 03, 2022 Multiply Group PJSC announced that they will report fiscal year 2021 results on Feb 03, 2022