Reported Earnings • Jul 30
First half 2026 earnings released: EPS: د.إ0.13 (vs د.إ0.12 in 1H 2025) First half 2026 results: EPS: د.إ0.13 (up from د.إ0.12 in 1H 2025). Revenue: د.إ9.19b (up 48% from 1H 2025). Net income: د.إ2.16b (up 12% from 1H 2025). Profit margin: 24% (down from 31% in 1H 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat. Announcement • Jul 25
Modon Holding PSC to Report Q2, 2026 Results on Jul 29, 2026 Modon Holding PSC announced that they will report Q2, 2026 results on Jul 29, 2026 New Risk • Jul 19
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% 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 (29% net profit margin). Announcement • Mar 09
Modon Holding PSC, Annual General Meeting, Mar 31, 2026 Modon Holding PSC, Annual General Meeting, Mar 31, 2026, at 15:00 Arabian Standard Time. New Risk • Feb 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Profit margins are more than 30% lower than last year (26% net profit margin). Announcement • Oct 31
Abu Dhabi (Emirate of) acquired an additional 51.04% stake in Modon Holding PSC (ADX:MODON) from Alpha Dhabi Holding PJSC (ADX:ALPHADHABI) and International Holding Company PJSC (ADX:IHC). Abu Dhabi (Emirate of) acquired an additional 51.04% stake in Modon Holding PSC (ADX:MODON) from Alpha Dhabi Holding PJSC (ADX:ALPHADHABI) and International Holding Company PJSC (ADX:IHC) on October 30, 2025. Abu Dhabi acquired 42.54% stake from International Holding Company and 8.5% stake from Alpha Dhabi Holding. After the completion of transaction, Abu Dhabi (Emirate of) now holds 84.76% stake in Modon Holding.
Abu Dhabi (Emirate of) completed acquisition of an additional 51.04% stake in Modon Holding PSC (ADX:MODON) from Alpha Dhabi Holding PJSC (ADX:ALPHADHABI) and International Holding Company PJSC (ADX:IHC) on October 30, 2025. Reported Earnings • Jul 30
Second quarter 2025 earnings released: EPS: د.إ0.054 (vs د.إ0.02 in 2Q 2024) Second quarter 2025 results: EPS: د.إ0.054 (up from د.إ0.02 in 2Q 2024). Revenue: د.إ2.93b (up 78% from 2Q 2024). Net income: د.إ876.8m (up 170% from 2Q 2024). Profit margin: 30% (up from 20% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jul 03
Modon Launches Wadeem, Its First Residential Plots Community on Hudayriyat Island Modon has announced the launch of Wadeem, its first residential plots release on Hudayriyat Island to offer discerning buyers the opportunity to design and build their own dream homes in one of Abu Dhabi's most desirable emerging locations. Set opposite Abu Dhabi's prestigious Al Bateen area, Wadeem is the first new offering of land so close to the city's most exclusive areas in more than 15 years. In total, Wadeem features more than 1,700 plots, each with ample room for a four- to six-bedroom villa and generous enough to accommodate a swimming pool alongside outdoor dining and entertainment spaces. The plots - just a stone's throw from Hudayriyat Island's idyllic coastline - will offer owners the chance to enjoy the stunning views of Abu Dhabi's impressive skyline, as well as easy access to the island's many pristine beaches and the azure waters of the Gulf. At the heart of the neighbourhood will be a community centre with a selection of shopping outlets, a private school, a mosque and a central park. Designed for active families and with ease of access in mind, Wadeem will be walkable and connected by cycling paths meandering through lush greenery. Supporting healthy lifestyles and wellbeing, a selection of local outdoor exercise areas will include a recreational hub boasting swimming pools, a jogging track, and sports courts, as well as a yoga and meditation zone. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to د.إ3.37, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 20x in the Industrials industry in United Arab Emirates. Total loss to shareholders of 20% over the past three years. Announcement • May 23
Modon Holding P.S.C. Announces Muheira, the First Modon Freehold Residential Towers on Reem Island, Sell Out on Launch Day Modon Holding P.S.C has announced the complete sell-out of Muheira, a high-end freehold residential community located on Reem Island, on the day of launch. Strong interest in the collection of one- to three-bedroom apartments, which seamlessly blend style and comfort, reflects the success of Modon's visionary approach to transforming urban landscapes through impeccably designed homes. The sale of 475 apartments generated approximately AED 1 billion. Muheira will be an ideal living destination for young professionals, couples and growing families that fosters a healthy and active lifestyle, comprising two towers set in one of the city's most desirable locations close to Abu Dhabi Global Market (ADGM). Directly fronting a waterfront promenade with jogging and cycling tracks, as well as outdoor fitness stations, homes at Muheira will offer residents the perfect blend of urban vibrancy and natural beauty. Among its amenities, Muheira features an adult pool and a shaded children's pool on the podium level, while the rooftop boasts an outdoor pool and terrace with breathtaking views. Announcement • Feb 19
Modon Holding PSC, Annual General Meeting, Mar 12, 2025 Modon Holding PSC, Annual General Meeting, Mar 12, 2025, at 15:00 Arabian Standard Time. New Risk • Feb 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (32% accrual ratio). Shareholders have been substantially diluted in the past year (138% increase in shares outstanding). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Announcement • Feb 05
Modon Holding PSC (ADX:MODON) entered into a definitive agreement to acquire Arena Events Group Limited from TasHeel Holding Group and IHC Industrial Holding LLC. Modon Holding PSC (ADX:MODON) entered into a definitive agreement to acquire Arena Events Group Limited from TasHeel Holding Group and IHC Industrial Holding LLC on February 3, 2025. The acquisition of Arena further strengthens Modon’s profile in the global events industry and significantly broadens its existing capabilities in this sector and its presence in over 10 countries that Arena operates in, notably US, UK and KSA. Arena has been an integral component of a number of high profile and diverse sporting events, including services and infrastructure support provided to the 2024 Paris Olympics Games, Formula1 races in Abu Dhabi, Jeddah, Vegas, Miami and Austin, Wimbledon and the annual Cinch Championships at Queen’s Club in London as well as setting up a modular cricket stadium for the T20 World Cup in New York. The transaction, anticipated to close by Q1 2025, is subject to regulatory approvals and other customary closing conditions. Announcement • Dec 21
Modon Holding PSC (ADX:MODON) acquired La Zagaleta S.L. Modon Holding PSC (ADX:MODON) acquired La Zagaleta S.L. on December 19, 2024. This acquisition sets a benchmark for future expansion that is fully aligned with Modon Holding’s ambition to consistently surpass expectations, and brings new potential and capability to our international real estate strategy.
Modon Holding PSC (ADX:MODON) completed the acquisition of La Zagaleta S.L. on December 19, 2024. Announcement • Oct 23
Modon Holding P.S.C Launches Phase One of Maysan, a Freehold Development on Reem Island Modon Holding P.S.C has launched Maysan, a high-end freehold residential development located on Reem Island. The first phase of the project features two districts: Mayar and Thoraya. Blending innovation and creativity, the overall design of the over-600,000-square-metre project is inspired by boutiquestyle inside/outside living. The first district, Mayar, consists of 132 stacked maisonettes – a new concept in Abu Dhabi – that seamlessly blend the immersive beauty of nature with modern living. These thoughtfully designed spaces create a vibrant community, providing enriching and unforgettable experiences. Inspired by contemporary gallery elegance, the maisonettes are designed to meet the diverse needs of modern lifestyles. They cater to large families wishing to keep their loved ones close, investors looking for control over their own apartment buildings and individuals desiring the convenience of apartment living in a resort-style development. The exquisite four-storey maisonettes are nestled within a secure, gated community boasting a spacious spine park, perfect for leisurely strolls along its scenic walking trails. The second district, Thoraya, combines contemporary sophistication with a sense of community. Using elegant materials, its 184 architecturally stunning townhouses create a captivating visual landscape, guarded by a private entrance that ensures both exclusivity and security. This district will feature communal gardens, children’s play areas and a gym, providing a perfect balance between relaxation and recreational activities while celebrating the beauty of nature. Targeting a diverse range of consumer segments in the UAE capital, including families, professionals, investors and expats, Maysan will feature curated lifestyle amenities, a community centre as well as beach and park access. Connected through a walkable green spine, the exclusive holistic living destination promotes wellness and a healthy lifestyle. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to د.إ3.85, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 14x in the Industrials industry in United Arab Emirates. Total returns to shareholders of 5.5% over the past three years. New Risk • Sep 19
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 5.5% 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: Major Risks High level of non-cash earnings (32% accrual ratio). Shareholders have been substantially diluted in the past year (138% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (5.5% average weekly change). Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: د.إ0.02 (vs د.إ0.075 in 2Q 2023) Second quarter 2024 results: EPS: د.إ0.02 (down from د.إ0.075 in 2Q 2023). Revenue: د.إ1.65b (up 318% from 2Q 2023). Net income: د.إ324.9m (down 37% from 2Q 2023). Profit margin: 20% (down from 130% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Mar 01
Q Holding PSC announced that it expects to receive funding from Abu Dhabi Developmental Holding Company PJSC, Ihc Capital Holding LLC Q Holding PSC announces private placement of 25,627,000,000 convertible bonds on February 28, 2024. The transaction will include participation from ADQ Real Estate and Hospitality for 17,087,770,000 bonds and IHC Capital Holding for 8,539,230,000 bonds. The bonds will be convertible into 9,491,481,482 shares using a conversion ratio of 2.70 bonds for each share. New Risk • Feb 29
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 138% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (138% increase in shares outstanding). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (52% net profit margin). Reported Earnings • Feb 01
Full year 2023 earnings released: EPS: د.إ0.069 (vs د.إ0.14 in FY 2022) Full year 2023 results: EPS: د.إ0.069 (down from د.إ0.14 in FY 2022). Revenue: د.إ994.3m (up 46% from FY 2022). Net income: د.إ457.2m (down 49% from FY 2022). Profit margin: 46% (down from 132% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Announcement • Nov 24
Q Holding PSC, Annual General Meeting, Nov 28, 2023 Q Holding PSC, Annual General Meeting, Nov 28, 2023, at 11:00 Coordinated Universal Time. Agenda: To consider Approve the shortening of the duration of the invitation of convening the general assembly to be less than 21 days; Approve by a special resolution the Company's acquisition of the entire shareholding of ADQ Real Estate And Hospitality Investments L.L.C and IHC Capital Holding LLC in Modon Properties PJSC and its assets; and to discuss other matters. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to د.إ2.96, the stock trades at a trailing P/E ratio of 45.6x. Average trailing P/E is 5x in the Industrials industry in United Arab Emirates. Total returns to shareholders of 202% over the past three years. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to د.إ2.83, the stock trades at a trailing P/E ratio of 43.6x. Average trailing P/E is 6x in the Industrials industry in United Arab Emirates. Total returns to shareholders of 195% over the past three years. New Risk • Jul 28
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: 57% Last year net profit margin: 140% 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. 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 (57% net profit margin). Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: د.إ0.075 (vs د.إ0.088 in 2Q 2022) Second quarter 2023 results: EPS: د.إ0.075 (down from د.إ0.088 in 2Q 2022). Revenue: د.إ394.7m (up 246% from 2Q 2022). Net income: د.إ511.5m (down 2.7% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 34% per year, which means it is well ahead of earnings. Buying Opportunity • May 31
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be د.إ2.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has declined by 15%. Buying Opportunity • May 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be د.إ2.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has declined by 15%. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to د.إ2.74, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 14x in the Industrials industry in United Arab Emirates. Total returns to shareholders of 149% over the past three years. Buying Opportunity • Mar 15
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 36%. The fair value is estimated to be د.إ3.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has declined by 15%. Reported Earnings • Feb 08
Full year 2022 earnings released: EPS: د.إ0.14 (vs د.إ0.095 in FY 2021) Full year 2022 results: EPS: د.إ0.14 (up from د.إ0.095 in FY 2021). Revenue: د.إ720.3m (up 83% from FY 2021). Net income: د.إ901.3m (up 464% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment deteriorated over the past week After last week's 15% share price decline to د.إ3.72, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 25x in the Industrials industry in United Arab Emirates. Total returns to shareholders of 325% over the past three years. Board Change • Nov 16
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Director Jasim Ahmed AL Ali is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improved over the past week After last week's 17% share price gain to د.إ4.33, the stock trades at a trailing P/E ratio of 38.3x. Average trailing P/E is 32x in the Industrials industry in United Arab Emirates. Total returns to shareholders of 356% over the past three years. Reported Earnings • May 01
First quarter 2022 earnings released: EPS: د.إ0.023 (vs د.إ0.021 in 1Q 2021) First quarter 2022 results: EPS: د.إ0.023 (up from د.إ0.021 in 1Q 2021). Revenue: د.إ283.6m (up 165% from 1Q 2021). Net income: د.إ127.6m (up د.إ109.0m from 1Q 2021). Profit margin: 45% (up from 17% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has increased by 71% per year, which means it is well ahead of earnings. Board Change • Apr 27
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Director Jasim Ahmed AL Ali is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Jan 28
Al Qudra Holding PJSC, Annual General Meeting, Feb 22, 2022 Al Qudra Holding PJSC, Annual General Meeting, Feb 22, 2022, at 11:00 Coordinated Universal Time. Agenda: To approve the annual report of the board of directors on the company’s activity, financial position, and its corporate governance report during the financial year ended on 31st December 2021; to approval of the auditor’s report for the financial year ended on 31st December 2021; to discuss the board of directors’ proposal regarding non-distribution of dividends to the shareholders for financial year ended on 31st December 2021; and to discuss other matters. Reported Earnings • Jan 27
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: د.إ0.10 (down from د.إ0.18 in FY 2020). Revenue: د.إ448.9m (down 13% from FY 2020). Net income: د.إ159.9m (up 5.0% from FY 2020). Profit margin: 36% (up from 30% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 81% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improved over the past week After last week's 17% share price gain to د.إ7.12, the stock trades at a trailing P/E ratio of 43.4x. Average trailing P/E is 12x in the Industrials industry in Asia. Total returns to shareholders of 790% over the past three years. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improved over the past week After last week's 52% share price gain to د.إ5.60, the stock trades at a trailing P/E ratio of 34.1x. Average trailing P/E is 11x in the Industrials industry in Asia. Total returns to shareholders of 522% over the past three years. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improved over the past week After last week's 20% share price gain to د.إ3.78, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 11x in the Industrials industry in Asia. Total returns to shareholders of 320% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 15% share price gain to د.إ3.33, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 11x in the Industrials industry in Asia. Total returns to shareholders of 217% over the past three years. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improved over the past week After last week's 18% share price gain to د.إ2.35, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 11x in the Industrials industry in Asia. Total returns to shareholders of 139% over the past three years. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improved over the past week After last week's 16% share price gain to د.إ2.99, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 11x in the Industrials industry in Asia. Total returns to shareholders of 220% over the past three years. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 20% share price gain to د.إ1.13, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 12x in the Industrials industry in Asia. Total returns to shareholders of 12% over the past three years. Is New 90 Day High Low • Mar 01
New 90-day low: د.إ0.95 The company is down 10.0% from its price of د.إ1.05 on 30 November 2020. The Emirian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Industrials industry, which is up 7.0% over the same period. 
