E7 Group, a leading national industrial champion specializing in security printing, identity management solutions, packaging, printing, publishing, and logistics services, has reported an 82% year-on-year increase in net profit before tax for the nine months ending 30th September 2024, reaching AED 180.8 million.
Net profit after tax rose 65% to AED 164.5 million, with profit margins expanding to 33% from 21% during the same period last year. Revenues for the third quarter of 2024 amounted to AED 190.9 million, reflecting a 7% year-on-year increase, driven by new client acquisitions in the company’s packaging segment. Cumulatively, the Group’s revenues for the first nine months reached AED 491.7 million, up 6% from the prior year.
Ahmed Al Shamsi, Chairman of E7 Group, attributed the strong performance to the company’s strategic initiatives. “E7 delivered another excellent quarter, demonstrating clear progress in executing our growth strategy. We continue to see robust momentum in niche segments like security solutions and sustainable packaging, where we plan significant capacity expansion over the next 12 months,” he said.
The Group’s EBITDA for the period rose by 5% to AED 129.9 million, with margins stable at 31%, benefiting from long-term supply agreements and high capacity utilization.
Ali Saif Ali Abdulla Alnuaimi, Group CEO, highlighted the sustained performance across all segments. “Our strong third-quarter results reflect healthy performance across our portfolio. Strengthening long-term client contracts remains a priority, as it bolsters the visibility of future revenues,” he said.
With cash and bank balances standing at AED 1.44 billion at the end of the nine-month period, E7 Group is well-positioned to pursue strategic growth opportunities, including capacity expansions and investments in emerging business areas.