Abu Dhabi-based Multiply Group targets more investments in 2023

By Arya M Nair, Official Reporter
  • Follow author on
Multiply Group 2023 expansion plan
Representational image

Multiply Group, the Abu Dhabi-based holding company, has set its strategic growth plan for this year targeting more investment in cash-generating and transformative businesses in 2023, diversified across its verticals and investment arm, Multiply+.

In 2022, Multiply Group registered 38.6 percent weighted average growth across its operating verticals, mobility, energy and utilities, beauty and wellness, and media and communications. All current anchors are cash-rich, are sources of sustainable recurring income, and are aligned with Multiply’s plans to continue to grow organically and inorganically.

In addition, the group is in advanced due diligence for several pipeline acquisitions, is working to prepare two verticals for IPO-scale, and is exploring entry into new verticals, namely fashion. Meanwhile, the Group’s investment arm, Multiply+, recorded particularly strong investment returns.

Samia Bouazza_Multiply Group 2023 expansion plan
Samia Bouazza
CEO & MD – Multiply Group

“2022 was a strong first year as a publicly listed company for Multiply Group. We recorded exceptional profits, predominantly driven by investment gains. Going forward, we will maintain our focus on growing and sustaining our core business profits, optimizing the asset-rich balance sheet that we built in 2022 and, as valuations are softening, identifying new investments which will derive shareholder value.”

Multiply’s diverse portfolio has reached a scale that positions it well to push ahead with its strategy to create medium to long-term value for its shareholders.

“This year our focus will be more on the business’s sustainable organic growth, however, Multiply will continue exploring new investment opportunities in 2023, which will reflect positively, yet differently, on our results in the next 12 months as our business is maturing,” Ms. Bouazza added.

Related: UAE’s Ducab Group expands its footprint in India with Bengaluru office