Multiplay Achieves Impressive Q3 Earnings: Net Profits Soar to AED 1.95 Billion

UAE investment group Multiplay posted strong third-quarter results, with adjusted earnings jumping 56% to 597 million dirhams. But the real story is a massive 2.7 billion dirham profit from selling its cooling subsidiary, plus board approval for a game-changing merger that would create a 120 billion dirham investment powerhouse spanning 85 countries.

The company's adjusted EBITDA hit 597 million dirhams in Q3 2025, up from 382 million dirhams in the same period last year. This 56% increase came from strong organic growth across all business sectors, plus the consolidation of recently acquired Tandem company.

Multiplay completed the sale of Pal Holding for Cooling during the quarter, generating a net profit of 2.7 billion dirhams from the transaction. This helped push total net profits to 1.95 billion dirhams for the quarter. Meanwhile, operational portfolio revenues surged 191% year-on-year to reach 1.22 billion dirhams.

The company maintained a healthy gross profit margin of 58%, showing consistent profitability across its core business portfolio. It also kept a strong financial position with cash reserves of 2.50 billion dirhams.

Here's where it gets interesting for investors. Multiplay's board approved a proposed acquisition of "2 Point Zero" and "Ghiza Holding" through a share swap deal. This would create a diversified investment group worth 120 billion UAE dirhams, covering energy, food, logistics, packaging, mining, clothing, media, mobility, and beauty sectors across 85 countries.

The merger still needs shareholder and regulatory approval, but it represents a significant expansion of scale and efficiency for the combined entity. For the UAE's investment landscape, this signals continued consolidation among major players seeking global reach.

Multiplay's public markets investment arm, "Multiplay+," ended Q3 with a portfolio valuation of 31.5 billion dirhams, compared to an initial investment of 14.7 billion dirhams. This performance shows strong returns in the group's diversified investment strategy.

CEO Samia Bouazza highlighted how the 191% revenue growth reflects strong global performance across all business sectors. She noted that while non-organic initiatives boosted overall growth, organic EBITDA from operating companies still rose 20% year-on-year, led by the media and mobility sectors.

The company continues pushing digital transformation and integration initiatives across all sectors, using AI technologies to support operational efficiency and revenue momentum. This tech-forward approach appears to be paying off in both organic growth and operational improvements.

For regional investors, Multiplay's results show how UAE-based investment groups are scaling rapidly through strategic acquisitions while maintaining strong organic growth. The proposed mega-merger would create one of the region's largest diversified investment platforms, potentially setting a template for other regional players.