NEWS AND INSIGHTS

  • 24 Mar 2016

    Waha Capital AGM approves cash dividend of 20 percent

    Abu Dhabi, 24 March 2016 – Shareholders of Waha Capital PJSC (ADX: WAHA), a leading investment company based in Abu Dhabi, approved a cash dividend of 20 percent for eligible shares at the company’s Annual General Meeting held on Wednesday and chaired by H.E. Hussain Jasim Al Nowais, the company’s Chairman.

    Addressing shareholders, Al Nowais said: “Waha Capital delivered impressive results in 2015, thanks to an increasingly diversified portfolio of investments, which performed well despite the challenging global markets backdrop. The company’s financial strength, and in particular our very healthy cash position, has allowed the company to allocate a dividend of AED 0.20 per share, which is highly competitive in the current environment. The company remains focused on building shareholder value, by investing prudently in high potential areas of the regional economy”.

    Waha Capital reported a 2015 net profit of AED 588 million, driven by key investments in the aircraft leasing and consumer finance sectors, as well as a strong performance by the company’s capital markets portfolios. This represented a return on equity of 14.3 percent, which is one of the highest figures achieved for 2015 by a publicly listed company in the region.

    Waha Capital is focused on continuing to drive growth in the business and is committing additional capital to expand its principal investments. The company has also launched an asset management platform, which is offering investors access to high potential regional capital markets and private equity opportunities and is also investing significant seed capital in these new funds.

    During the Annual General Meeting, shareholders approved amending the Company’s Articles of Association to comply with the new Commercial Companies Law, subject to obtaining regulatory approval.

    Al Nowais concluded the meeting by thanking the leadership of Abu Dhabi, represented by His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE and His Highness General Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, for their unstinting support to all national companies.

    He also thanked the company’s shareholders, partners, clients, Board members, management team and staff for their continuing commitment and contribution to the group's success.

  • 28 Feb 2016

    Waha Capital recommends cash dividend of 20 percent

    Abu Dhabi, 28 February 2016 – The Board of Directors of Waha Capital PJSC (ADX: WAHA), a leading Abu Dhabi investment company, has recommended distribution of a cash dividend of 20 fils per share, equivalent to 20 percent of its paid-up capital, for eligible shares.

    H.E Hussain Jasim Al Nowais, Chairman of Waha Capital, said: “Thanks to our increasingly diversified portfolio of investments, Waha Capital produced a strong performance in 2015 despite challenging market conditions, and we believe the proposed dividend reflects this. We remain fully focused on maximizing shareholder value. Our robust balance sheet, and in particular our healthy cash position will allow Waha Capital to deepen and broaden our investments in high potential areas of the regional economy.”

    The recommendation was made at a Board meeting held on Thursday 25th February, which also approved the company’s 2015 audited financial statements, corporate governance report for 2015, and the company’s proposed new Articles of Association to comply with the new Companies Law. The company’s annual general meeting (AGM), which will be held on 23 March 2016 at 4 pm (subject to regulatory approval), will consider and vote on the company’s financial statements, proposed dividend, proposed Board fees, appointment of the company’s auditors, and approval of the new Articles of Association.

    Waha Capital reported a 2015 net profit of AED 588 million, driven by key investments in the aircraft leasing and consumer finance sectors, as well as a strong performance by the company’s capital markets portfolios. This represented a return on equity of 14.3 percent, which is one of the highest figures achieved for 2015 by a publicly listed company in the region.

    Net profit for 2015 was 18 percent higher than the adjusted net profit of AED 498.1 million achieved a year earlier, after taking out net non-recurring items, primarily the one-off gain that the company recorded in 2014 on the company’s stake in AerCap Holdings.

    Waha Capital is focused on continuing to drive growth in the business and is committing additional capital to expand its principal investments. The company has also launched an asset management platform, which is offering investors access to high potential regional capital markets and private equity opportunities. Waha Capital is investing significant seed capital in these new funds to take advantage of these investment opportunities, and to align interests with third-party investors.

  • 1 Feb 2016

    Waha Capital reports net profit of AED 588 million in 2015

    ABU DHABI, 1 February 2016: Waha Capital PJSC, a leading investment company based in Abu Dhabi (ADX: WAHA), has reported a 2015 preliminary net profit of AED 588 million. Earnings were driven by key investments in the aircraft leasing and consumer finance sectors, as well as a strong performance from the company’s capital markets portfolios.

    Net profit for 2015 was 18 percent higher than the adjusted net profit of AED 498.1 million achieved a year earlier, after taking out net non-recurring items, primarily the one-off gain that the company recorded in 2014 on the company’s stake in AerCap Holdings. Reported net profit in 2014, prior to adjustment, was AED 1,732.7 billion.

    Earnings per share were reported at AED 0.31 for 2015, compared to the adjusted figure of AED 0.26 achieved during the corresponding period in 2014, which represents an increase of 19 percent.

    The company’s fourth-quarter net profit totalled AED 121 million, down 15 percent from the net profit of AED 142.1 million in the same period in 2014.

    The preliminary results, which represented a return on average equity in 2015 of 14.3 percent, were announced following a Board meeting in Abu Dhabi chaired by His Excellency Hussain Jasim Al Nowais, Chairman of Waha Capital.

    Commenting on the results, His Excellency Al Nowais said: “2015 was another strong year for Waha Capital, with the portfolio of investments delivering an impressive performance, particularly given the tough global macro-economic and capital market environments. Our direct investments, especially those in the UAE, continued to register strong growth, while the capital markets portfolios both gave impressive returns amid volatile conditions. Waha Capital’s commitment to asset diversification, including in defensive sectors such as healthcare, and our strategy to increase the proportion of liquid assets on our balance sheet, should help the company continue to deliver above-market returns in the coming years.”

    Salem Rashid Al Noaimi, Chief Executive Officer and Managing Director of Waha Capital added: “The strong growth delivered by Waha Capital over the last three years has enhanced shareholder value and placed the company in a robust financial position. In order to maximise return on equity in the coming years, we have launched a nimble, fee-generating investment management business, where we will offer access to our expertise and investment opportunities to third party investors. Our strong business networks and experience of investing through multiple business cycles gives Waha Capital an edge as we look to deploy additional capital in high-potential sectors.”

    Waha Capital’s Principal Investments and Capital Markets divisions both performed well. On the Principal Investments side, Anglo Arabian Healthcare (AAH) Group expanded its footprint further in 2015 by making further acquisitions in specialty healthcare services, acquiring majority stakes in Health Bay Polyclinic and in Oras Medical Centre LLC. Dunia Finance, a UAE-based consumer finance company in which Waha Capital owns a 25 percent stake, continued on its strong growth trajectory, and has delivered an average 34 percent return on equity over the last three years.

    New York-listed AerCap Holdings, in which Waha Capital currently owns a 15.6 percent stake, purchased 46 new aircraft, signed lease agreements for 276 aircraft, and executed sale and part-out transactions for 83 aircraft in 2015. During the year, the company signed financing transactions for US$7.3 billion.

    National Petroleum Services (NPS), in which Waha Capital holds a 20.2 percent stake, witnessed a solid performance in 2015 despite the downturn in global energy markets. During the year the company secured contracts worth AED 150.6 million, taking total contracts-in-progress to AED 1,212.5 billion, as at 31 December 2015.

    On its part, the Capital Markets division once again delivered a strong performance, despite a difficult backdrop for emerging markets. Waha Capital’s MENA equity portfolio delivered a total return of 10.8 percent, far outperforming the negative 17.4 percent given by the S&P GCC Index. Waha Capital’s CEEMEA fixed income portfolio produced a total return of 9.8 percent.

Share Price

4/28/2016 1:38:41 PM
Last
2.05 AED
Change
 -0.01  (-0.49%)
High/Low
2.06/2.04
Volume
616,993

VIDEOS

Waha Capital CEO & MD Salem Al Noaimi Interview with Prospect Group

 

  • Waha Capital CEO & MD Salem Al Noaimi announces New Healthcare Investment

    “Waha Capital today announced a new investment in the healthcare sector through its acquisition of Anglo Arabian Healthcare (AAH), a healthcare group with investments focused on the Northern Emirates and Abu Dhabi. One of the objectives of this investment is to diversify Waha Capital’s sources of income, in line with our business strategy which we formulated 4-5 years ago. We have thankfully succeeded in implementing this strategy, and this investment complements it.

    Entering the Healthcare sector is very important to Waha Capital as it holds high growth potential and is a government priority for the UAE. We will look to increase our investments within this sector in the next three to five years, and plan to make this sector a greater contributor to Waha Capital’s revenues.”