Senaat, one of the UAE’s largest industrial investment holding companies, has stated that its EBTIDA during the first half of 2015 surpassed AED1 billion, up 18 percent from H1, 2014. The company’s net profit also grew by 20 percent to AED453 million in H1, 2015.

Over the last decade, Senaat successfully grew its profits and enhanced its sustainable income sources as it doubled its EBITDA and increased its total assets by more than seven times. The company’s financial strength enhances its preparedness and readiness to execute future ambitious industrial development projects in the UAE.

Senaat’s revenues for the first half of this year were AED6.8 billion, up 2.5 percent from AED6.6 billion in the same period last year.

Hussain Jasim Al-Nowais, chairman of Senaat, said: “Senaat strived since it was reincorporated in 2004 to achieve three key goals. The first is contributing significantly and effectively to the development of the UAE's industrial sector. The second is the development of qualified national cadres capable of leading and managing industrial enterprises and investments. While the third goal is to strengthen the company’s financial position and create sustainable revenue sources that will enable it to execute the government’s vision and implement its investment plans without burdening the government financially.”

Al-Nowais highlighted that Senaat has achieved the first goal as the company has contributed significantly to the development of the industrial sector by introducing, establishing and developing multiple projects that operate in four key industrial sectors defined by Abu Dhabi's Economic Vision 2030.

Senaat is the UAE’s largest industrial holding company, managing assets for the government of Abu Dhabi. Senaat is fully owned by Abu Dhabi government and has been mandated to create, optimize, promote and champion capital and power intensive assets in the UAE.