IC Dubai Generates AED169.4 billion in Revenues in 2021

  • Publish date: Tuesday، 31 May 2022
IC Dubai Generates AED169.4 billion in Revenues in 2021
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Investment Corporation of Dubai (ICD) announced its consolidated financial results for the year ended 31st December 2021, having generated revenues of AED169.4 billion and reported a net profit of AED10.1 billion.

Revenues were AED169.4 billion, up 24.5 percent compared to 2020, driven primarily by rallying commodities prices in oil and gas, higher levels of activity in transportation, and strong momentum in the other segment as global travel restrictions gradually eased. Expo 2020 Dubai also acted as a catalyst for the recovery.

The net profit attributable to the equity holder was AED5.5 billion.

The balance-sheet remained above AED1 trillion, with assets and liabilities down 1 percent respectively to AED1,101.1 billion and AED862.7 billion, primarily due to lower banking balances offsetting the growth of non-banking operational balances, and a cautious approach to CapEx deployment.

The Group's share of equity decreased by 1 percent to AED190.6 billion.