Al Ramz Corporation PJSC Announces Results for the first half of 2024

Al Ramz Corporation PJSC Announces Results for the first half of 2024

•    Al Ramz Corporation reports net profit of AED 2.4 million during the first half of 2024
•    Corporate finance and advisory revenues surged by 74%
•    Launch of US markets trading, unlocking new investment opportunities.
•    Expanded liquidity provision mandates through landmark appointments

Dubai, UAE; August 5, 2024: Al Ramz Corporation PJSC (UH: ALRAMZ), a prominent non-banking financial institution in the UAE, today reported its financial results for the first half of 2024.  The company reported a net profit of AED 2.4 million.

The Group successfully maintained its non-investment revenue streams, demonstrating its resilience and adaptability, despite facing backlash from regional geopolitical tensions and a subdued market environment. Notably, the investment-adjusted quality of earnings increased by 49% compared to the previous period.

Major Wins for Liquidity Providing: Al Ramz achieved significant milestones in its liquidity provision services. Al Ramz was appointed as a liquidity provider for both Abu Dhabi Ports Company PJSC (ADX: ADPORTS), a leading facilitator of global trade, logistics, and industry, and ADNOC Drilling Company PJSC (ADX: ADNOCDRILL), the largest drilling and well completions company in the Middle East by fleet size.  These appointments underscore Al Ramz's ability to deliver tangible results and establish itself as a prominent leader in market-making and liquidity provision within the UAE capital markets.
 
Non-investment revenues: Corporate finance and advisory revenues surged by 74% while financing revenues grew by 9% for the same period.  Growth in non-investment revenues underscores the Group's commitment to sustainable financial performance.

Strategic App Enhancement: US Market Trading In a significant enhancement of our trading app, Al Ramz introduced US market trading for our customers in Q2 2024.  This enhancement represents a major milestone in the Group's growth strategy, enabling our clients to access one of the world's largest and most dynamic financial markets. This initiative underscores Al Ramz's commitment to broadening its service offerings and providing greater investment opportunities to our customers.

Mohamad Al Mortada Al Dandashi, Group Managing Director at Al Ramz Corporation, commented on the Group's first half of 2024 performance: “we are pleased to report steady non-investment revenues and a significant increase in corporate finance and advisory revenues. These results affirm our confidence in navigating dynamic market conditions and highlight our resilience as an organization.  The introduction of US market trading in our app further strengthens our position and opens new growth opportunities. Furthermore, our recent appointments as liquidity provider for ADNOC Drilling Company PJSC and Abu Dhabi Ports Company PJSC are testament to our market-making expertise and our commitment to enhancing liquidity and optimizing trading conditions for leading regional companies.

Commitment to Shareholder Value and Sustainable Growth We remain steadfast in our strategic focus on creating shareholder value and operating sustainably within the dynamic financial landscape. By investing in human capital and enhancing our proprietary trading platform, we aim to adapt to and anticipate market recovery, ultimately forging a robust, forward-looking business model.

Future Outlook and Strategic Priorities Looking ahead, Al Ramz is committed to enhancing its value proposition through strategic initiatives, including expanding its market presence, improving operational efficiencies, and maintaining a strong focus on sustainable growth.  We are confident in our ability to navigate the current challenges and capitalize on future opportunities."

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ABOUT AL RAMZ 
Founded in 1998, AI Ramz is a UAE domiciled public joint stock company listed on the Dubai Financial Market and regulated by the UAE Securities and Commodities Authority and the Dubai Financial Services Authority. Al Ramz provides a broad spectrum of services including asset management, corporate finance, brokerage, security margins, market making, liquidity providing, public offering management and financial research.