ALEC Holdings reported nine-month revenue of AED 13,896 million and owners' profit of AED 589 million, up from AED 8,906 million and AED 430 million.
ALEC Holdings PJSC, the Dubai engineering and construction group listed on the Dubai Financial Market (DFM), said on Wednesday its nine-month revenue rose to AED 13,896 million from AED 8,906 million, with owners’ profit of AED 589 million.
The unaudited financial information for the nine months to September 30 shows owners’ profit of AED 589.2 million, against AED 430.1 million for the same period of 2025.
The company said the figures were reviewed by its auditor, Deloitte & Touche (M.E.).
Contract revenue for the three months to September 30 was AED 4,906 million, compared with AED 3,544 million in the third quarter of 2025.
Profit attributable to owners in the quarter was AED 374.9 million, against AED 192.2 million a year earlier.
Basic and diluted earnings per share were AED 0.075 for the quarter, against AED 0.038, and AED 0.118 for the nine months, against AED 0.086.
Nine-month gross profit rose to AED 1,075.8 million from AED 859 million. Contract costs grew faster than revenue, reaching AED 12,820 million from AED 8,047 million.
Administrative expenses were AED 356.1 million, against AED 312.6 million.
Profit before tax was AED 671.6 million, up from AED 487.3 million, and income tax expense was AED 82.5 million, against AED 55.7 million.
Net finance costs were AED 81.9 million, compared with AED 49.8 million in the nine months to September 2025.
Net cash from operating activities was AED 505.6 million, down from AED 1,052.7 million a year earlier.
The company spent AED 407.2 million on property, plant and equipment, against AED 301.3 million, and put AED 470.9 million into short-term investments.
Bank borrowings of AED 1,029.9 million were drawn, and AED 485.1 million repaid. Cash and bank balances stood at AED 1,404 million at September 30, against AED 1,574.5 million at December 31, 2025.
Total assets rose to AED 12,837 million from AED 10,622 million at the end of 2025.
Shareholders approved a cash dividend of AED 0.05 per share, totalling AED 250 million, on March 24, and it was paid on April 24.
Ahead of its listing, the company said it intended to distribute AED 200 million in April, followed by AED 500 million for the financial year, payable in October and April 2027, according to the Dubai Media Office.
It also said it intended to pay dividends twice a year, in April and October, with a minimum payout ratio of 50 per cent of net profit, subject to Board approval.
ALEC completed its initial public offering on the DFM on October 15, 2025, under the ticker ALEC. Its immediate parent company sold 20 per cent of its shareholding to the public and kept 80 per cent.
The offering was priced at AED 1.40 per share, implying a market capitalisation of AED 7 billion at listing. The sale of 1 billion existing shares raised AED 1.4 billion.
The group’s activities include building construction, infrastructure, earth and civil works, and industrial process plants, in both onshore and offshore projects.
During the period it also set up two new subsidiaries: ALEC Tunnelling and Drainage Contracting L.L.C on July 17, in which it holds 70 per cent, and Altura Factory LLC on September 1, in which it holds 65 per cent.
