Dubai – Mubasher: Majid Al Futtaim on Wednesday posted an 8% year-on-year increase in revenues for the full-year 2018, registering AED 34.6 billion ($9.41 billion).
EBITDA levelled up 9% year-on-year to AED 4.6 billion, while the company’s total assets reached AED 60.4 billion, according to the group’s statement.
The net debt of Dubai-based holding company stood at AED 12.6 billion by the end of 31 December, the leading shopping mall and leisure pioneer added.
“2018 has been a year of growth for our company, despite the macroeconomic challenges that affected consumer sentiment,” Alain Bejjani, CEO of Majid Al Futtaim Holding, commented.
He added that the company was working on diversifying its offerings and geographical presence, noting that its commitment to customer centricity and technology investments has yielded great results.
Over the year, Majid Al Futtaim continued to pursue investment opportunities to enhance its digital capabilities and deliver a seamless omni-channel customer experience.
It also entered into several strategic partnerships and acquisitions, including BEAM, Wadi and others, which complement the business offering and add a digital dimension to the portfolio.
