Modon Delivers Outstanding Growthin 2025, With AED 3.9 Billion In Net Profit And AED 46.0 Billion Revenue Backlog

Modon Holding PSC (“Modon”) delivered exceptional financial performance for the full year 2025 reporting revenue of AED 13.8 billion and net profit of AED 3.9 billion, reflecting a robust operatingmodel and an accelerated execution of its strategy. The Group achieved significant year-on-year growth in revenue and profitability on a comparable basis, excluding prior year one-off items.

2025 marked Modon’s first full year of consolidated results following its formation in February 2024. During 2025, L’imad Holding Company, wholly owned by the Abu Dhabi Government, acquired an 84.75% ownership stake in Modon Holding.Supported by a stronger and more sustainable corporate and financial backing, this strategic step strengthened the Group’s institutional foundation, accelerated delivery of its strategy, and enhanced its ability to achieve ambitious targets more efficiently.

Inthis period,the Group accelerated delivery of its strategy forbringing cities to life – integrating urban destinationswithsustainable communities, underpinned by an operating model that combines development, investment, and operations across its core business segments – reinforcingits foundations for sustainable growth and enhancing the Group’s long-term earnings visibility.

Real Estateled the Group’s growth during the year, underscored by record sales of AED 36.3 billion, supported by a strong business model and the effectiveness of its investment led approach. This performance reinforces sustainable growth and enhances long-term value for shareholders, underpinned bycontinuedprogress against an integrated strategic visionfocused on diversifying recurring income streams across core growth platforms, includingAsset & Investment Management, Hospitality, and Events, Catering & Tourism.

During the year, Modon advanced key Abu Dhabi developments, notably on Reem Island andthe Hudayriyat Island masterplan, delivering successive launches, repeat sell-outs in record time, and ongoing construction progress, while continuing toadvance the Ras El Hekma destination in Egypt. Group revenue backlog stood at AED 46.0billion, reinforcing forward earnings visibility and providing a strong foundation for sustained growth.

FY 2025Group Highlights

• Group revenue exceeded AED 13.8 billion, a 2.1x year-on-year increase, driven by the recognition of a deepening development backlog, improved performance across recurring revenue platforms, and contributions from strategic acquisitions.
• Group Adjusted EBITDA reached AED 4.9 billion, rising 2.5x year-on-year, with margins expanding by 521bps to 35.2%. Group net profit outpaced revenue growth, reaching AED 3.9 billion, up 19.9x year-on-year excluding prior-year one-off bargain purchase gain, reflecting strong operating performance across all core business segments.
• The Group closed the year with a net cash position of AED 1.8 billion, reflecting a well-capitalised balance sheet to support the development pipeline and strategic expansion agenda, while maintaining disciplined capital structure targets.
• Group revenue backlog stood at AED 46.0billion, up 1.8x year-on-year, with development salesaccounting for 93%, providing strong forward earnings visibility.
• Real Estate sales reached AED 36.3 billion across Abu Dhabi, Egypt and Spain, supported by rapid sell-outs of new launches in Abu Dhabi and for Wadi Yemm, the first district at Ras El Hekma, Egypt.
• Asset & Investment Management and Hospitality enhanced income visibility, through higher rental yields,strong occupancy and operational efficiency, supported by strategic expansion in the United Kingdom, the United States, and infrastructure-related platforms.
• Events, Catering & Tourism delivered strong growth, driven by record-breaking activity levels, operational expansion and strategic acquisitions including Arena Group, as well as the full-year impact of the consolidation of Business Design Centre (UK) and Royal Catering.