Posted inMarket DataLatest NewsNewsUAE

Ducab sees revenue leap 19% despite global headwinds

Ducab revenue passed $1.8bn in 2022, despite lingering challenges of pandemic and international supply concerns

Khalid Lootah, Chairman Ducab Group
Khalid Lootah, Chairman of Ducab Group

Ducab Group, one of the UAE’s largest end-to-end energy solutions providers and industrial manufacturing businesses, has reported year-on-year revenue increase of 19 per cent.

The group’s metal business alone posted more than 23 per cent in year-on-year growth, followed by the cable business with more than 9 per cent.

Ducab Group’s financial results for 2022 reveal that despite lingering challenges from the pandemic years, as well as new threats in certain international markets and the global economy, the Group will report more than 8 percent growth in earnings before interest, taxes, depreciation, and amortisation (EBITDA).

Ducab annual results

The Group posted total annual revenue of $1.8bn (AED6.6bn).

Ducab Metals Business (DMB), one of Ducab Group’s main business units, is set to triple its profits compared to 2021, driven by increased turnaround from its Al business.

DMB produces copper and aluminium rods and conductors, which are used to manufacture electric wires, cables, high-voltage lines, and overhead conductors.

Khalid Lootah, Chairman of the Group, said: “Ducab Group’s financial results reflect our growing business and continuously expanding network of markets and influential partners around the world.

“We remain committed to expanding our footprint to new key markets around the world. Our products, all proudly made in the UAE, are now exported to 55 countries.

“This forms part of our efforts to contribute towards achieving the objectives of the national strategy for industry and advanced technology – Operation 300 billion – which, in turn, helps position the UAE as an innovative and globally competitive manufacturing hub.

Lootah also noted that Ducab Group recently announced the opening of its new headquarters in the Indian city of Bengaluru, making India the new home market for the group.

“The expansion is in line with our vision to be a global provider of high-quality, integrated energy solutions, as well as our strategies to expand and consolidate our business in the global industrial sector.”

Follow us on

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.