Dubai: Abu Dhabi’s Multiply Group – a key investor in DEWA and Taqa – has pulled out a Dh18.56 billion net profit for 2022, driven by growth in the operating portfolio.

“Despite several global headwinds, most subsidiaries showed growth in operating profits, highlighting the strength of these businesses and the resilience of their industries,” Multiply said in a statement.

“We have a strong balance-sheet, Dh41 billion of assets in 2022, and significant capacity to deploy capital at a time when valuations are softening and our focus industries are gaining more traction amid the current macroeconomic and geopolitical backdrop,” said Samia Bouazza, Group CEO and Managing Director.