2PointZero reports AED9.5 billion nine-month profit as overseas investments expand

Abu Dhabi-based 2PointZero Group reported on October 30 that it earned AED9.5 billion in net profit on revenue of AED33.7 billion during the nine months to September 30, 2026, as it expanded its overseas energy investments.

The company said group profit increased 33% and revenue rose 106% on a pro forma basis following the merger that formed the business and the integration of retailer Tendam. Net fair value gains contributed AED5.8 billion to nine-month profit.

The National reported a separate earnings measure, profit attributable to owners, of AED8.59 billion, up from AED2.64 billion a year earlier. That more-than-threefold increase uses a different profit measure and comparison basis from the company's 33% pro forma growth figure.

Chief executive Samia Bouazza said operating profit supplied 33% of the AED9.5 billion total, including gains from artificial intelligence initiatives. The company put adjusted earnings before interest, tax, depreciation and amortisation at AED7.5 billion, excluding fair value movements and one-off items.

The quarterly picture was weaker. According to The National, third-quarter profit declined about 25% to AED1.5 billion as costs and expenses increased, although revenue rose to AED11.8 billion.

The group reported AED15.7 billion in cash and bank balances and assets totalling AED155 billion. Its net debt-to-equity ratio stood at 0.21 times.

The National said the energy and consumer investment group was formed in November 2025 through the merger of Multiply Group, Ghitha and 2PointZero.

In July, energy subsidiary ePointZero completed its first US natural gas investment, buying Traverse Midstream Partners outright for $2.25 billion in cash, according to company announcements.

The purchase brought stakes of 35% in the Rover Pipeline and 25% in the Ohio River System. Both systems are operated by Energy Transfer, the company said.

An August 31 disclosure said ePointZero had agreed to buy 90% of Azura Power Holding Limited, with completion dependent on regulatory approvals. The National reported that the purchase took place in August, but the group's October results announcement continued to describe it as an agreement.

According to the August disclosure, Azura operates power plants with combined capacity of 752 megawatts in Nigeria, Senegal and Mozambique. Its projects under development exceed 1.5 gigawatts.