Al Mustaqbal Holding Co. held its Annual General Meeting today with a quorum of 77.5%, during which shareholders approved the financial statements for the fiscal year ended December 31, 2024, and the Board of Directors’ recommendation to distribute a 10% cash dividend to shareholders.
On this occasion, Chairman Waleed Al-Saqer stated that the company closed another year filled with both challenges and achievements, continuing its transformation journey while strengthening its financial position and reinforcing its identity as a robust, operational holding group with sustainable profits. These are supported by consistent cash inflows from its subsidiaries and associates, as well as value-accretive exits.
Al-Saqer highlighted that the company achieved exceptional performance this year, driven by a successful divestment from a key asset, generating significant benefits for both the company and its shareholders. The total proceeds from the exit amounted to KD 12.45 million, resulting in a realized gain of KD 5.74 million.
He noted that Al Mustaqbal Holding achieved the highest annual net profit growth in its history for FY 2024, reaching KD 4.55 million—an increase of 630% compared to KD 623,367 in 2023. Additionally, shareholders' equity rose by 18% to KD 22.85 million, up from KD 19.42 million a year earlier.
630% Growth in Net Profit Reaches KD 4.55 Million
To support its diversification strategy and optimize available liquidity, Al Mustaqbal Holding assigned a financial portfolio to KFIC (Kuwait Finance and Investment Company) to capitalize on market opportunities through a conservative and well-studied investment approach aimed at maximizing returns for shareholders. The company is also exploring new operational investments with recurring cash flows to build sustainable income in 2025.
Conservative Approach
In the Board’s report, Al-Saqer reaffirmed the company’s commitment to a prudent approach, high transparency, and adherence to governance standards. In line with this philosophy, the company set aside precautionary provisions amounting to KD 577,105. Efforts also continue to reduce unnecessary expenses and enhance revenues, supporting the Board’s objective of relying on internal resources without burdening shareholders with financing costs or debt risks. The company remains focused on strengthening its financial position and performance.
Mureed Al-Sultan: Studying Three Key Operational Opportunities to Be Clarified in Q4
Exited Education Sector with 422% ROI
Vice Chairman and CEO Mureed Al-Sultan emphasized the company’s disciplined and targeted investment approach, with a focus on operational assets, strong cash flows, and resilient sectors capable of withstanding market volatility. He explained that the company draws lessons from past experiences to shape future investments.
A Renewed Vision and Strategic Outlook
Al-Sultan noted that following the successful transformation into a holding structure and stabilizing its financials, the company is now focused on expanding its network of subsidiaries and affiliates. This is being pursued under a renewed strategic framework aimed at capturing sustainable, high-return opportunities that will drive long-term growth.
He reiterated that preserving and enhancing shareholder value remains the company's top priority. The company is actively exploring new investments—starting with opportunities in Kuwait and across GCC markets.
Five-Year Strategic Plan
Al-Sultan revealed that the company is finalizing a five-year strategic plan focused on high-cash-flow opportunities in core operational sectors. Speaking during a press briefing on the sidelines of the AGM, he identified key focus areas: investment, real estate, food, and healthcare.
He also disclosed that three significant investment opportunities are currently under evaluation, primarily in the real estate and investment sectors, with clarity expected in Q4 2025. Decisions will be based on investment feasibility, with strong preference given to high cash-flow-generating assets.
Responding to a question, Al-Sultan stated that the company, now operating as a holding entity, is focused on successful acquisitions. One of its notable moves was acquiring a strategic stake in KFIC. On the exit front, the company successfully divested from an education sector asset, achieving an outstanding 422% return on investment, and an internal rate of return (IRR) of 21.3%, one of the few benchmark-worthy exits in the market.
Strong Financial Position
Al-Sultan confirmed the company's solid financial standing, emphasizing that operations are self-funded and debt-free. At the same time, the company has access to substantial credit lines and financing offers from banks, which underscores market confidence in its strategy and asset quality.
He added that the company has a diversified investment portfolio, including positions in Kuwait and other GCC financial markets, with a particular focus on Kuwait, Saudi Arabia, and the UAE.
Outlook for 2025
Looking ahead, Al-Sultan expressed optimism about the company’s 2025 performance and its ability to maintain dividend payouts at the 10% level. He affirmed the Board and executive management’s commitment to maximizing shareholder value, enhancing cash flow, and maintaining strict cost control.