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Abu Dhabi-based E7 Group has announced a net profit before tax growth of 42% year-on-year in Q1 2024. The company, which provides commercial printing, security printing and solutions, sustainable packaging, and distribution services, attributes the strong trading period to continued economic growth in the UAE and increased demand for its expanding product suite. E7 Group's revenue remained stable year-on-year, with a slight 1% decrease to AED 126.0m due to a revised delivery schedule for a key contract. However, it expects EBITDA to improve throughout the year due to the phasing of delivery plans. The company also unveiled a new growth strategy aimed at sustainable profit growth, improved customer service, and diversification into high-value adjacent verticals.

The text is a review report and condensed consolidated interim financial information for E7 GROUP P.J.S.C. This report covers the financial performance of the company for the three-month period ending on 31 March 2024.

Fertiglobe announced Q1 2024 revenues of $552 million, down 20% from the previous year, and an adjusted EBITDA of $223 million, a 25% decrease year-on-year. The company's own-produced sales volume increased by 5% year-on-year, due to higher production and lower ending inventories. Fertiglobe is implementing a Manufacturing Improvement Plan, expected to generate at least $100 million in incremental annual adjusted EBITDA by the end of 2025. The company has also implemented $29 million of run rate savings by the end of Q1 2024 and aims to achieve a $50 million cost optimization target by the end of 2024. ADNOC's acquisition of OCI's majority 50% stake in Fertiglobe is expected to be completed in 2024, subject to regulatory approvals. Fertiglobe plans to enhance its operations through AI and predictive analytics. The company's shareholders have approved H2 2023 dividends of $200 million, with total 2023 dividends amounting to $475 million.