Page 57 - SALIK PR REPORT SEPTEMBER 2024

ADNH Catering currently serves up 11 million meals - in a month.
The parent entity ADNH is already a quite visible presence on the Abu Dhabi
stock market. (ADNH, which operates multiple luxury hotels in Abu Dhabi
and Dubai as its core business, had gone for a 1:10 stock split last year.)

Since 1979, ADNH Catering has been a core

component of the growth of the UAE’s

hospitality industry, partnering with government
and private sector clients across food services

and support services

- Khalaf Sultan Al Dhaheri, Chairman of ADNH Catering
ADNH Catering operates on-site kitchens for clients as well as having its own
massive central production facilities. The entity has a market share of 28 per
cent in the UAE as of end 2023. Plus, there is a joint venture in Saudi Arabia
with UK’s Compass Group.
Earlier this year, ADNH had bought out the 50 per cent held by Compass in
the UAE joint venture, paving the way for the renaming as 'ADNH Catering'
and the IPO now. Compass, itself listed on the FTSE, is a dominant name in
the UK’s catering and hospitality support services.

What's the dividend going to be?
For 2024, shareholders will get Dh60 million and next year will see that
increase to Dh180 million. In 2026, there will be a minimum 5 per cent
increase to the dividend.

Retail investors allotted 9.83%
In terms of allocations, retail investors get a chunky 9.83 per cent of the equity
on offer, while institutional investors get a say in 90 per cent of the IPO.
Also, preferential rights of up to 10 per cent will be made available to those
subscribers who are already existing shareholders in ADNH.
"We pride ourselves on our long-standing relationships with clients across
government and the private sector, with over 90 per cent of our contracts
lasting for over five years," said Clive Cowley, CEO of ADNH Catering.
"This success has been driven by a commitment to quality and a highly
efficient and well-invested operating base that enables us to serve over 260
clients across 350 contracts and more than 11 million meals per month. Our
strong operational performance generates a robust financial performance
driven by strong margins and high cash conversion."

GULFNEWS: ADNH Catering to be UAE's first IPO for action packed Q4-2024