With a 36% Profit Increase Year on Year, Ducab Group Achieves Notable Gains in 2020

Business

With a 36% Profit Increase Year on Year, Ducab Group Achieves Notable Gains in 2020

Successes credits to agility in delivery, focus on customer experience, and clear business continuity planning
Eng. Jamal Salem Al Dhaheri also affirmed as the companys new Chairman
Company looks to the latest Operation 300bn strategy as a platform to strengthen its strategic partnerships across the industrial value chain

One of the UAEs largest industrial manufacturing businesses - Ducab Group, has confirmed substantial gains across all three of its business units in 2020, attaining a collective year-on-year profit increase of 36% despite the challenging global conditions resulting from the COVID-19 pandemic.

Ducab Group was able to achieve outstanding results while serving our customers internationally with the same level of excellence they always expect from us. The companys ongoing focus on product diversification provided Ducab with a strong foundation going into 2020. We have always been keen to explore new markets and opportunities, and were able to support strategic projects around the world and across different vertical sectors including energy, transportation, industry, and many others in 2020. We will continue to do this in the year ahead. said, Mohammed A. Al-Mutawa, CEO of Ducab Group.

In the previous Board meeting, Ducab also confirmed the appointment of Eng. Jamal Salem Al Dhaheri as the companys new Chairman. Eng. Jamal takes over Dr. Ahmad Bin Hassan Al Shaikh, who served as Chairman from 2019-2021. The companys chairmanship is rotated twice a year between Ducabs equal shareholders ADQ (through Senaat) and the Investment Corporation of Dubai (ICD).

The outgoing Chairman, Dr. Ahmad Bin Hassan Al Shaikh, has welcomed Eng. Jamal Salem Al Dhaheri into his new role. The past year has offered us a lot of lessons. I am proud that we have remained resilient and determined to achieve our objectives, and delivered an exceptional performance last year. I am confident that Eng. Jamal will continue that sense of optimism while developing the best talents and technologies for future growth, noted Al Shaikh.

Speaking on his appointment, Eng. Jamal Salem Al Dhaheri said: The strategic development of Ducabs business last year, despite a global pandemic, has been remarkable. I highly commend Dr. Ahmad for his strong direction, which has seen numerous milestones reached across the organisation. Over the next two years, our Board will support Ducabs next chapter of expansion, reinforced by the highest international safety and sustainability standards, while contributing to the wider economic transformation of the UAEs industrial sector.

Ducab Business Unit Achievements

Ducab Cable Business (DCB), the vast business unit of the group, delivered a profit gain of 13%, with a product sales volume close to 80,000 conductor tonnes. DCB operations have continued undisturbed throughout the pandemic, manufacturing all of its cables and wires in the UAE for customers in the countrywhich remains the divisions largest single consumer marketas well as about 25 export markets.

Ducab Metals Business (DMB) saw a 33% profit gain year-on-year in 2020. The metals operation comprises Ducab Aluminium Company (DAC) and Ducabs Copper Rod Factory. DMB builds on the companys wide expertise in the field while capitalizing on the UAEs position in the global metallurgy markets. DMB sold close to 190,000 tonnes of metal products in 2020 to over 45 countries internationally.

Meanwhile, the Ducab High Voltage (DHV) business unit improved the overall margins by 42% in 2020 compared to the previous year. DHV was the first dedicated high voltage and extra-high voltage power cable manufacturing facility in the Middle East, and today offers a wide portfolio of tailored cable solutions on a turnkey basis. The division sold nearly 6,000 tonnes of specialized high voltage cable throughout 2020 to several regional Utilities and global EPCs.

There is continued demand locally and globally for the cable and metals products that we manufacture. Moreover, the recent launch of the Operation 300bn strategy by the UAE Ministry of Industry and Advanced Technology will serve as a platform for us to strengthen our strategic partnerships across the industrial value chain. We look forward to being an active contributor to the programs being rolled out as part of this comprehensive strategy, and to continue taking Made in UAE products to the world, added Eng. Jamal.

In addition to its product diversity and market expansion, Ducab took up several Emiratization initiatives in the last year. It was in 2020 that the company launched its new program, Bidayiti, which aims to enhance UAE nationals skills across different sectors, contributing towards the development of the countrys manufacturing industry.