Recent Research

• 

  FIRST LOOK NOTES

  04 Mar 2025

  A D N H Catering PLC

  BUY

  Last Closing Price

  AED 0.93

  Target Price

  AED 1.30

  Upside (%)

  +40.54%

  UAE Equity Research - ADNH Catering PLC 4Q24 - First Look Note

  The Company had 283 clients and 388 total contracts as of 4Q24, with a strong contract retention rate of 97% over the 15-month period ending December 31, 2024.

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• 

  EARNINGS CALL INSIGHT

  13 Feb 2025

  A D N H Catering PLC

  BUY

  Last Closing Price

  AED 0.90

  Target Price

  AED 1.30

  Upside (%)

  +44.28%

  UAE Equity Research - A D N H Catering PLC (ADNHC) 4Q24 - Earnings Call Insight

  Revenue increased 12.0% YOY to AED 443 Mn in 4Q24, primarily driven by strong organic growth owing to new contracts in the Business & Industry and Private Healthcare sector along with support from acquisitions.

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• 

  INITIAL COVERAGE (EQUITIES)

  05 Dec 2024

  A D N H Catering PLC

  BUY

  Last Closing Price

  AED 0.93

  Target Price

  AED 1.30

  Upside (%)

  +39.78%

  UAE Equity Research - A D N H Catering PLC (ADNHC) - Initiation Coverage

  We initiate coverage on A D N H Catering PLC (“ADNHC”, “A D N H Catering”, or “the Company”) with an equity valuation of AED 1.30 per share. A D N H Catering is the UAE’s largest food and support services company. The Company is a subsidiary of ADNH (Abu Dhabi National Hotels) known for its expertise in hospitality and food services.

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