Through its 3 business units despite "Corona"
36% increase in Ducab's profits during 2020
Ducab Cable & Wire's sales volume reached about 80,000 tons of conductors.
From the source
Jamal Al Dhaheri: "The cable and metal products provided by the group are witnessing continuous growth in demand."
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Ducab Group, one of the largest manufacturing companies in the UAE, announced that it achieved gains across its three business units during the past year, recording a total growth of 36% in its profits, compared to 2019, despite the difficult circumstances imposed by the Coronavirus pandemic. ».
The group stated in a statement yesterday that the "Ducab Cable and Wire" unit, which is the largest in the group, recorded a growth of 13% in profits, as the volume of sales of its products reached about 80 thousand tons of conductors, indicating that the unit continued its operations during the pandemic without Interruption, and continued to manufacture cables and wires and provide them to its customers in the United Arab Emirates, which is the largest individual consumer of the unit's products in the market, and it also continued to export its products to about 25 other markets.
She mentioned that the Ducab Minerals unit witnessed a 33% growth in 2020, compared to 2019, as the unit sold about 190,000 tons of mineral products during the past year to more than 45 countries.
The group indicated that the “Ducab High Voltage Products” unit also witnessed a 42% improvement in gross margins during 2020, compared to 2019, as the factory sold nearly 6000 tons of specialized high voltage cables to several regional service companies and engineering, procurement and construction companies ( EPCs) around the world.
“We are proud to achieve these exceptional results, and to continue providing our distinguished services to our customers in the world, in accordance with the highest standards of excellence for which Ducab has always been known, as a result of the continuous effort that the company undertakes to enhance diversity,” said Ducab Group CEO, Mohamed Abdel Rahman Al-Mutawa. In its products, which allowed it to lay strong foundations for its business in 2020 ».
In the recent meeting of the Board of Directors, Ducab announced the appointment of Eng. Jamal Salem Al Dhaheri as the new Chairman of the Board of Directors, succeeding Dr. Ahmed bin Hassan Al Sheikh, who served as Chairman of the Board of Directors between 2019 and 2021.
The chairmanship of the board of directors of "Ducab" is rotated every two years between its shareholders: "Holding ADQ" (via "Industries") and "Investment Corporation of Dubai".
Al Dhaheri said, "Ducab's business has achieved a remarkable strategic development over the past year, despite the global pandemic that has cast a shadow over all sectors."
He added that "the cable and metal products provided by the group are witnessing continuous growth in demand rates at the local and global levels."
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