Alpha Data PJSC

What Alpha Data does

As of: 2026-08-04

Alpha Data PJSC is an Abu Dhabi technology integrator: it supplies and connects IT equipment and software, implements digital infrastructure, supports customers’ systems and provides specialist personnel. Its customers include government bodies and enterprises. The business began in 1981; its current priorities include cloud, cybersecurity, artificial intelligence and data infrastructure.

The listed issuer is Alpha Data PJSC, formerly Alpha Data LLC. Its legal name changed on 10 March 2025 and its shares were listed on ADX on 11 March 2025. The financial figures below cover the company and its consolidated subsidiaries, rather than the parent alone. The listing changed the corporate form and shareholder base of an established operating business.

Three different revenue engines

As of: 2026-08-04

Solutions integrates servers, storage, networks, security products and software into customers’ systems. Services provides technical support and continuing infrastructure and application management. Talent supplies outsourced specialists. These activities differ in procurement costs, staffing needs and gross margins; growth in equipment-heavy projects does not automatically produce the same profit growth as an expansion of managed services.

In H1 2026 management reported Solutions revenue of AED 1,236 million, Services of AED 132.8 million and Talent of AED 87.6 million. Their gross margins were approximately 10.0%, 42.5% and 15.7%, respectively. Services contributed 9.1% of revenue but 29.1% of group gross profit. These are management segment measures, and gross profit is before central administrative expenses, financing and tax.

Group structure and operating entities

As of: 2026-06-30

The H1 2026 accounts list seven wholly owned subsidiaries. In the UAE these include Tuqnia LLC OPC, Foresight Technology LLC OPC and the Abu Dhabi and Dubai Alpha Data Recruitment entities. Tuqnia focuses on computer and network activities, Foresight on software and systems, and the recruitment entities on supplying personnel.

The Qatar entities are Alpha Data Technology W.L.L. and Alpha Data Information Technology W.L.L.; the Saudi entity is Alpha Data Information Technology (Single Person Limited Liability Company). All are shown with 100% ownership at 30 June 2026. The FY2025 accounts separately described Alpha Data Technology W.L.L. in Qatar as under liquidation at that year-end; this should not be confused with the other Qatar subsidiary or treated as proof that liquidation has since completed.

Geography, delivery resources and pipeline

As of: 2026-08-31

The UAE remains the economic centre of the group. Management attributed 98.6% of H1 2026 revenue to the UAE, while Saudi revenue was AED 16.8 million and Qatar revenue AED 3.1 million. Saudi revenue declined 40.3% against the comparable half; management linked this to the timing of project intake and execution from a small base. Regional presence therefore should not be mistaken for a geographically balanced revenue stream.

The delivery model combines staff expertise, supplier relationships, equipment procurement and ongoing support. The corporate contact directory lists a digital transformation centre in Abu Dhabi and service and warehouse facilities in the UAE. At FY2025 management reported an approximate AED 1,200 million backlog. That dated pipeline measure is not cash, recognised revenue or a guarantee of future margin; the interim discussion emphasises the timing of execution.

IPO, shareholders and leadership

As of: 2026-08-04

The prospectus dated 13 February 2025 described a secondary offer of 400 million existing shares, or 40% of capital. Sale proceeds were for the selling shareholders, not new capital for Alpha Data. Its assumed post-offer structure was Bin Hamoodah Company LLC 40%, Ibbini Investment Company LLC 20% and subscribers 40%, conditional on full subscription. This is the prospectus structure, not a verified shareholder register for August 2026.

The prospectus’s English version is a convenience translation, with Arabic prevailing. It is used here for historical offering facts, not subscription advice. Fayez Saeed Mohamed Ibbini is identified as chief executive in the H1 2026 directors’ report; the company’s IPO materials also identify him as founder. Founder status and the named shareholder companies are distinct concepts.

Annual and interim financial results

As of: 2026-08-04

The table uses consolidated statutory figures, converted from AED to AED million and rounded to three decimals. FY2025 carries Deloitte’s audit opinion; H1 2026 is unaudited interim information subject to a limited review. Annual and half-year periods are shown separately. Operating cash flow uses the financial-statement definition, including its classification of finance income received.

FY2025 revenue grew 7.1%; management attributed the stronger gross margin to operational efficiency and a more profitable mix. H1 2026 revenue grew 11.7%, but gross profit grew only 4.3% and gross margin declined to 13.29% from 14.22%. Management attributed much of that movement to project execution timing and the comparison base. Administrative cost growth below revenue growth partly cushioned the profit impact.

Cash, financing and collection risk

As of: 2026-06-30

At 30 June 2026 cash and bank balances were AED 78.610 million, compared with AED 100.970 million at year-end. The notes separately report current trade finance of AED 8.553 million and non-current trade finance of AED 21.039 million. These supplier-purchase financing arrangements have original terms of 36–60 months and rates of 2%–5% a year. Showing both portions avoids mistaking only the non-current line for all trade finance.

Liquidity depends on collection and supplier terms as well as the cash balance. At the same date contract assets were AED 454.049 million and trade and other receivables AED 513.843 million. The receivables allowance was AED 48.910 million. Contract assets are distinct from invoiced receivables, and neither is cash. First-half operating cash generation improved, but rising supplier payables also helped fund delivery; that benefit depends on maintaining payment terms.

Distributions and corporate changes

As of: 2026-08-04

A cash dividend of AED 65 million was declared on 1 April 2026 and paid on 15 April 2026. This is a completed payment, unlike future payout guidance. The interim accounts state that the group did not purchase or invest in shares during the period. The prospectus’s secondary IPO proceeds should therefore not be presented as cash raised to fund operating expansion.

Management’s August 2026 outlook reiterated a distribution target of 80% of profits. This is a policy statement rather than a fixed future cash payment. In assessing its sustainability, readers should consider operating cash conversion, receivables, financing commitments and the needs of project delivery together with reported profit.

Strategy and execution conditions

As of: 2026-08-04

Management’s H1 2026 strategy prioritises AI and cloud offerings, closer vendor partnerships, a larger recurring-services book and specialist talent pools. It reiterated a 6.0% profit-before-tax margin target for 2026 and revenue growth in the low-to-mid teens. These are management expectations, not Dubaist forecasts.

Our reading is that the important test is profitable delivery, not merely announcing new technologies. Services can contribute disproportionately to gross profit, while Solutions still drives most revenue and procurement. Regional expansion, staffing and execution capacity must translate into completed projects and collected cash. A change in project mix can alter margins before the long-term strategy changes.

Principal business risks

As of: 2026-08-04

Customer and contract dependence, competitive pricing, cybersecurity, retaining technical capabilities and project execution are material business risks described by management. Revenue growth can coexist with margin compression or delayed cash receipts. The high UAE revenue share also means that a regional footprint does not eliminate exposure to domestic customer spending.

The H1 2026 notes identify heightened regional security, logistics, energy-supply and insurance risks. Management reported no identified operational disruption at the reporting date, but could not reliably quantify potential financial effects. That dated assessment should not be read as a guarantee about subsequent events.

Official contacts and source dates

As of: 2026-08-31

Official website: https://www.alpha.ae/; investor portal: https://www.alpha.ae/investors/. Investor enquiries: ir@alpha.ae; general corporate enquiries: marketing@alpha.ae. The published head office is Level 26, Addax Tower, Al Reem Island, Abu Dhabi; corporate telephone: +971 2 6333644. Contacts were checked on 31 August 2026.

The financial-results index checked on that date includes FY2025 and H1 2026. Annual results, interim results, management commentary and historical IPO terms have different dates and purposes. The source links below allow readers to follow those distinctions; this profile is original reporting and does not reproduce the underlying documents.

Sources

1. S1 · FY2025 consolidated financial statements · 2026-02-05
2. S2 · H1 2026 consolidated interim financial information · 2026-08-04
3. S3 · H1 2026 management discussion · 2026-08-04
4. S4 · FY2025 management discussion · 2026-02-05
5. S5 · IPO prospectus: English convenience translation · 2025-02-13
6. S6 · IPO and business overview · 2026-08-31
7. S7 · Official corporate contacts · 2026-08-31
8. S8 · Investor relations contacts · 2026-08-31
9. S9 · Financial results index · 2026-08-31