Connect with us

Tech News

Presight Delivers Record-Breaking Financial Performance for FY 2024

Published

on

Financial Performance

Presight AI Holding PLC recently announced its financial results for the full year ending December 31, 2024. Presight’s FY 2024 results saw record revenue of AED 2,213 million, an increase of 24.3% compared to FY 2023 as the Company continued to reap the rewards of its comprehensive offering, investments, and growth in international operations.

The strong performance reflected in EBITDA as well, which grew 25.2% YoY to AED 635.4 million due to a favourable deployment mix in FY 2024. At its bottom-line, the Company reported net profit after tax of AED 612.8 million, reflecting an increase of 7.4% YoY in FY 2024, including a maiden year of Corporation Tax.

Presight’s top-line performance came on the back of a growing proportion of multi-year contracts, strong new orders, as well as the Company’s expansion across international markets as it continues to extend its offering to customers globally. On this front, international markets contributed 23.0% of Presight’s revenue and booked a 3.5x increase to AED 508.2 million in FY 2024.

Moreover, Presight’s highly liquid, debt-free balance sheet, with a cash and equivalents balance of AED 1.94 billion in FY 2024, provides ample financial flexibility to support operations and headroom to drive future growth.

His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of the Board of Directors of Presight commented:

“Presight’s full year results demonstrate strong execution against strategic objectives, namely international expansion, investing in capability and innovation, and growing through value-accretive M&A. At the heart of its business lies a commitment to leverage artificial intelligence to bring transformative benefits, across a diverse range of industries, that define a safer and more sustainable economic future, and I am confident that Presight will continue to create value for all stakeholders in both the near and medium term.”

Thomas Pramotedham, Chief Executive Officer of Presight, commented:

“The past twelve months have been transformational for Presight. From establishing ourselves as a critical AI and digital transformation partner across key state-owned enterprises in the UAE, to supporting governments and large enterprises across four continents in realizing their strategic AI ambitions by adopting ‘Applied Intelligence’ today.

“FY 2024 has been a year of outstanding operational execution, with every metric from orders, revenue, profit and cash exceeding market expectations. Ending the year with an AED 2.99 billion backlog stands us in good stead to drive future growth.

“We made significant additions to our growing portfolio of best-in-class Applied AI products and solutions, including our Presight Enterprise suite, to support large-scale deployment of AI technology.

“We acquired a majority stake in leading AI energy provider, AIQ, and launched ENERGYai as the world’s first Agentic AI Energy Platform which, together with the formation of our IntelliGrid joint venture, will enable Presight to play a pivotal role in the global energy transition.

“These results are a testament of our commitment to use technology and AI to solve complex problems for the advancement of humankind and deliver significant value accretion for all stakeholders. 

“I remain grateful for the wise counsel and visionary leadership of our Board of Directors, as well as the continued passion and dedication of all our colleagues across the Group. The results today speak for themselves, but this is just the beginning. There is so much more we can and will achieve, creating a perpetual impact globally through the responsible and ethical use of AI.”

The 2024 business highlights include:

  • Renewed existing and negotiated new domestic/international contracts with a value of AED 3.6 billion.
  • Forged strong technology partnerships, including global technology leaders such as Microsoft, Dell and Intel, to further enhance our technology portfolio and accelerate ‘Applied Intelligence’ AI projects across the region.
  • Acquired 51% of AIQ, a leading provider of AI solutions in the energy sector.
  • Through AIQ, launched ENERGYai, a first-of-its-kind Agentic AI platform for the Energy sector. ADNOC has committed to deploy ENERGYai across its entire upstream value chain.
  • Formed IntelliGrid, a joint venture between Esyasoft and Presight, which signed a 13-year, AED 1.76 billion preliminary agreement with SOCAR, the state-owned national oil and gas company of Azerbaijan, to implement a state-of-the-art Smart Gas Grid Management System across the entire AzeriGas service area in Azerbaijan.
  • Launched cutting-edge AI and Applied AI products and solutions, including the sector and scale agnostic Presight Enterprise suite and Presight Intelli-Platform underpinning a raft of a scalable, adaptable Smart City solutions.
  • Launched Presight DataHub, the UAE’s first sovereign enterprise data marketplace platform and Presight AI-Startup Accelerator Program.
  • Strengthened membership of our Board of Directors, bringing unrivalled leadership, guidance and expertise across the AI, Technology, and Energy sectors.
  • Received the “UAE AI Data Analytics Innovator of the Year” Award by Dell Technologies.
  • Maintained the highest standards of corporate governance, manifested in the award of nine ISO certifications.

Tech News

Intersec Global 2027 and EACOH partner to advance safer, healthier and more inclusive workplaces

Published

on


Intersec Global 2027, the leading international exhibition for safety, security and resilience, has signed a Memorandum of Understanding (MoU) with the Emirates Association for Occupational Health (EACOH) to strengthen collaboration on workplace health and safety, wellbeing, and inclusion.
The agreement was signed today in Dubai, marking the start of a strategic partnership ahead of the 2027 edition, which takes place from 12 to 14 January 2027 at Dubai World Trade Centre and will bring together government officials, regulators, industry leaders, innovators, and buyers to drive commercial growth and set industry benchmarks.

Under the agreement, EACOH will lead the new Workforce Safety, Resilience & Inclusion Hub on the final day of Intersec Global, anchoring the event’s dedicated Safety & Wellbeing domain. The partnership reflects Intersec’s broader remit beyond traditional fire and security into organisational resilience, business continuity and occupational health. In turn, the dedicated show-floor feature provides EACOH with a direct platform to connect its expertise in workforce wellbeing and preventive health with an international audience of cross-sector leaders.

The Hub’s live and interactive format will showcase innovations in workforce safety, human performance and inclusive workplace design, including rapid-fire demonstrations, a Human Performance Challenge and an interactive critical infrastructure incident scenario.

Moving beyond conventional conference content, the Hub will offer hands-on, practical engagement while bringing together adaptive technologies, smart personal protective equipment (PPE), AI-driven monitoring and solutions that empower People of Determination. “Intersec Global continues to evolve in line with the changing needs of the industries it serves,” said Nathan Waugh, Portfolio Director, Security, Technology, Production at Messe Frankfurt Middle East, the organiser of Intersec Global 2027. “Safety, security and resilience are no longer separate conversations. They are intrinsically linked. Our partnership with EACOH and the launch of the Workforce Safety, Resilience & Inclusion Hub reflect our commitment to creating innovative, highly interactive experiences that connect stakeholders, showcase emerging solutions and help shape more resilient organisations and communities worldwide.”
Professor Dr Nahyan Helal MD, MSc, PhD, President of EACOH, added: “Workforce health, safety and wellbeing are fundamental to economic resilience and sustainable development. Across the UAE and the wider region, organisations are placing greater emphasis on preventive health, occupational safety and inclusive workplace practices. Through this partnership with Intersec Global, we have a valuable opportunity to share expertise, highlight regional priorities and engage an international audience in advancing safer, healthier and more resilient workplaces for the future.”

Continue Reading

Tech News

From 350+ Applications to One Champion: School of Cyber Defense Final Stage at GISEC GLOBAL 2026

Published

on

The second edition of the School of Cyber Defense competition reached its final at GISEC GLOBAL 2026, bringing the strongest student cybersecurity teams in the UAE to Dubai Exhibition Centre, Expo City. Building on its 2025 debut, the competition came back larger in scale and tougher in format: this year, participants had to do more than defend systems. They had to design working solutions to real industry challenges.

The competition was hosted by the Dubai Electronic Security Center (DESC) and organized by Techfirm. It drew more than 350 applications from students at more than 30 universities across the country. The road to the final ran through three stages:

Qualification. More than 300 participants from over 90 teams completed an automated, scenario-based qualification round. Over 90% of active teams scored above the 70% threshold needed to advance.

Case challenge. More than 70 teams submitted solutions to one of 15 official challenge briefs. An expert jury assessed each submission on fit to the brief, relevance, a working prototype, technical depth and innovation.

Live final. Only the seven highest-scoring teams reached the GISEC stage, fewer than one in ten of the teams that submitted a case. Finalists presented and defended their solutions live in front of the jury. The finalists represented BITS Pilani Dubai, American University of Sharjah, Al Ain University, Middlesex University Dubai, University of Wollongong in Dubai, University of Dubai and Abu Dhabi Polytechnic.

Winners of the School of Cyber Defense 2026:

  • 1st Place: Unlisted (Middlesex University Dubai)
  • 2nd Place: AUSec (American University of Sharjah)
  • 3rd Place: ADPoly CyberGuard (Abu Dhabi Polytechnic)

The competition featured a prize pool worth AED 55,000, shared among the winning teams.

The competition was made possible by partners committed to developing young talent and strengthening the region’s cybersecurity workforce. The Competition Industry Partners include AMD, Dahua Technology, Kaspersky, KERNO and M1 Global Infrastructure. The Competition Gold Partners are Anker Innovations, Circularo, HPE, Huawei, KnowBe4, RAS Infotech and Spire Solutions. Secureway is the Competition Silver Partner.

Now in its second year, the School of Cyber Defense has become a recurring platform where the UAE’s future cybersecurity professionals test their skills against the demands of the real industry.

Continue Reading

Tech News

Nemetschek Arabia Showcases Connected Technologies for Smarter Facilities Management at SFMA EXPO 2026

Published

on

Nemetschek Arabia, part of the Nemetschek Group, one of the world’s leading software providers for the Architecture, Engineering, Construction and Operations (AEC/O) industry, is showcasing its vision for the future of facilities management at SFMA EXPO 2026, which is taking place at the Riyadh International Convention & Exhibition Center (RICEC).

Participating as a Golden Sponsor, Nemetschek Arabia is demonstrating how connected digital technologies can help organizations improve operational efficiency, enhance asset performance, and support more sustainable outcomes across the entire facility lifecycle. Visitors to Booth G02 at the event will have the opportunity to explore solutions from Bluebeam, Spacewell, GoCanvas, and Nemetschek dTwin, each designed to help facility owners and operators connect people, processes and data through integrated digital workflows.

“Facilities management is becoming increasingly strategic as organizations seek new ways to maximize asset performance, improve sustainability, and deliver better experiences for occupants and stakeholders,” said Eng. Muayad Simbawa, Managing Director of Nemetschek Arabia. “The future of the sector will be defined by connected ecosystems where people, data and technologies work together seamlessly. Through our participation at SFMA EXPO 2026, we are demonstrating how digital twins, smart workplace solutions, connected workflows and real-time operational intelligence can help organizations unlock greater value from their facilities while supporting the Kingdom’s Vision 2030 ambitions.”

Empowering organizations to build smarter facilities

At the exhibition, visitors can experience how Bluebeam enables seamless collaboration across project and operations teams, helping stakeholders work more efficiently with accurate and accessible information. Meanwhile, Spacewell empowers smarter workplace and facility management through data-driven insights and intelligent operations, while GoCanvas streamlines field processes through digital forms and real-time data capture. And Nemetschek dTwin showcases the power of digital twins in transforming facility operations through real-time asset visibility, predictive maintenance and performance optimization.

As part of its participation, Nemetschek Arabia experts will also contribute to the event’s thought leadership program. Muayad Simbawa will participate in a panel discussion titled “Enhancing Organizational Performance: Hybrid Work Models, Data Analytics, and Advanced Management Technologies,” exploring how organizations can leverage emerging technologies and data-driven insights to adapt to a rapidly evolving business landscape. In addition, Ahmad Hisham Khairat, Regional Presales Engineer, and Ahmad Al Zaben, Technical Consultant, will share their perspectives on the role of BIM, digital twins and integrated digital ecosystems in transforming facility operations and management.

Further reinforcing its commitment to advancing the facilities management sector, Nemetschek Arabia is building on its strategic collaboration with the Saudi Facility Management Association (SFMA) announced earlier this year. The partnership focuses on accelerating digital transformation, knowledge exchange, workforce development and the adoption of innovative technologies that support smarter and more sustainable facilities across the Kingdom.

SFMA EXPO 2026 brings together facility management leaders, technology providers and industry experts from across the region to explore the trends, innovations and strategies shaping the future of the sector. Visitors can learn more about Nemetschek Arabia’s solutions at Booth G02 throughout the event.

Continue Reading

Trending

Copyright © 2023 | The Integrator