Presight's Third-Quarter Profit Rises 31% as Multi-Year Contracts Dominate Revenue

EBITDA for the three months to September 30 rose 27.7% to AED 168.3 million, lifting the EBITDA margin to 22.5% from 20.2% a year earlier, the company said in its results statement. For the first nine months, revenue rose 23.6% to AED 2.15 billion, EBITDA grew 24.8% to AED 471.0 million and profit after tax increased 23.5% to AED 395.2 million.

The quarter's revenue growth was slower than the nine-month pace, but the mix shifted towards more predictable work. Multi-year contracts made up 98.7% of third-quarter revenue, against 76.3% a year earlier, and the order backlog stood at AED 4.41 billion at the end of September, up 19.4%. The company said it has no debt and holds AED 2.0 billion in cash and cash equivalents.

AIQ, the energy AI venture in which Presight holds a stake alongside ADNOC, contributed AED 184.9 million, or 24.7% of group revenue. Presight said AIQ is rolling out its ENERGYai platform across ADNOC's upstream operations, has started its first international commercial deployment in India and has pilots under way in eight other markets outside the UAE. AIQ is also developing Genesis, which the company describes as an AI-native operating system for coordinating AI agents, data and workflows across the energy value chain, with pilots in Kuwait, India, Malaysia and Vietnam.

In the UAE, revenue came from national-scale public safety programmes that were renewed in the second quarter, and Presight said it signed two new government agreements for public safety and security. It also agreed to deploy agentic AI with the Abu Dhabi Hazardous Materials Management Centre to detect and monitor hazardous materials risks.

Abroad, the company pointed to continuing multi-year work in Kazakhstan, Albania, Jordan and Africa, and a long-term contract with Nursultan Nazarbayev International Airport to build and operate a Digital Smart Airport Astana platform. In Kazakhstan it signed a memorandum of understanding with the Ministry of AI and Kazakhtelecom on national digital infrastructure, and a letter of intent with the Ministry of Transport to evaluate a sovereign AI national intelligence platform. It also signed memorandums with two South Korean organisations, Gyeonggido Business & Science Accelerator and Dtonic Corporation, and in October with Greece's Ministry of Digital Governance, covering AI-powered urban analytics for waste management, water network monitoring and public transport safety.

"Our disciplined operational and financial execution positions us well to deliver a strong full-year performance," chief executive Thomas Pramotedham said.

Presight said trading is in line with management's expectations and that it expects full-year revenue, EBITDA and profit after tax to land in the mid-to-upper end of analyst forecasts. It reiterated its organic targets for 2025 to 2029: compound annual growth of 20% to 25% in revenue, 23% to 28% in EBITDA and 21% to 26% in profit after tax.