As we welcome this new year, we are all proud at how Al Masaood has continued to reach greater heights year on year. 2023 proved to be a challenging year globally, from economic turmoil to global conflicts that have painfully left a mark on many communities who continue to suffer and experience hardships across the world, particularly in our region.
It is in the face of circumstances like these that we, at Al Masaood, work stronger and more united under the guidance of our nation’s enlightened leaders.
The year witnessed immense growth and success for the Group, as we charted a unique path to sustainability. The launch of our inaugural Sustainability Report outlined our commitment to the UN SDGs and our efforts to reduce emissions by pledging to the Country’s net zero plan for 2050. We highlighted our support for climate initiatives through our participation at the historic COP28 UAE where we showcased our innovative sustainable solutions and reinforced our stance as a homegrown company that delivers on its promise to contribute to the country’s success, prosperity, and sustainability.
We are indeed fortunate to operate in the dynamic UAE environment under a leadership that has masterfully navigated every challenge presented to it and is paving the way for economic and environmental progress.
2023 stands as one of the Group’s best-performing years, with both our automotive and industrial divisions achieving record-breaking sales and profits. This of course, is a testament to the remarkable teams at Al Masaood who have worked to execute long-term organizational strategies and build on the Al Masaood's acclaimed reputation.
In 2024, we plan to invest heavily in technology, embracing an era of digital transformation in order to enhance our capabilities and drive operational efficiency.
I would like to express my immense gratitude to the Al Masaood Group family comprising our community of thousands of employees – each one of whom plays an integral role in our success.
I wish you all and your families a Happy New Year. May it bring peace, health and progress to the World.