"E7" Signs contracts to provide security solutions and commercial printing services in Africa and the Middle East
ABU DHABI, April 18, 2018 (WAM) – E7 Group, listed on the Abu Dhabi Securities Exchange, announced the signing of several contracts to provide security solutions and commercial printing services across Africa and the Middle East, enabling its efforts to expand and grow globally.
E7 Security, which specializes in security solutions, has strengthened its business in Africa by signing two contracts worth more than 25 million dirhams, including a one-year agreement to print exam papers and a two-year agreement to provide electronic passports.
E7 Printing, which specializes in commercial printing, has also signed several contracts with a total value of more than 40 million dirhams to meet the diverse needs of customers in the UAE and Africa, including large-scale outdoor printing, magazines, promotional materials and school books.
Ali Saif Al Nuaimi, CEO of E7 Group, said: “We are pleased to sign these new contracts, which confirm our commitment to innovation and strengthen our leading position in the security solutions and printing sectors. These contracts represent an opportunity to expand our portfolio in the security solutions sector and enhance our presence in global markets, and focus our strategy We aim to improve commercial printing services in the Gulf countries and Africa in order to seize the available opportunities to expand globally and enhance our leading position in the field of commercial printing in the UAE.”
Al Nuaimi added: “E7 is committed to growing its business based on innovation, improving operational efficiency, and growing our portfolio. By diversifying our product offerings and serving our international customers, we are well positioned to seize more growth opportunities in 2024 and the coming years.”
The E7 Group is witnessing strong growth in 2024 thanks to a clear strategy focusing on four main sectors, in addition to its strong financial position, which was enabled by its historic listing on the Abu Dhabi Securities Market in 2023 as the first special purpose acquisition company in the UAE.
The E7 Group recently announced its financial results for the fiscal year 2023, recording a 10% increase in annual revenues to reach AED 631.9 million, and a 107% increase in net profits before one-time non-cash listing expenses to reach AED 140.3 million. The group’s cash liquidity at the end of 2023 reached 1.29 billion UAE dirhams, which supports achieving growth goals through its current activities or acquisitions.
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