The Emirates Group earned it’s best-ever half-year financial performance, posting a Profit Before Tax of AED 10.4 billion ($2.8 billion) for the first six months of 2024-25.
This performance surpassed its record profit before tax for the same period last year.
A statement by the media consultant to the airline in Nigeria, said that this is the first financial year that the United Arab Emirates (UAE) corporate income tax, enacted in 2023, is applied to the Emirates Group.
After accounting for the 9 per cent tax charge, the group’s profit after tax is AED 9.3 billion ($2.5 billion).
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Demonstrating its strong operating profitability, the group maintained a robust EBITDA of AED 20.4 billion ($5.6 billion), slightly lower from AED 20.6 billion ($ 5.6 billion) last year.
Group revenue was AED 70.8 billion ($19.3 billion) for the first six months of 2024-25, up 5 per cent from AED 67.3 billion ($18.3 billion) last year.
This reflects the consistently strong customer demand across business divisions, and across regions.
The group closed the first half year of 2024-25 with a solid cash position of AED 43.7 billion ($11.9 billion) on 30 September, 2024, compared to AED 47.1 billion ($12.8 billion) on 31 March 2024.
The group has been able to tap on its own strong cash reserves to support business needs, including payments for new freighter aircraft orders and other debt payments.
The group also paid AED 2 billion in dividend to its owner, as declared at the end of its 2023-24 financial year.
His Highness (HH) Sheikh Ahmed bin Saeed Al Maktoum, Chairman, Emirates Airline and Group said: “The group has surpassed its record performance of last year to deliver a fantastic result for the first half of 2024-25. This again illustrates the power of our proven business model working in combination with Dubai’s growth trajectory as a city of choice to live, work, visit, connect through, and do business in.
“The group’s strong profitability enables us to make the investments necessary for our continued success. We’re investing billions of dollars to bring new products and services to the market for our customers; to implement advanced technologies and other innovation projects to drive growth; and to look after our employees who work hard every day to ensure our customers’ safety and satisfaction.”
