Emaar Properties, based in the UAE, announced today, Thursday, its quarterly financial results, achieving 5.34 billion dirhams (1.45 billion dollars) in profits attributable to shareholders in the first half, compared to 4.95 billion dirhams a year ago, an increase of 8%.
Evolution of Revenue and Net Profits for Emaar Properties Since the Beginning of 2023
| Year | Quarter | Revenue (million AED) | Net Profit Before Tax (million AED) | Net Profit (million AED) | Earnings Per Share (AED) |
|---|---|---|---|---|---|
| 2022 | Q1 | 6635.4 | 2287.1 | 2239.1 | 0.27 |
| 2022 | Q2 | 6939.5 | 2141.6 | 2061.4 | 0.25 |
| 2022 | Q3 | 5326.1 | 1577.8 | 1490.0 | 0.18 |
| 2022 | Q4 | 6024.7 | 1163.8 | 1041.6 | 0.12 |
| 2023 | Q1 | 6290.2 | 3270.8 | 3206.1 | 0.36 |
| 2023 | Q2 | 5978.0 | 1771.4 | 1739.6 | 0.20 |
| 2023 | Q3 | 6102.2 | 3356.3 | 3291.1 | 0.37 |
| 2023 | Q4 | 8379.5 | 3463.1 | 3392.5 | 0.38 |
| 2024 | Q1 | 6723.0 | 3486.7 | 2920.9 | 0.33 |
| 2024 | Q2 | 7684.0 | 2772.3 | 2419.1 | 0.27 |
The data published on the Dubai Stock Exchange website showed that the company achieved revenues of 14.41 billion dirhams in the first half, compared to 12.27 billion dirhams in the same period last year.
Emaar Properties’ shares rose by more than 2% last month to exceed the 9 dirhams per share mark, for the first time since December 2014.
Shareholders are awaiting the company’s announcement of its quarterly results for the second quarter, where analysts expect the company to record quarterly profits of 2.95 billion dirhams.
It is noteworthy that the profits attributable to shareholders of Emaar Properties fell by 9% to 2.92 billion dirhams in the first quarter of 2024, slightly below analysts’ expectations of 2.97 billion dirhams.
