Thursday, November 7, 2024 The Emirates Group reported its strongest half-year financial results to date, with a profit before tax of AED 10.4 billion (US$ 2.8 billion) for the first half of the 2024-25 fiscal year, surpassing its previous record for the same period last year.
This financial year marks the first time the Emirates Group is subject to the UAE’s corporate income tax, introduced in 2023. After accounting for a 9% tax charge, the Group’s profit after tax stands at AED 9.3 billion (US$ 2.
5 billion). Highlighting its solid operational performance, the Group recorded an EBITDA of AED 20.4 billion (US$ 5.
6 billion), slightly down from AED 20.6 billion (US$ 5.6 billion) in the prior year.
The Group’s revenue for the first half of 2024-25 reached AED 70.8 billion (US$ 19.3 billion), reflecting a 5% increase from AED 67.
3 billion (US$ 18.3 billion) the previous year, driven by consistently strong customer demand across all business segments and regions. As of 30 September 2024, the Group maintained a strong cash position of AED 43.
7 billion (US$ 11.9 billion), compared to AED 47.1 billion (US$ 12.
8 billion) on 31 March 2024. This cash reserve has supported key business needs, including new freighter aircraft orders and debt repayments. Additionally, the Group distributed AED 2 billion in dividends to its owner, as declared at the close of the 2023-24 fiscal year.
His Highness (HH) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and.
