The Emirates Group has reported its best-ever financial performance for the first half of 2024-25, with a profit before tax of Dh10.4 billion, surpassing the record set in the same period last year. Despite the introduction of the UAE corporate income tax in 2023, which imposed a nine-percent tax charge, the group’s profit after tax reached Dh9.3 billion.
The group’s EBITDA stood strong at Dh20.4 billion, slightly down from Dh20.6 billion last year, while revenue for the first six months of 2024-25 reached Dh70.8 billion, a five percent increase from Dh67.3 billion the previous year. The group also maintained a solid cash position of Dh43.7 billion as of September 30, 2024, compared to Dh47.1 billion at the end of the 2023 financial year. Additionally, Dh2 billion in dividends were paid to its owner.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO of Emirates Airline and Group, expressed satisfaction with the results, attributing the success to a combination of the group’s robust business model and Dubai’s role as a global hub for business and tourism. He also highlighted the group’s commitment to investing in new products, services, technologies, and innovations to drive future growth.
“We expect customer demand to remain strong for the rest of 2024-25, and we look forward to expanding our fleet and facilities,” Sheikh Ahmed added, underscoring the group’s optimism for continued success.
Emirates Airline Performance
Emirates airline posted a profit before tax of Dh9.7 billion, a slight increase from Dh9.5 billion last year. Its revenue surged to Dh62.2 billion, up five percent from Dh59.5 billion. The airline’s success is attributed to strong demand for travel and air cargo, as well as high-quality customer services. Despite a six-percent increase in operating costs, mainly due to fuel price rises, Emirates continued to achieve strong results with an EBITDA of Dh19.1 billion.
dnata Performance
dnata, the Emirates Group’s airport service provider, saw impressive growth across its divisions, with revenue of Dh10.4 billion, up 11 percent from Dh9.3 billion. Despite a five percent decline in its profit before tax to Dh720 million (due to a one-off impairment charge), dnata achieved EBITDA of Dh1.3 billion, an increase of 16 percent compared to last year. dnata’s travel division, which includes Imagine Cruising, Destination Asia, and Middle East Corporate Travel, contributed Dh1.8 billion to its revenue, marking a 23 percent growth.
