Dubai Refreshment (P.J.S.C.) (DFM:DRC)

DFM:DRC Income Statement

Financials in millions AED. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	869.04	817.99	803.07	752.17	669.71	564.45
Revenue Growth (YoY)	7.49%	1.86%	6.77%	12.31%	18.65%	-11.23%
Cost of Revenue	533.27	523.61	518.21	491.94	422.16	366.69
Gross Profit	335.77	294.38	284.86	260.23	247.55	197.76
Selling, General & Admin	190.35	180.86	179.19	165.32	154.15	144.77
Amortization of Goodwill & Intangibles	0.59	1.02	1.79	3.74	3.68	3.99
Other Operating Expenses	-11.15	-10.08	-8.18	-9.18	-7.55	-7.72
Operating Expenses	179.8	171.8	172.8	159.88	150.29	141.04
Operating Income	155.98	122.57	112.06	100.35	97.27	56.73
Interest Expense	-3.19	-3.19	-3.48	-3.77	-4.1	-4.62
Interest & Investment Income	13.73	21.48	17.08	6.32	4.08	3.94
Other Non Operating Income (Expenses)	9.9	8.64	15.92	2.75	-0.45	0.82
EBT Excluding Unusual Items	176.42	149.51	141.59	105.65	96.8	56.87
Gain (Loss) on Sale of Assets	0.04	-	220.19	-	-	-
Pretax Income	176.46	149.51	361.78	105.65	96.8	56.87
Income Tax Expense	16.35	13.68	-	-	-	-
Net Income	160.11	135.83	361.78	105.65	96.8	56.87
Preferred Dividends & Other Adjustments	5.23	6.23	4.22	4.2	4.2	4.2
Net Income to Common	154.88	129.6	357.56	101.45	92.6	52.67
Net Income Growth	20.85%	-62.46%	242.43%	9.15%	70.21%	-15.57%
Shares Outstanding (Basic)	90	90	90	90	90	90
Shares Outstanding (Diluted)	90	90	90	90	90	90
EPS (Basic)	1.72	1.44	3.97	1.13	1.03	0.59
EPS (Diluted)	1.72	1.44	3.97	1.13	1.03	0.59
EPS Growth	21.69%	-63.75%	252.45%	9.56%	75.81%	-16.61%
Free Cash Flow	169.89	176.59	121.59	197.4	112.36	100.47
Free Cash Flow Per Share	1.89	1.96	1.35	2.19	1.25	1.12
Dividend Per Share	1.000	1.000	0.800	0.700	0.700	0.700
Dividend Growth	25.00%	25.00%	14.29%	-	-	-
Gross Margin	38.64%	35.99%	35.47%	34.60%	36.96%	35.04%
Operating Margin	17.95%	14.99%	13.95%	13.34%	14.52%	10.05%
Profit Margin	17.82%	15.84%	44.52%	13.49%	13.83%	9.33%
Free Cash Flow Margin	19.55%	21.59%	15.14%	26.24%	16.78%	17.80%
EBITDA	198.09	164.25	152.67	142.81	144	104.9
EBITDA Margin	22.79%	20.08%	19.01%	18.99%	21.50%	18.58%
D&A For EBITDA	42.11	41.67	40.61	42.46	46.73	48.17
EBIT	155.98	122.57	112.06	100.35	97.27	56.73
EBIT Margin	17.95%	14.99%	13.95%	13.34%	14.52%	10.05%
Effective Tax Rate	9.26%	9.15%	-	-	-	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.