Emaar Properties PJSC Income Statement

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

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	49,557	35,505	26,750	24,926	27,896
Revenue Growth (YoY)	39.58%	32.73%	7.32%	-10.65%	55.33%
Cost of Revenue	22,330	15,124	9,884	12,338	16,304
Gross Profit	27,227	20,381	16,865	12,587	11,592
Selling, General & Admin	3,595	3,232	2,786	3,522	4,052
Other Operating Expenses	-449.88	-414.78	-325.18	-259.85	-252.93
Operating Expenses	4,675	4,244	3,858	4,531	5,038
Operating Income	22,552	16,136	13,008	8,056	6,554
Interest Expense	-492.09	-585.85	-668.13	-716.79	-705.39
Interest & Investment Income	2,505	1,830	1,353	412.45	284.01
Earnings From Equity Investments	800.87	5.6	236.98	214.29	353.63
Currency Exchange Gain (Loss)	-260.05	505.44	239.26	147.57	-
Other Non Operating Income (Expenses)	356.38	778.9	1,449	695.99	-210.1
EBT Excluding Unusual Items	25,462	18,671	15,617	8,810	6,276
Gain (Loss) on Sale of Investments	194.15	229.16	-	233.41	-
Gain (Loss) on Sale of Assets	-	-	699.88	-	-
Asset Writedown	-	-	-1,255	-566.1	-190.67
Pretax Income	25,656	18,900	15,062	8,477	6,085
Income Tax Expense	3,331	1,451	232.41	338.16	407.16
Earnings From Continuing Operations	22,326	17,449	14,829	8,139	5,678
Minority Interest in Earnings	-4,726	-3,935	-3,200	-1,307	-1,877
Net Income	17,599	13,514	11,629	6,832	3,801
Net Income to Common	17,599	13,514	11,629	6,832	3,801
Net Income Growth	30.23%	16.21%	70.22%	79.76%	80.19%
Shares Outstanding (Basic)	8,839	8,839	8,839	8,223	7,274
Shares Outstanding (Diluted)	8,839	8,839	8,839	8,223	7,274
Shares Change (YoY)	-	-	7.49%	13.04%	1.60%
EPS (Basic)	1.99	1.53	1.32	0.83	0.52
EPS (Diluted)	1.99	1.53	1.32	0.83	0.52
EPS Growth	30.23%	16.21%	58.36%	59.02%	77.36%
Free Cash Flow	32,524	23,948	19,253	17,982	9,273
Free Cash Flow Per Share	3.68	2.71	2.18	2.19	1.27
Dividend Per Share	1.000	1.000	0.500	0.250	0.150
Dividend Growth	-	100.00%	100.00%	66.67%	50.00%
Gross Margin	54.94%	57.40%	63.05%	50.50%	41.55%
Operating Margin	45.51%	45.45%	48.63%	32.32%	23.49%
Profit Margin	35.51%	38.06%	43.47%	27.41%	13.62%
Free Cash Flow Margin	65.63%	67.45%	71.97%	72.14%	33.24%
EBITDA	24,132	17,563	14,405	9,332	7,803
EBITDA Margin	48.70%	49.47%	53.85%	37.44%	27.97%
D&A For EBITDA	1,580	1,427	1,397	1,276	1,249
EBIT	22,552	16,136	13,008	8,056	6,554
EBIT Margin	45.51%	45.45%	48.63%	32.32%	23.49%
Effective Tax Rate	12.98%	7.68%	1.54%	3.99%	6.69%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.