Emaar Properties PJSC (DFM:EMAAR)

Emaar Properties PJSC 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	44,819	35,505	26,750	24,926	27,896	17,959
Revenue Growth (YoY)	39.31%	32.73%	7.32%	-10.65%	55.33%	-26.95%
Cost of Revenue	19,964	15,124	9,884	12,338	16,304	10,764
Gross Profit	24,855	20,381	16,865	12,587	11,592	7,196
Selling, General & Admin	3,362	3,232	2,786	3,522	4,052	3,529
Other Operating Expenses	-463.01	-414.78	-325.18	-259.85	-252.93	-165.35
Operating Expenses	4,431	4,244	3,858	4,531	5,038	4,622
Operating Income	20,424	16,136	13,008	8,056	6,554	2,573
Interest Expense	-522.66	-585.85	-668.13	-716.79	-705.39	-829.42
Interest & Investment Income	2,272	1,830	1,353	412.45	284.01	421.96
Earnings From Equity Investments	297.34	5.6	236.98	214.29	353.63	-581.74
Currency Exchange Gain (Loss)	-206.55	505.44	239.26	147.57	-	-
Other Non Operating Income (Expenses)	723.54	778.9	1,449	695.99	-210.1	-8.47
EBT Excluding Unusual Items	22,988	18,671	15,617	8,810	6,276	1,575
Gain (Loss) on Sale of Investments	229.16	229.16	-	233.41	-	-
Gain (Loss) on Sale of Assets	-	-	699.88	-	-	2,252
Asset Writedown	-	-	-1,255	-566.1	-190.67	-1,214
Pretax Income	23,217	18,900	15,062	8,477	6,085	2,614
Income Tax Expense	2,167	1,451	232.41	338.16	407.16	-192.5
Earnings From Continuing Operations	21,050	17,449	14,829	8,139	5,678	2,806
Minority Interest in Earnings	-4,606	-3,935	-3,200	-1,307	-1,877	-697.14
Net Income	16,444	13,514	11,629	6,832	3,801	2,109
Net Income to Common	16,444	13,514	11,629	6,832	3,801	2,109
Net Income Growth	38.01%	16.21%	70.22%	79.76%	80.19%	-65.98%
Shares Outstanding (Basic)	8,788	8,839	8,839	8,223	7,274	7,160
Shares Outstanding (Diluted)	8,788	8,839	8,839	8,223	7,274	7,160
Shares Change (YoY)	-0.76%	-	7.49%	13.04%	1.60%	-
EPS (Basic)	1.87	1.53	1.32	0.83	0.52	0.29
EPS (Diluted)	1.87	1.53	1.32	0.83	0.52	0.29
EPS Growth	39.06%	16.21%	58.36%	59.02%	77.36%	-65.98%
Free Cash Flow	30,508	23,948	19,253	17,982	9,273	1,389
Free Cash Flow Per Share	3.47	2.71	2.18	2.19	1.27	0.19
Dividend Per Share	1.000	1.000	0.500	0.250	0.150	0.100
Dividend Growth	100.00%	100.00%	100.00%	66.67%	50.00%	-
Gross Margin	55.46%	57.40%	63.05%	50.50%	41.55%	40.06%
Operating Margin	45.57%	45.45%	48.63%	32.32%	23.49%	14.33%
Profit Margin	36.69%	38.06%	43.47%	27.41%	13.62%	11.74%
Free Cash Flow Margin	68.07%	67.45%	71.97%	72.14%	33.24%	7.73%
EBITDA	21,988	17,563	14,405	9,332	7,803	3,842
EBITDA Margin	49.06%	49.47%	53.85%	37.44%	27.97%	21.39%
D&A For EBITDA	1,563	1,427	1,397	1,276	1,249	1,269
EBIT	20,424	16,136	13,008	8,056	6,554	2,573
EBIT Margin	45.57%	45.45%	48.63%	32.32%	23.49%	14.33%
Effective Tax Rate	9.33%	7.68%	1.54%	3.99%	6.69%	-

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