Emaar Development PJSC Income Statement

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

Millions AED. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	24,312	19,147	11,921	11,541	15,602	9,758
Revenue Growth (YoY)	42.76%	60.61%	3.30%	-26.03%	59.88%	-23.44%
Cost of Revenue	10,720	8,602	3,639	6,459	9,948	6,405
Gross Profit	13,592	10,545	8,283	5,082	5,654	3,353
Selling, General & Admin	1,768	1,489	1,046	1,118	932.94	1,160
Other Operating Expenses	-	-	-	-	627.21	-
Operating Expenses	1,781	1,497	1,058	1,127	1,573	1,179
Operating Income	11,812	9,047	7,225	3,954	4,081	2,174
Interest Expense	-43.3	-243.95	-120.01	-173.61	-94.03	-143.47
Interest & Investment Income	1,097	991.04	677.22	131.14	13.22	40.46
Earnings From Equity Investments	366.1	194.17	123.61	174.37	234.88	97.87
Other Non Operating Income (Expenses)	175.77	184.32	578.51	178.75	-2.75	-112.89
Pretax Income	13,407	10,173	8,484	4,265	4,233	2,056
Income Tax Expense	990.42	486.37	-	-	-	-
Earnings From Continuing Operations	12,417	9,687	8,484	4,265	4,233	2,056
Minority Interest in Earnings	-2,348	-2,053	-1,855	-456.83	-988.17	-398.22
Net Income	10,069	7,633	6,629	3,808	3,244	1,657
Net Income to Common	10,069	7,633	6,629	3,808	3,244	1,657
Net Income Growth	41.02%	15.15%	74.07%	17.38%	95.76%	-38.62%
Shares Outstanding (Basic)	3,996	4,000	4,000	4,000	4,000	4,000
Shares Outstanding (Diluted)	3,996	4,000	4,000	4,000	4,000	4,000
Shares Change (YoY)	0.08%	-	-	-	-	-
EPS (Basic)	2.52	1.91	1.66	0.95	0.81	0.41
EPS (Diluted)	2.52	1.91	1.66	0.95	0.81	0.41
EPS Growth	40.90%	15.15%	74.07%	17.38%	95.76%	-38.62%
Free Cash Flow	18,106	10,947	9,759	8,616	4,197	427.7
Free Cash Flow Per Share	4.53	2.74	2.44	2.15	1.05	0.11
Dividend Per Share	0.680	0.680	0.520	0.520	-	-
Dividend Growth	30.71%	30.71%	-	-	-	-
Gross Margin	55.91%	55.07%	69.48%	44.03%	36.24%	34.36%
Operating Margin	48.58%	47.25%	60.60%	34.26%	26.16%	22.27%
Profit Margin	41.41%	39.87%	55.61%	33.00%	20.79%	16.98%
Free Cash Flow Margin	74.47%	57.18%	81.86%	74.66%	26.90%	4.38%
EBITDA	11,823	9,055	7,235	3,962	4,091	2,187
EBITDA Margin	48.63%	47.29%	60.69%	34.33%	26.22%	22.41%
D&A For EBITDA	11.38	7.37	9.77	7.12	9.71	13.54
EBIT	11,812	9,047	7,225	3,954	4,081	2,174
EBIT Margin	48.58%	47.25%	60.60%	34.26%	26.16%	22.27%
Effective Tax Rate	7.39%	4.78%	-	-	-	-

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