Emaar Development 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	27,486	19,147	11,921	11,541	15,602
Revenue Growth (YoY)	43.55%	60.61%	3.30%	-26.03%	59.88%
Cost of Revenue	12,042	8,602	3,639	6,459	9,948
Gross Profit	15,444	10,545	8,283	5,082	5,654
Selling, General & Admin	2,012	1,489	1,046	1,118	932.94
Other Operating Expenses	-	-	-	-	627.21
Operating Expenses	2,026	1,497	1,058	1,127	1,573
Operating Income	13,419	9,047	7,225	3,954	4,081
Interest Expense	-14.99	-243.95	-120.01	-173.61	-94.03
Interest & Investment Income	1,239	991.04	677.22	131.14	13.22
Earnings From Equity Investments	716.85	194.17	123.61	174.37	234.88
Other Non Operating Income (Expenses)	133.16	184.32	578.51	178.75	-2.75
Pretax Income	15,493	10,173	8,484	4,265	4,233
Income Tax Expense	1,885	486.37	-	-	-
Earnings From Continuing Operations	13,607	9,687	8,484	4,265	4,233
Minority Interest in Earnings	-2,291	-2,053	-1,855	-456.83	-988.17
Net Income	11,316	7,633	6,629	3,808	3,244
Net Income to Common	11,316	7,633	6,629	3,808	3,244
Net Income Growth	48.25%	15.15%	74.07%	17.38%	95.76%
Shares Outstanding (Basic)	4,000	4,000	4,000	4,000	4,000
Shares Outstanding (Diluted)	4,000	4,000	4,000	4,000	4,000
EPS (Basic)	2.83	1.91	1.66	0.95	0.81
EPS (Diluted)	2.83	1.91	1.66	0.95	0.81
EPS Growth	48.25%	15.15%	74.07%	17.38%	95.76%
Free Cash Flow	21,042	10,946	9,759	8,616	4,197
Free Cash Flow Per Share	5.26	2.74	2.44	2.15	1.05
Dividend Per Share	1.000	0.680	0.520	0.520	-
Dividend Growth	47.06%	30.71%	-	-	-
Gross Margin	56.19%	55.07%	69.48%	44.03%	36.24%
Operating Margin	48.82%	47.25%	60.60%	34.26%	26.16%
Profit Margin	41.17%	39.87%	55.61%	33.00%	20.79%
Free Cash Flow Margin	76.56%	57.17%	81.86%	74.66%	26.90%
EBITDA	13,426	9,056	7,235	3,962	4,091
EBITDA Margin	48.85%	47.30%	60.69%	34.33%	26.22%
D&A For EBITDA	7.47	8.46	9.77	7.12	9.71
EBIT	13,419	9,047	7,225	3,954	4,081
EBIT Margin	48.82%	47.25%	60.60%	34.26%	26.16%
Effective Tax Rate	12.17%	4.78%	-	-	-

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