Emaar Development PJSC (DFM:EMAARDEV)

Emaar Development PJSC Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	29,318	27,486	19,147	11,921	11,541	15,602
Revenue Growth (YoY)	41.88%	43.55%	60.61%	3.30%	-26.03%	59.88%
Cost of Revenue	12,876	12,042	8,602	3,639	6,459	9,948
Gross Profit	16,442	15,444	10,545	8,283	5,082	5,654
Selling, General & Admin	2,172	2,012	1,489	1,046	1,118	932.94
Other Operating Expenses	-	-	-	-	-	627.21
Operating Expenses	2,186	2,026	1,497	1,058	1,127	1,573
Operating Income	14,256	13,419	9,047	7,225	3,954	4,081
Interest Expense	-12.96	-14.99	-243.95	-120.01	-173.61	-94.03
Interest & Investment Income	1,335	1,239	991.04	677.22	131.14	13.22
Earnings From Equity Investments	1,073	716.85	194.17	123.61	174.37	234.88
Other Non Operating Income (Expenses)	125.67	133.16	184.32	578.51	178.75	-2.75
Pretax Income	16,777	15,493	10,173	8,484	4,265	4,233
Income Tax Expense	2,018	1,885	486.37	-	-	-
Earnings From Continuing Operations	14,759	13,607	9,687	8,484	4,265	4,233
Minority Interest in Earnings	-2,439	-2,291	-2,053	-1,855	-456.83	-988.17
Net Income	12,321	11,316	7,633	6,629	3,808	3,244
Net Income to Common	12,321	11,316	7,633	6,629	3,808	3,244
Net Income Growth	49.20%	48.25%	15.15%	74.07%	17.38%	95.76%
Shares Outstanding (Basic)	4,002	4,000	4,000	4,000	4,000	4,000
Shares Outstanding (Diluted)	4,002	4,000	4,000	4,000	4,000	4,000
Shares Change (YoY)	0.33%	-	-	-	-	-
EPS (Basic)	3.08	2.83	1.91	1.66	0.95	0.81
EPS (Diluted)	3.08	2.83	1.91	1.66	0.95	0.81
EPS Growth	48.70%	48.25%	15.15%	74.07%	17.38%	95.76%
Free Cash Flow	20,138	21,042	10,946	9,759	8,616	4,197
Free Cash Flow Per Share	5.03	5.26	2.74	2.44	2.15	1.05
Dividend Per Share	1.000	1.000	0.680	0.520	0.520	-
Dividend Growth	47.06%	47.06%	30.71%	-	-	-
Gross Margin	56.08%	56.19%	55.07%	69.48%	44.03%	36.24%
Operating Margin	48.63%	48.82%	47.25%	60.60%	34.26%	26.16%
Profit Margin	42.02%	41.17%	39.87%	55.61%	33.00%	20.79%
Free Cash Flow Margin	68.69%	76.56%	57.17%	81.86%	74.66%	26.90%
EBITDA	14,264	13,426	9,056	7,235	3,962	4,091
EBITDA Margin	48.65%	48.85%	47.30%	60.69%	34.33%	26.22%
D&A For EBITDA	8.03	7.47	8.46	9.77	7.12	9.71
EBIT	14,256	13,419	9,047	7,225	3,954	4,081
EBIT Margin	48.63%	48.82%	47.25%	60.60%	34.26%	26.16%
Effective Tax Rate	12.03%	12.17%	4.78%	-	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.