Emaar The Economic City Income Statement

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

Millions SAR. 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	865.41	425.97	1,031	363.27	372.08	547.29
Revenue Growth (YoY)	149.99%	-58.70%	183.91%	-2.37%	-32.01%	-42.20%
Cost of Revenue	569.48	549.37	602.92	538.57	611.18	774.23
Gross Profit	295.93	-123.4	428.43	-175.3	-239.1	-226.94
Selling, General & Admin	355.91	387.54	344.15	506.19	327.45	351.83
Amortization of Goodwill & Intangibles	-	-	-	-	8.02	8.09
Other Operating Expenses	-96.33	-73.74	-77.68	61.92	18.3	-
Operating Expenses	259.58	313.8	266.47	568.11	407.61	638.03
Operating Income	36.35	-437.2	161.96	-743.42	-646.72	-864.97
Interest Expense	-556.92	-617.33	-480.6	-285.99	-2.87	-3.96
Interest & Investment Income	4.2	2.86	2.11	1.89	40.54	42.03
Earnings From Equity Investments	-89.81	-92.83	1.74	25.05	45.84	48.07
Other Non Operating Income (Expenses)	-3.13	9.58	25.8	-4.2	-240.29	-241.58
EBT Excluding Unusual Items	-609.31	-1,135	-289	-1,007	-803.5	-1,020
Gain (Loss) on Sale of Assets	31.39	31.39	80.78	7.88	13.54	5.72
Asset Writedown	-	-	-	-58.99	-15.56	-178.67
Legal Settlements	45	45	-	-	-	-
Pretax Income	-290.09	-1,059	-208.22	-1,058	-805.53	-1,193
Income Tax Expense	-6.5	76.03	45	99.51	31	55
Earnings From Continuing Operations	-283.59	-1,135	-253.22	-1,157	-836.53	-1,248
Net Income	-283.59	-1,135	-253.22	-1,157	-836.53	-1,248
Net Income to Common	-283.59	-1,135	-253.22	-1,157	-836.53	-1,248
Shares Outstanding (Basic)	523	523	523	523	427	392
Shares Outstanding (Diluted)	523	523	523	523	427	392
Shares Change (YoY)	-	-	-	22.48%	8.86%	-
EPS (Basic)	-0.54	-2.17	-0.48	-2.21	-1.96	-3.18
EPS (Diluted)	-0.54	-2.17	-0.48	-2.21	-1.96	-3.18
Free Cash Flow	-155.53	-494.27	-398.54	-228.9	135.62	-215.58
Free Cash Flow Per Share	-0.30	-0.94	-0.76	-0.44	0.32	-0.55
Gross Margin	34.20%	-28.97%	41.54%	-48.26%	-64.26%	-41.47%
Operating Margin	4.20%	-102.64%	15.70%	-204.65%	-173.81%	-158.05%
Profit Margin	-32.77%	-266.35%	-24.55%	-318.58%	-224.83%	-228.10%
Free Cash Flow Margin	-17.97%	-116.03%	-38.64%	-63.01%	36.45%	-39.39%
EBITDA	286.01	-199.13	406.73	-475.3	-360.9	-550.91
EBITDA Margin	33.05%	-46.75%	39.44%	-130.84%	-97.00%	-100.66%
D&A For EBITDA	249.66	238.07	244.77	268.12	285.82	314.06
EBIT	36.35	-437.2	161.96	-743.42	-646.72	-864.97
EBIT Margin	4.20%	-102.64%	15.70%	-204.65%	-173.81%	-158.05%
Advertising Expenses	-	21.09	16.69	29.88	46.08	40.47

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