Emaar The Economic City Income Statement

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

Millions SAR. 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	1,138	425.97	1,031	363.27	372.08
Revenue Growth (YoY)	167.21%	-58.70%	183.91%	-2.37%	-32.01%
Cost of Revenue	656.81	549.37	602.92	538.57	611.18
Gross Profit	481.41	-123.4	428.43	-175.3	-239.1
Selling, General & Admin	384.71	403.01	344.15	506.19	327.45
Amortization of Goodwill & Intangibles	-	-	-	-	8.02
Other Operating Expenses	54.97	-133.12	-77.68	61.92	18.3
Operating Expenses	439.68	269.89	266.47	568.11	407.61
Operating Income	41.73	-393.29	161.96	-743.42	-646.72
Interest Expense	-542.27	-617.33	-480.6	-285.99	-2.87
Interest & Investment Income	7.3	2.86	2.11	1.89	40.54
Earnings From Equity Investments	-84.81	-92.83	1.74	25.05	45.84
Other Non Operating Income (Expenses)	-3.91	9.58	25.8	-4.2	-240.29
EBT Excluding Unusual Items	-581.96	-1,091	-289	-1,007	-803.5
Gain (Loss) on Sale of Assets	9.43	31.39	80.78	7.88	13.54
Asset Writedown	316.51	1.09	-	-58.99	-15.56
Other Unusual Items	269.31	-	-	-	-
Pretax Income	13.29	-1,059	-208.22	-1,058	-805.53
Income Tax Expense	22.19	76.03	45	99.51	31
Earnings From Continuing Operations	-8.9	-1,135	-253.22	-1,157	-836.53
Net Income	-8.9	-1,135	-253.22	-1,157	-836.53
Net Income to Common	-8.9	-1,135	-253.22	-1,157	-836.53
Shares Outstanding (Basic)	532	523	523	523	427
Shares Outstanding (Diluted)	532	523	523	523	427
Shares Change (YoY)	1.70%	-	-	22.48%	8.86%
EPS (Basic)	-0.02	-2.17	-0.48	-2.21	-1.96
EPS (Diluted)	-0.02	-2.17	-0.48	-2.21	-1.96
Free Cash Flow	-187.11	-494.27	-398.54	-228.9	135.62
Free Cash Flow Per Share	-0.35	-0.94	-0.76	-0.44	0.32
Gross Margin	42.30%	-28.97%	41.54%	-48.26%	-64.26%
Operating Margin	3.67%	-92.33%	15.70%	-204.65%	-173.81%
Profit Margin	-0.78%	-266.35%	-24.55%	-318.58%	-224.83%
Free Cash Flow Margin	-16.44%	-116.03%	-38.64%	-63.01%	36.45%
EBITDA	295.11	-155.22	406.73	-475.3	-360.9
EBITDA Margin	25.93%	-36.44%	39.44%	-130.84%	-97.00%
D&A For EBITDA	253.38	238.07	244.77	268.12	285.82
EBIT	41.73	-393.29	161.96	-743.42	-646.72
EBIT Margin	3.67%	-92.33%	15.70%	-204.65%	-173.81%
Effective Tax Rate	166.95%	-	-	-	-
Advertising Expenses	16.2	21.09	16.69	29.88	46.08

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