Emirates posts record profit for first half of fiscal 2024-25

Dergam Mousa

8 months ago

The Emirates Group thursday announced its best-ever half-year financial performance, posting a profit before tax of AED 10.4 billion (US$ 2.8 billion) for the first six months of 2024-25.

This is the first financial year that the UAE corporate income tax, enacted in 2023, is applied to the Group. After accounting for the 9% tax charge, the Group’s profit after tax is AED 9.3 billion (USD 2.5 billion).

Demonstrating its strong operating profitability, the Group maintained a robust EBITDA of AED 20.4 billion (US$ 5.6 billion), slightly lower from AED 20.6 billion (US$ 5.6 billion) last year.

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Group revenue was AED 70.8 billion (US$ 19.3 billion) for the first six months of 2024-25, up 5% from AED 67.3 billion (US$ 18.3 billion) last year. This reflects the consistently strong customer demand across business divisions, and across regions.

The Group closed the first half year of 2024-25 with a solid cash position of AED 43.7 billion (US$ 11.9 billion) on 30 September 2024.

To support increased operations and business activities, the Emirates Group’s employee base, compared to 31 March 2024, grew 3% to an overall count of 114,610 on 30 September 2024.

“The Group has surpassed its record performance of last year to deliver a fantastic result for the first half of 2024-25. This again illustrates the power of our proven business model working in combination with Dubai’s growth trajectory as a city of choice to live, work, visit, connect through, and do business in”, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group said.