DAE Reports 57% Rise in Profit Before Tax for Nine Months Ending September 2024, with Robust Financial and Operational Performance

Dubai Aerospace Enterprise (DAE) Ltd has released its fiscal results for the 9 months ending September 30, 2024, showing important nett maturation driven by strategical craft acquisitions and robust operational performance.

Financial Highlights:

• Total Revenue: Increased to US$1.017 billion, up from US$989.2 cardinal successful the aforesaid play past year.
• Profit Before Tax: Surged by 57% to scope US$326.6 million, reflecting a coagulated fiscal strategy.
• Operating Cash Flow: Achieved US$904.1 million, a dependable fig that underscores DAE’s fiscal strength.
• Liquidity and Leverage: With a liquidity excavation of US$4.0 billion, DAE reports an improved net-debt-to-equity ratio of 2.45x.

Operational Highlights
DAE continues to grow and optimize its fleet, with 23 craft acquired for an approximate worth of US$1.1 billion, focused connected next-generation narrow-body models. The institution besides completed 47 craft income and finalized implicit 100 lease agreements. DAE Engineering reported a 35% gross summation year-on-year, supported by the enlargement of its Amman, Jordan facility, which is connected way to adhd 5 hangar lines by year-end.

CEO Commentary
CEO Firoz Tarapore highlighted DAE's beardown liquidity and superior adequacy metrics, stating, “Our liquidity remains robust, and pre-tax profitability margins person strengthened. We stay vigilant successful managing our equilibrium expanse prudently.”

Investor Call

DAE volition big a webcast and league telephone to sermon the results connected October 30, 2024, astatine 09:00 EDT / 13:00 GMT / 17:00 GST / 21:00 SGT. Interested parties tin articulation the unrecorded league via the DAE website.

Forward-Looking Statements

Certain accusation successful this merchandise constitutes “forward-looking statements” based connected existent expectations. Actual results whitethorn disagree materially owed to assorted hazard factors.

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