Emirates Group reports AED9.3 billion profit after tax in 6 months

The Emirates Group contiguous announced its best-ever half-year fiscal performance, posting a nett earlier taxation of AED10.4 cardinal (US$ 2.8 billion) for the archetypal six months of 2024-25, surpassing its grounds nett earlier taxation for the aforesaid play past year.

This is the archetypal fiscal twelvemonth that the UAE firm income tax, enacted successful 2023, is applied to the Emirates Group. After accounting for the 9% taxation charge, the Group’s nett aft taxation is AED9.3 cardinal (US$2.5 billion).

Demonstrating its beardown operating profitability, the Group maintained a robust EBITDA of AED20.4 cardinal (US$5.6 billion), somewhat little from AED20.6 cardinal (US$5.6 billion) past year.

Group gross was AED70.8 cardinal (US$ 19.3 billion) for the archetypal six months of 2024-25, up 5% from AED67.3 cardinal (US$ 18.3 billion) past year. This reflects the consistently beardown lawsuit request crossed concern divisions, and crossed regions.

The Group closed the archetypal fractional twelvemonth of 2024-25 with a coagulated currency presumption of AED43.7 cardinal (US$ 11.9 billion) connected 30 September 2024, compared to AED47.1 cardinal (US$ 12.8 billion) connected 31st March 2024.

The Group has been capable to pat connected its ain beardown currency reserves to enactment concern needs, including payments for caller freighter craft orders and different indebtedness payments. The Group besides paid AED2 cardinal successful dividend to its owner, arsenic declared astatine the extremity of its 2023-24 fiscal year.

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group, said, “The Group has surpassed its grounds show of past twelvemonth to present a fantastic effect for the archetypal fractional of 2024-25. This again illustrates the powerfulness of our proven concern exemplary moving successful operation with Dubai’s maturation trajectory arsenic a metropolis of prime to live, work, visit, link through, and bash concern in.

The Group’s beardown profitability enables america to marque the investments indispensable for our continued success. We’re investing billions of dollars to bring caller products and services to the marketplace for our customers; to instrumentality precocious technologies and different innovation projects to thrust growth; and to look aft our employees who enactment hard each time to guarantee our customers’ information and satisfaction.”

Sheikh Ahmed added, “We expect lawsuit request to stay beardown for the remainder of 2024-25, and we look guardant to expanding our capableness to turn revenues arsenic caller craft articulation the Emirates fleet and caller facilities travel online astatine dnata. The outlook is positive, but we don’t mean to remainder connected our laurels. We volition enactment agile successful deploying our capableness and resources successful a dynamic marketplace.”

To enactment accrued operations and concern activities, the Emirates Group’s worker base, compared to 31st March 2024, grew 3% to an wide number of 114,610 connected 30 September 2024. Both Emirates and dnata person ongoing recruitment drives to enactment their aboriginal requirements.

Emirates continued to heighten its web and summation connectivity options done its Dubai hub. During the archetypal fractional of 2024-25, Emirates accrued scheduled flights to 8 cities: Amsterdam, Cebu, Clark, Luanda, Lyon, Madrid, Manila and Singapore.

In May, Emirates restarted regular services to Phnom Penh successful Cambodia via Singapore. In June, it launched regular services to Bogotá via Miami, expanding the airline’s South American beingness to Colombia. In September, Emirates opened a caller way to Madagascar via the Seychelles – taking its rider and cargo web to 148 airports successful 80 countries by 30th September.

Expanding connectivity options for customers, during the archetypal six months of 2024-25, Emirates entered into caller agreements with 7 codeshare, interline, and intermodal partners: AirPeace, Avianca, BLADE, ITA Airways, Iceland Air, SNCF Railway, and Viva Aerobus.

Between 1st April and 30th September, 8 craft (3 A380s, 5 Boeing 777s) with afloat refreshed interiors rolled retired of the airline’s US$ 4 cardinal retrofit programme. This enabled Emirates to accelerate the deployment of its latest compartment products, including its latest 4-class Boeing 777 that diagnostic a caller 1-2-1 layout of lie-flat seats with idiosyncratic minibars successful Business Class, and the fashionable Emirates Premium Economy.

The archetypal retrofitted Emirates 777 was deployed to Geneva successful August, followed by Tokyo Haneda and Brussels. For the adjacent six months, arsenic much craft are retrofitted, Emirates has lined up 10 much routes for its refurbished 777s: Riyadh, Zurich, Kuwait, Damman, Chicago, Boston, Dallas Fort Worth, Seattle, Newark-Athens and Miami-Bogota.

By twelvemonth end, Emirates’ latest A380 and Boeing 777 inflight experiences including Premium Economy, volition beryllium disposable to customers connected implicit 30 routes.
On ground, AED44 cardinal was invested to unfastened caller signature Emirates Lounges for premium customers successful London Stansted and Jeddah airports, and refurbish the existing installation astatine Paris Charles De Gaulle. This is portion of an ongoing multi-million dollar programme to heighten its web of owned Emirates Lounges. In July, Emirates opened a caller conception question store successful Hong Kong, its archetypal extracurricular of the UAE, and it plans to motorboat much experiential stores astir its web arsenic portion of its retail strategy.

Emirates continued to advancement connected its biology initiatives, uplifting sustainable aviation substance (SAF) wherever disposable and feasible. During the archetypal six months of 2024-25, Emirates uplifted SAF for the archetypal clip successful Singapore and London Heathrow.

Emirates joined the Aviation Initiative for Renewable Energy (aireg) successful Germany; and signed up arsenic manufacture spouse of the Aviation Impact Accelerator (AIA) astatine the University of Cambridge, contributing to the probe and improvement of emissions simplification pathways. The AIA concern besides marked Emirates’ archetypal disbursement from its US$ 200 cardinal fund, specifically acceptable speech to enactment R&D to beforehand sustainability solutions for aviation.

In the archetypal fractional of 2024-25, Emirates boosted investments successful its planetary marque visibility notably signing a important caller sponsorship woody to beryllium Official Airline Partner of The Championships – Wimbledon. Emirates besides extended its longstanding partnerships with the International Cricket Council (ICC) for a further 8 years, and with Portugal’s SL Benfica shot nine for different 5 years.

Overall capableness during the archetypal six months of the twelvemonth accrued by 5% to 29.9 cardinal Available Tonne Kilometres (ATKM) owed to expanded formation operations. Capacity measured successful Available Seat Kilometres (ASKM), accrued by 4%, whilst rider postulation carried measured successful Revenue Passenger Kilometres (RPKM) was up by 2% with an mean Passenger Seat Factor of 80.0%, compared with 81.5% during the aforesaid play past year. Emirates carried 26.9 cardinal passengers betwixt 1 April and 30 September 2024, up 3% from the aforesaid play past year.

Emirates SkyCargo transported 1,198,000 tonnes successful the archetypal six months of the year, up 16% compared to the aforesaid play past year, with notable measurement contributions from beardown Chinese eCommerce traffic, and a emergence successful shipments bound for Dubai.

Emirates SkyCargo was capable to conscionable request with added capableness from 1 caller Boeing 777 freighter delivered, and 2 further wet-leased Boeing 747Fs. During the archetypal six months of 2024-25, Emirates placed orders for 10 further Boeing 777 freighters to enactment its growth.

Strong lawsuit request for Emirates SkyCargo’s specialised products and fantabulous web of freighter and bellyhold cargo operations saw cargo yields summation by 11%.

Emirates nett earlier taxation for the archetypal fractional of 2024-25 deed a caller grounds of AED9.7 cardinal (US$ 2.6 billion), compared to AED9.5 cardinal (US$ 2.6 billion) for the aforesaid play past year. Emirates nett aft taxation is AED8.7 cardinal (US$ 2.4 billion).

Emirates revenue, including different operating income, of AED62.2 cardinal (US$ 16.9 billion) was up 5% compared with AED59.5 cardinal (US$ 16.2 billion) for the aforesaid play past year. The airline’s caller grounds gross tin beryllium attributed to consistently beardown question and aerial cargo request crossed markets, and its quality to connection customers large worth and services.

Emirates’ nonstop operating costs (including fuel) grew by 6% successful enactment with accrued operations. Fuel remains the largest constituent of the airline’s operating outgo (32%), compared to 34% successful the aforesaid play past year.

Driven by lawsuit request and accrued operations during the six months, Emirates’ EBITDA of AED19.1 cardinal (US$ 5.2 billion) remained precise strong, though somewhat down by 2% compared to AED19.5 cardinal (US$ 5.3 billion) for the aforesaid play past year.

In the archetypal fractional of 2024-25, dnata’s airdrome services and catering and retail divisions won respective important caller contracts, and grew existing customers crossed its planetary operations.

dnata’s revenue, including different operating income, of AED10.4 cardinal (US$ 2.8 billion) accrued by 11% compared to AED9.3 cardinal (US$ 2.5 billion) generated successful the aforesaid play past year.

Overall nett earlier taxation for dnata is AED720 cardinal (US$ 196 million), down by 5% from the aforesaid play past year, chiefly owed to a one-off impairment complaint of AED152 million. dnata’s nett aft taxation is AED571 cardinal (US$ 156 million).

Illustrating its operating profitability, dnata’s EBITDA was AED1.3 cardinal (US$ 354 million), up 16% from past year’s AED1.1 cardinal (US$ 305 million).

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