Emirates Group reports ‘best-ever financial performance’
Emirates Group has reported its best-ever financial performance with record profit of AED 18.7 billion (US$ 5.1 billion), up 71% from last year.
Group revenue increased 15% to a new…
Emirates Group has reported its best-ever financial performance with record profit of AED 18.7 billion (US$ 5.1 billion), up 71% from last year.
Group revenue increased 15% to a new high of AED 137.3 billion (US$ 37.4 billion), driven by strong customer demand across its businesses.
The company ends the year with the highest-ever cash balance of AED 47.1 billion (US$ 12.8 billion).
The group has declared a dividend of AED 4.0 billion (US$ 1.1 billion) to its owner, the Investment Corporation of Dubai (ICD).
Emirates reported new record profit of AED 17.2 billion (US$ 4.7 billion), up 63% from AED 10.6 billion (US$ 2.9 billion) last year.
Revenue rose 13% to AED 121.2 billion (US$ 33.0 billion), as the airline deployed more capacity, and continued to strengthen its global network and partnerships.
Airline capacity increased by 20% to 57.7 billion ATKMs, closing the gap to pre-pandemic levels.
Meanwhile, dnata reported a profit of AED 1.4 billion (US$ 0.4 billion), significantly improved from its AED 331 million (US$ 90 million) profit last year.
Revenue increased 29% to hit a new record AED 19.2 billion (US$ 5.2 billion), reflecting increased customer flight activity and travel demand across its UAE and worldwide business divisions.
The company has expanded its customer portfolio with new contracts, adds lounge facilities in new global markets, and invested in new equipment and technologies to enhance operations and services.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates airline and group said: “The Emirates Group has once again raised the bar to deliver a new record performance. Throughout the year, we saw high demand for air transport and travel related services around the world, and because we were able to move quickly to deliver what customers want, we achieved tremendous results.
“We are reaping the benefit of years of non-stop investments in our products and services, in building strong partnerships, and in the capabilities of our talented people.
“Huge credit is also due to the UAE’s visionary leaders, especially HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. It is thanks to their leadership and the nation’s progressive policies that the Emirates Group is able to flourish. Both Emirates and dnata have forged successful business models leveraging Dubai’s unique advantages, in turn generating enormous value for Dubai and the communities they serve around the world.”Subscribe to the FINN weekly newsletter
