Emirates Group announced its highest-ever half-year financial performance with AED 10.4 billion (USD 2.8 billion) in pre-tax profit for the first six months of 2024-25, surpassing last year’s record.

Emirates Group announced its highest-ever half-year financial performance with AED 10.4 billion (USD 2.8 billion) in pre-tax profit for the first six months of 2024-25, surpassing last year’s record.

In a press statement, Emirates says that this includes the 9 pc corporate tax in the United Arab Emirates, introduced in 2023, resulting in AED 9.3 billion (USD 2.5 billion) in post-tax profit.

The statement adds that the group’s revenue rose by 5 pc to AED 70.8 billion (USD 19.3 billion), reflecting strong demand across Emirates Airline and dnata, its ground services division.

The Emirates Group reported a stable Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of AED 20.4 billion (USD 5.6 billion) despite rising operational expenses.

The Group maintained a solid cash position of AED 43.7 billion (USD 11.9 billion) as of September 30, supporting recent freighter purchases and ongoing investments, including a dividend of AED 2 billion distributed to its owner after last year’s record profit close.

Sheikh Ahmed bin Saeed Al Maktoum

“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,” says Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group.

“The group’s strong profitability enables us to make the investments necessary for our continued success. We are investing billions of dollars to bring new products and services to the market for our customers; to implement advanced technologies and other innovation projects to drive growth; and to look after our employees who work hard every day to ensure our customers’ safety and satisfaction,” he adds.

“We expect customer demand to remain strong for the rest of 2024-25, and we look forward to increasing our capacity to grow revenues as new aircraft join the Emirates fleet and new facilities come online at dnata. The outlook is positive, but we don’t intend to rest on our laurels. We will stay agile in deploying our capacity and resources in a dynamic marketplace,” Maktoum adds.

Emirates says that in line with its environmental goals, the group has invested in sustainable aviation fuel and became an industry partner with the Aviation Impact Accelerator (AIA) at Cambridge University.

The statement adds that Emirates is channelling funds into sustainability research and development, marking its first disbursement from a USD 200 million commitment to green aviation.

The firm adds that dnata’s revenue has increased by 11 pc to AED 10.4 billion (USD 2.8 billion) due to growing demand for ground services in markets like Australia, the UK, and Singapore.

Expanding its operations, dnata began service at Raleigh-Durham in the United States and increased cargo capacity in Zurich by 50 pc. Notable achievements included dnata’s investments in biodiesel-powered ground support equipment (GSE) in the UAE and electric GSE in Brazil.

The statement adds that dnata’s catering revenue also grew by 8 pc to AED 3.7 billion (USD 1 billion), addressing increased demand in Australia and the UK.

Its travel division revenue jumped 23 pc to AED 1.8 billion (USD 483 million), with continued growth from brands like ‘Imagine Cruising’ and ‘Destination Asia’.

With continued customer demand and new aircraft joining its fleet, Emirates says it expects steady growth through 2024-25, further strengthening its Dubai hub and expanding capacity across its cargo and passenger networks.