The Emirates Group has announced impressive financial results for the first half of its 2024-25 financial year, reporting a profit before tax of Dh10.4 billion (approximately $2.5 billion). This remarkable achievement reflects the Group’s strong performance and growing customer demand across its various business divisions.
Strong Revenue Growth
In the first six months, the Emirates Group generated revenues of Dh70.8 billion (around $19.3 billion), marking a 5% increase compared to the same period last year. This growth is attributed to the rising demand for air travel and services, highlighting the resilience of the Group’s business model.
Sheikh Ahmed bin Saeed Al Maktoum, the Chairman and CEO of Emirates Airlines and Group, expressed pride in these results, stating, “We have exceeded last year’s record performance, delivering an outstanding result for the first half of 2024-25.” This positive outlook is a testament to Dubai’s growing status as a global hub for tourism, business, and living.
Profit Figures and Corporate Tax
After accounting for corporate tax, the Emirates Group’s profit after tax stands at Dh9.3 billion (approximately $2.5 billion). This represents a 1% increase from the previous year, showcasing the Group’s ability to maintain profitability even in a competitive market. Sheikh Ahmed also emphasized the Group’s commitment to expanding capacity and revenue, with new aircraft and facilities set to join their operations.
Strong Cash Position
As of September 30, 2024, the Emirates Group reported a robust cash position of Dh43.7 billion ($11.9 billion), slightly down from Dh47.1 billion ($12.8 billion) at the end of March 2024. This solid cash reserve enables the Group to meet various business needs, including investments in new aircraft and technology.
“Our strong profitability allows us to invest in products, services, and innovation projects for continued growth,” added Sheikh Ahmed. This forward-thinking approach is crucial for maintaining a competitive edge in the aviation industry.
dnata’s Performance
In addition to the airline’s success, dnata, the Group’s ground handling and travel services division, also reported strong performance. For the first half of 2024-25, dnata’s revenue increased by 11% to Dh10.4 billion ($2.8 billion), compared to Dh9.3 billion in the same period last year. However, dnata’s profit before tax saw a slight decline of 5%, primarily due to a one-time impairment charge.
Conclusion
The Emirates Group’s remarkable financial results for the first half of 2024-25 underscore its resilience and adaptability in a dynamic market. With a strong cash position and positive outlook, the Group is well-positioned to continue its growth trajectory and enhance its services for customers around the globe. As travel demand remains robust, Emirates is set to expand its operations, further solidifying its status as a leading player in the aviation industry.
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