Dubai: The Emirates Group on Thursday, November 7, announced its highest-ever half-year financial performance, posting a profit before tax of Dirham 10.4 billion (Rs 2,38,83,45,44,000) for the first six months of 2024-25, surpassing its record profit from the previous year.
“I am proud to announce that The Emirates Group has surpassed its record performance of last year to deliver a fantastic result for the first-half of 2024-25,” Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, said in a post on X.
“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,” he added.
Emirates Group recorded post-tax profit of Dirham 9.3 billion (Rs 2,13,56,80,83,000), after accounting for the 9 per cent tax charge.
The group maintained a strong operating profitability with an EBITDA of Dirham 20.4 billion (Rs 4,68,47,19,24,000), slightly lower than the previous year’s Dirham 20.6 billion (Rs 4,73,06,47,86,000).
Its revenue was Dirham 70.8 billion (Rs 16,25,87,31,48,000) for the first six months of 2024-25, up five per cent from Dirham 7.3 billion (Rs 1,67,63,94,63,000) last year. This reflects the consistently strong customer demand across business divisions, and across regions.
The group’s cash position in the first half of 2024-25 was Dirham 43.7 billion (Rs 10,03,54,03,47,000), down from Dirham 47.1 billion (Rs 10,81,61,90,01,000) on March 31, 2024. It also paid Dirham 2 billion (Rs 45,92,86,20,000) in dividend to its owner, as declared at the end of its 2023-24 financial year.
The airline business’s profit before tax increased by 2 percent to Dirham 9.7 billion (Rs 2,22,75,38,07,000) in the first six months of the financial year, while Dnata’s earnings dropped by 5 percenr to Dirham 720 million (Rs 16,53,43,03,200).
Emirates Airline experienced a 3 percent increase in passenger flows through its Dubai hub, carrying 26.9 million passengers between April 1 and September 30.
The airline’s cargo division transported 1.2 million tonnes in Q1 2021, a 16 percent increase from the previous year, primarily due to strong Chinese eCommerce demand and increased Dubai shipments.
Emirates SkyCargo expanded capacity with a new Boeing 777 freighter and two wet-leased 747Fs, and placed orders for 10 more in 2024-25 to support growth.
The airline has invested Dirham 44 million (Rs 1,01,04,29,640) in opening new airport lounges in London Stansted and Jeddah airports, and refurbished its existing facility at Paris Charles De Gaulle.
Emirates’ operating costs, including fuel, increased by 6 percent due to increased operations, with fuel remaining the largest component at 32 percent, down from 34 percent in the previous year.
