DAE Announces Financial Results for the Six Months Ended June 30, 2025 - Middle East Business News and Information
Dubai, U.A.E.August 2025 – Dubai Aerospace Enterprise (DAE) Ltd ('DAE') today reported its financial results for the six months ended June 30, 2025. The consolidated financial statements can be found here.
Selected Financial Highlights: Six months ended US$ millions Jun 30, 2025 Jun 30, 2024 Total Revenue 843.6 679.2 Profit before Tax 506.8 154.3 Operating Cash Flow 659.0 612.4 Adjusted Pre-Tax Profit Margin (1) 25.7% 22.7% Adjusted Pre-Tax Return on Equity (1) 13.3% 11.0% As at US$ millions Jun 30, 2025 Dec 31, 2024 Total Assets 15,997.4 13,033.3 Net Loans and Borrowings 9,789.2 7,999.7 Available Liquidity 3,649.2 3,785.6 Net-Debt-to-Equity 2.60x 2.42x Unsecured Debt Percentage 84.6% 79.4% Liquidity Coverage Ratio 248% 274%
Adjusted to exclude insurance recoveries.
Selected Business and Operating Highlights: Completed US$2.0 billion acquisition of Nordic Aviation Capital DAC ('NAC')
Number of aircraft acquired: 236 (owned: 230; managed: 6) (2)
(owned: 230; managed: 6) Number of aircraft sold: 35 (owned: 28; managed: 7)
(owned: 28; managed: 7) Aircraft commitments: 90 , including 72 on order with Boeing, Airbus, and ATR
, including on order with Boeing, Airbus, and ATR Lease agreements, extensions, and amendments signed: 107 (owned: 83; managed: 24)
(owned: 83; managed: 24) Owned portfolio contracted: 99.2%
Number of man hours booked (DAE Engineering): ~924,000
Number of checks performed (DAE Engineering): 143 Includes the acquisition of NAC
Commenting on the results, Firoz Tarapore, Chief Executive Officer of DAE, stated, 'We completed the acquisition of Nordic Aviation Capital on May 07, 2025. This acquisition increased our owned, managed and committed fleet by nearly 50% to approximately 750 aircraft. We have fully integrated the front office functions and are on track to fully integrate all middle- and back-office functions and systems by the end of this quarter.
Revenue and profitability rose significantly during this period reflecting the additional revenue from the acquired business and significant savings from refinancing debt and eliminating duplicative expenses. Our capital adequacy, funding, and liquidity metrics remain very strong.
Revenue grew 24% to US$843.6 million; pre-tax margin and return on equity improved to 25.7% and 13.3%, respectively.
DAE Engineering continued its strong performance with Jormaco's revenue up by 26% to US$119 million and profitability up by 80% to US$39.1 million in the first half of 2025.'
Webcast and Conference Call:
In connection with the announcement of DAE's results for the six months ended June 30, 2025, management will host a conference call Wednesday, August 06, 2025 at 09:00 EDT / 14:00 BST / 17:00 GST / 21:00 SGT.
Forward Looking Statements:
Certain information contained in this Press Release may constitute 'forward-looking statements' which can be identified by the use of forward-looking terminology such as 'may', 'will', 'should', 'could', 'continue', 'expect', 'anticipate', 'predict', 'project', 'plan', 'estimate', 'budget', 'assume', 'potential', 'future', 'intend' or 'believe' or the negatives thereof or other comparable terminology. These statements reflect DAE's current expectations and assumptions and involve known and unknown risks regarding future events, results or outcomes and are not guarantees of future results or financial condition. Actual results, performance, achievements, or conditions may differ materially from those in the forward‐looking statements and assumptions as a result of a number of factors, many of which are beyond DAE's control.
Non-IFRS Financial Information:
This Press Release may include certain non-IFRS financial information, such as Adjusted EBITDA, not prepared in accordance with IFRS. Because of the limitations of Adjusted EBITDA, it should not be considered as a substitute for financial information prepared or determined in accordance with IFRS, as applicable. Where applicable, DAE compensates for these limitations by relying primarily on its IFRS results and using Adjusted EBITDA only for supplemental purposes.
About DAE:
Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aviation services corporation with two divisions: DAE Capital and DAE Engineering. Headquartered in Dubai, DAE serves over 200 airline customers in over 80 countries from its seven office locations in Dubai, Dublin, Limerick, Amman, Singapore, Miami, and Seattle.
DAE Capital is an award-winning aircraft lessor with an owned, managed, and committed fleet of approximately 750 Airbus, ATR, Boeing and Embraer aircraft with a fleet value of US$23 billion. DAE Engineering provides regional MRO services to customers in Europe, Middle East, Africa, and South Asia from its state-of-the-art facility in Amman, Jordan, accommodating up to 17 wide and narrow body aircraft. It is authorized to work on 16 aircraft types and has regulatory approval from over 30 regulators globally.
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