Latest news with #AED1.8
Zawya
30-04-2025
- Business
- Zawya
Aldar Properties profit before tax jumps 33% to $599mln
Aldar Properties has reported a 33% year-on-year increase in profit before tax to AED2.2 billion ($599 million) for the first quarter of 2025, with net profit after tax rising by 22% year-on-year to AED1.9 billion. Mohamed Khalifa Al Mubarak, Chairman of Aldar, said the company's performance at the beginning of the year reflects the strength and diversification of its business sectors, and its ability to operate efficiently and grow in line with a clear strategy to create sustainable long-term value, said a Wam news agency report. He added that the UAE offers a conducive environment for stability and business growth, with a focus on investing in vital sectors, attracting business, and diversifying the economy. He said Aldar is well positioned to deliver sustainable performance, deploy capital efficiently, and strengthen its role as a long-term partner in shaping the UAE's economic development, noting that the development revenue backlog has reached a record AED55.7 billion. Talal Al Dhiyebi, Group CEO of Aldar, said Aldar delivered strong financial results in the first quarter, driven by continued momentum across its core business segments. Development sales remained strong, increasing by 42% to AED8.9 billion. Meanwhile, construction is progressing on new projects in line with plans amid sustained demand from both local and international buyers, he said. He added that at the start of the year, Aldar proactively took steps to strengthen its financial position and enhance liquidity through capital markets issuances and securing a syndicated loan. In terms of key financial highlights, Aldar recorded AED46.7 billion in UAE revenue backlog, indicating strong revenue visibility over the next two to three years. Sales to international and resident buyers in the UAE rose to AED7.4 billion, representing 87% of total UAE sales. Aldar further enhanced its capital structure and financial flexibility through the issuance of AED3.7 billion in hybrid capital notes, AED1.8 billion in green sukuk, and securing AED9 billion in syndicated revolving credit facilities and a AED1.8 billion hybrid capital solution from Apollo. The project management services backlog reached AED88.7 billion as of the end of March 2025, of which AED49.5 billion is under construction, reflecting strong government investment in infrastructure and housing. In Q1, Aldar also recorded a 25% year-on-year increase in earnings per share to AED0.20, supported by earnings growth across all platforms. Aldar maintains a strong liquidity position to support its growth plans, with AED10.2 billion in unrestricted cash and AED19.3 billion in undrawn bank facilities as of end-March. Aldar Development recorded a 46 percent year-on-year increase in revenue to AED5.7 billion, with EBITDA rising by 50 percent to AED1.8 billion, driven by revenue backlog and strong sales from new launches and existing inventory amid sustained international demand. Aldar Investment continued to deliver on its diversification and growth strategy, with EBITDA rising by 10% year-on-year to AED764 million — a 20% increase excluding gains from asset sales — while assets under management grew to AED46 billion. Internationally, SODIC contributed AED172 million in revenue to Aldar Development, with revenue backlog reaching AED6.3 billion by end-March 2025. London Square contributed AED135 million to Aldar Development revenue. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Dubai Eye
30-04-2025
- Business
- Dubai Eye
Aldar reports AED1.9 billion net profit in Q1 2025
Aldar Properties today announced its financial results for the first quarter of 2025, reporting a 33 per cent year-on-year increase in profit before tax to AED 2.2 billion, with net profit after tax rising by 22 per cent year-on-year to AED 1.9 billion. Mohamed Khalifa Al Mubarak, Chairman of Aldar, said the company's performance at the beginning of the year reflects the strength and diversification of its business sectors, and its ability to operate efficiently and grow in line with a clear strategy to create sustainable long-term value. He added that the UAE offers a conducive environment for stability and business growth, with a focus on investing in vital sectors, attracting business, and diversifying the economy. He said Aldar is well positioned to deliver sustainable performance, deploy capital efficiently, and strengthen its role as a long-term partner in shaping the UAE's economic development, noting that the development revenue backlog has reached a record AED 55.7 billion. Talal Al Dhiyebi, Group CEO of Aldar, said Aldar delivered strong financial results in the first quarter, driven by continued momentum across its core business segments. Net profit before tax rose by 33 per cent to AED 2.2 billion, while development sales remained strong, increasing by 42 per cent to AED 8.9 billion. Meanwhile, construction is progressing on new projects in line with plans amid sustained demand from both local and international buyers. He added that at the start of the year, Aldar proactively took steps to strengthen its financial position and enhance liquidity through capital markets issuances and securing a syndicated loan. In terms of key financial highlights, Aldar recorded AED 46.7 billion in UAE revenue backlog, indicating strong revenue visibility over the next two to three years. Sales to international and resident buyers in the UAE rose to AED 7.4 billion, representing 87 per cent of total UAE sales. Aldar further enhanced its capital structure and financial flexibility through the issuance of AED 3.7 billion in hybrid capital notes, AED1.8 billion in green sukuk, and securing AED 9 billion in syndicated revolving credit facilities and a AED 1.8 billion hybrid capital solution from Apollo. The project management services backlog reached AED88.7 billion as of the end of March 2025, of which AED49.5 billion is under construction, reflecting strong government investment in infrastructure and housing. In Q1, Aldar also recorded a 25 per cent year-on-year increase in earnings per share to AED 0.20, supported by earnings growth across all platforms. Aldar maintains a strong liquidity position to support its growth plans, with AED 10.2 billion in unrestricted cash and AED 19.3 billion in undrawn bank facilities as of end-March. Aldar Development recorded a 46 per cent year-on-year increase in revenue to AED 5.7 billion, with EBITDA rising by 50 per cent to AED 1.8 billion, driven by revenue backlog and strong sales from new launches and existing inventory amid sustained international demand. Aldar Investment continued to deliver on its diversification and growth strategy, with EBITDA rising by 10 per cent year-on-year to AED 764 million — a 20% increase excluding gains from asset sales — while assets under management grew to AED 46 billion. Internationally, SODIC contributed AED 172 million in revenue to Aldar Development, with revenue backlog reaching AED 6.3 billion by end-March 2025. London Square contributed AED 135 million to Aldar Development revenue.
ARN News Center
29-04-2025
- Business
- ARN News Center
Aldar reports AED1.9 billion net profit in Q1 2025
Aldar Properties today announced its financial results for the first quarter of 2025, reporting a 33 per cent year-on-year increase in profit before tax to AED 2.2 billion, with net profit after tax rising by 22 per cent year-on-year to AED 1.9 billion. Mohamed Khalifa Al Mubarak, Chairman of Aldar, said the company's performance at the beginning of the year reflects the strength and diversification of its business sectors, and its ability to operate efficiently and grow in line with a clear strategy to create sustainable long-term value. He added that the UAE offers a conducive environment for stability and business growth, with a focus on investing in vital sectors, attracting business, and diversifying the economy. He said Aldar is well positioned to deliver sustainable performance, deploy capital efficiently, and strengthen its role as a long-term partner in shaping the UAE's economic development, noting that the development revenue backlog has reached a record AED 55.7 billion. Talal Al Dhiyebi, Group CEO of Aldar, said Aldar delivered strong financial results in the first quarter, driven by continued momentum across its core business segments. Net profit before tax rose by 33 per cent to AED 2.2 billion, while development sales remained strong, increasing by 42 per cent to AED 8.9 billion. Meanwhile, construction is progressing on new projects in line with plans amid sustained demand from both local and international buyers. He added that at the start of the year, Aldar proactively took steps to strengthen its financial position and enhance liquidity through capital markets issuances and securing a syndicated loan. In terms of key financial highlights, Aldar recorded AED 46.7 billion in UAE revenue backlog, indicating strong revenue visibility over the next two to three years. Sales to international and resident buyers in the UAE rose to AED 7.4 billion, representing 87 per cent of total UAE sales. Aldar further enhanced its capital structure and financial flexibility through the issuance of AED 3.7 billion in hybrid capital notes, AED1.8 billion in green sukuk, and securing AED 9 billion in syndicated revolving credit facilities and a AED 1.8 billion hybrid capital solution from Apollo. The project management services backlog reached AED88.7 billion as of the end of March 2025, of which AED49.5 billion is under construction, reflecting strong government investment in infrastructure and housing. In Q1, Aldar also recorded a 25 per cent year-on-year increase in earnings per share to AED 0.20, supported by earnings growth across all platforms. Aldar maintains a strong liquidity position to support its growth plans, with AED 10.2 billion in unrestricted cash and AED 19.3 billion in undrawn bank facilities as of end-March. Aldar Development recorded a 46 per cent year-on-year increase in revenue to AED 5.7 billion, with EBITDA rising by 50 per cent to AED 1.8 billion, driven by revenue backlog and strong sales from new launches and existing inventory amid sustained international demand. Aldar Investment continued to deliver on its diversification and growth strategy, with EBITDA rising by 10 per cent year-on-year to AED 764 million — a 20% increase excluding gains from asset sales — while assets under management grew to AED 46 billion. Internationally, SODIC contributed AED 172 million in revenue to Aldar Development, with revenue backlog reaching AED 6.3 billion by end-March 2025. London Square contributed AED 135 million to Aldar Development revenue.
Trade Arabia
29-04-2025
- Business
- Trade Arabia
Aldar Properties profit before tax jumps 33% to $599m
Aldar Properties has reported a 33% year-on-year increase in profit before tax to AED2.2 billion ($599 million) for the first quarter of 2025, with net profit after tax rising by 22% year-on-year to AED1.9 billion. Mohamed Khalifa Al Mubarak, Chairman of Aldar, said the company's performance at the beginning of the year reflects the strength and diversification of its business sectors, and its ability to operate efficiently and grow in line with a clear strategy to create sustainable long-term value, said a Wam news agency report. He added that the UAE offers a conducive environment for stability and business growth, with a focus on investing in vital sectors, attracting business, and diversifying the economy. He said Aldar is well positioned to deliver sustainable performance, deploy capital efficiently, and strengthen its role as a long-term partner in shaping the UAE's economic development, noting that the development revenue backlog has reached a record AED55.7 billion. Talal Al Dhiyebi, Group CEO of Aldar, said Aldar delivered strong financial results in the first quarter, driven by continued momentum across its core business segments. Development sales remained strong, increasing by 42% to AED8.9 billion. Meanwhile, construction is progressing on new projects in line with plans amid sustained demand from both local and international buyers, he said. He added that at the start of the year, Aldar proactively took steps to strengthen its financial position and enhance liquidity through capital markets issuances and securing a syndicated loan. In terms of key financial highlights, Aldar recorded AED46.7 billion in UAE revenue backlog, indicating strong revenue visibility over the next two to three years. Sales to international and resident buyers in the UAE rose to AED7.4 billion, representing 87% of total UAE sales. Aldar further enhanced its capital structure and financial flexibility through the issuance of AED3.7 billion in hybrid capital notes, AED1.8 billion in green sukuk, and securing AED9 billion in syndicated revolving credit facilities and a AED1.8 billion hybrid capital solution from Apollo. The project management services backlog reached AED88.7 billion as of the end of March 2025, of which AED49.5 billion is under construction, reflecting strong government investment in infrastructure and housing. In Q1, Aldar also recorded a 25% year-on-year increase in earnings per share to AED0.20, supported by earnings growth across all platforms. Aldar maintains a strong liquidity position to support its growth plans, with AED10.2 billion in unrestricted cash and AED19.3 billion in undrawn bank facilities as of end-March. Aldar Development recorded a 46 percent year-on-year increase in revenue to AED5.7 billion, with EBITDA rising by 50 percent to AED1.8 billion, driven by revenue backlog and strong sales from new launches and existing inventory amid sustained international demand. Aldar Investment continued to deliver on its diversification and growth strategy, with EBITDA rising by 10% year-on-year to AED764 million — a 20% increase excluding gains from asset sales — while assets under management grew to AED46 billion. Internationally, SODIC contributed AED172 million in revenue to Aldar Development, with revenue backlog reaching AED6.3 billion by end-March 2025. London Square contributed AED135 million to Aldar Development revenue.
Al Etihad
05-03-2025
- Automotive
- Al Etihad
ADNOC to create AED220+ billion global chemicals powerhouse
4 Mar 2025 01:24 ABU DHABI-VIENNA (WAM)ADNOC and Austria's OMV have announced today that they will merge their shareholdings in Borouge plc and Borealis AG to create Borouge Group new combined company will then acquire NOVA Chemicals Corporation, a North American producer, for AED49.2 billion. With the inclusion of Borouge 4, Borouge Group International will become a AED220+ billion global integrated chemicals powerhouse and the world's fourth largest producer of Group International will be jointly owned and controlled by ADNOC and OMV, with headquarters in Vienna and Abu Dhabi. As part of the transaction, OMV will inject €1.6 billion (AED6.1 billion) in cash into the consolidated company to equalize its share. Borouge Group International will have best-in-class margins with around AED1.8 billion in synergies each year, and will deliver dividend growth for existing Borouge plc shareholders, who will be owners in the new company listed on the Abu Dhabi Securities Exchange (ADX).Dr. Sultan Ahmed Al Jaber, ADNOC Managing Director and Group CEO, said: 'These transformative transactions mark a pivotal milestone in ADNOC's global chemicals strategy as we deliver on our international growth mandate, under the guidance of the UAE leadership. Building on our 25-year strategic partnership with OMV, we will create a new industry powerhouse, with a portfolio of premium products, cutting-edge technologies and worldwide market access. The visionary combination of Borouge and Borealis and acquisition of Nova Chemicals, further future-proofs ADNOC and solidifies Abu Dhabi's status as a leader in the chemicals sector, as we seek to meet the growing global demand for chemicals and associated products, while driving value creation and growth opportunities for our shareholders.'Borouge Group International will combine the complementary strengths of the three international polyolefin leaders – Borouge, Borealis, and NOVA – including competitive feedstocks, access to growth markets, world-class technologies, and leadership in recyclable products. The new company will also benefit from complementary product lines, from Borouge's innovative agricultural products to Borealis' textiles and Nova's sustainable packaging solutions. The Borouge 4 expansion is expected to be transferred into the new company in 2026 at a cost of approximately AED27.5 billion, making it the world's fourth largest polyolefin producer by nameplate capacity with 13.6 million tonnes per annum (mtpa) of capacity across Europe, the Middle East and North agreement strengthens the close historical collaboration and strategic partnership between ADNOC and OMV. Upon completion, ADNOC's stake in Borouge Group International will be transferred to XRG, ADNOC's international energy investment company. XRG, launched in 2024 with an enterprise value of over $80 billion, is the latest development in ADNOC's strategy to accelerate international growth and drive greater value, and will initially focus on projects across the energy spectrum, from gas to chemicals to low-carbon fuels and energy infrastructure. Polyolefins are durable and lightweight materials widely used in manufacturing and everyday products including packaging, household goods, medical supplies and textiles.
