Latest news with #DAEEngineering
Mid East Info
4 days ago
- Business
- Mid East Info
DAE Announces Financial Results for the Six Months Ended June 30, 2025 - Middle East Business News and Information
Revenue up 24%; Profit Before Tax up 228% Dubai, 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$23 billion. DAE Engineering provides regional MRO services to customers in Europe, Middle East, Africa, and South Asia from its state-of-the-art facility in Amman, Jordan, accommodating up to 17 wide and narrow body aircraft. It is authorized to work on 16 aircraft types and has regulatory approval from over 30 regulators globally.
Mid East Info
30-04-2025
- Business
- Mid East Info
DAE Announces Financial Results for the Three Months Ended March 31, 2025 - Middle East Business News and Information
Revenue up 15%, Pre-Tax Profits Rise by 45% Dubai, U.A.E., April 2025 – Dubai Aerospace Enterprise (DAE) Ltd ('DAE') today reported its financial results for the three months ended March 31, 2025. The consolidated financial statements can be found here. Selected Financial Highlights: Three months ended US$ millions Mar 31, 2025 Mar 31, 2024 Total Revenue 395.9 343.6 Profit before Tax 101.2 69.7 Operating Cash Flow 344.7 324.1 Pre-Tax Profit Margin 25.6% 20.3% Pre-Tax Return on Equity 13.0% 9.7% As at US$ millions Mar 31, 2025 Dec 31, 2024 Total Assets 13,102.0 13,033.3 Net Loans and Borrowings 7,991.0 7,999.7 Available Liquidity 3,018.0 3,785.6 Net Debt-to-Equity 2.43x 2.42x Unsecured Debt Percentage 80.1% 79.4% Liquidity Coverage Ratio 213% 274% Selected Business and Operating Highlights: Number of aircraft acquired: 19 (owned: 13; managed: 6) (owned: 13; managed: 6) Number of aircraft sold: 15 (owned: 11; managed: 4) (owned: 11; managed: 4) Lease agreements, extensions, and amendments signed: 61 (owned: 46; managed: 15) (owned: 46; managed: 15) Owned portfolio contracted: 99% Number of man hours booked (DAE Engineering): ~500,000 Number of checks performed (DAE Engineering): 102 KBRA affirmed rating of BBB+ and upgraded Outlook to Positive from Stable Signed agreement to acquire Nordic Aviation Capital DAC; enterprise value of US$2.0 billion Signed agreements to acquire 17 aircraft for US$1.0 billion Commenting on the results, Firoz Tarapore, Chief Executive Officer of DAE, stated, 'The first quarter of 2025 was an outstanding quarter from a financial and operational perspective. Our pre-tax profit margin exceeded 25% and our return on equity climbed to 13% as a result of a favorable operating environment and the scalability of our business model. During the quarter, we entered into a definitive agreement to acquire Nordic Aviation Capital DAC ('NAC') for an enterprise value of US$2.0 billion. When completed, the acquisition of NAC will add approximately 200 owned aircraft to our fleet, and approximately 25 aircraft on order from Airbus and ATR. We also signed definitive agreements to acquire 17 fuel efficient, next generation aircraft on lease to 11 airline customers in 10 countries for an additional investment of US$1.0 billion. We acquired an additional managed asset client to provide our full suite of aircraft life cycle management services. Forward Looking Statements: Certain information contained in this Press Release may constitute 'forward-looking statements' which can be identified by the use of forward-looking terminology such as 'may', 'will', 'should', 'could', 'continue', 'expect', 'anticipate', 'predict', 'project', 'plan', 'estimate', 'budget', 'assume', 'potential', 'future', 'intend' or 'believe' or the negatives thereof or other comparable terminology. These statements reflect DAE's current expectations and assumptions and involve known and unknown risks regarding future events, results or outcomes and are not guarantees of future results or financial condition. Actual results, performance, achievements, or conditions may differ materially from those in the forward‐looking statements and assumptions as a result of a number of factors, many of which are beyond DAE's control. Non-IFRS Financial Information: This Press Release may include certain non-IFRS financial information, such as Adjusted EBITDA, not prepared in accordance with IFRS. Because of the limitations of Adjusted EBITDA, it should not be considered as a substitute for financial information prepared or determined in accordance with IFRS, as applicable. Where applicable, DAE compensates for these limitations by relying primarily on its IFRS results and using Adjusted EBITDA only for supplemental purposes.
Zawya
30-04-2025
- Business
- Zawya
DAE announces financial results for the three months ended March 31, 2025
RELATED TOPICS EARNINGS RELATED COMPANIES DAE Engineering Airbus NL DAE Capital Outlook DAE Capital Dubai, U.A.E. – Dubai Aerospace Enterprise (DAE) Ltd (' DAE ') today reported its financial results for the three months ended March 31, 2025. The consolidated financial statements can be found here. Selected Financial Highlights: Three months ended US$ millions Mar 31, 2025 Mar 31, 2024 Total Revenue 395.9 343.6 Profit before Tax 101.2 69.7 Operating Cash Flow 344.7 324.1 Pre-Tax Profit Margin 25.6% 20.3% Pre-Tax Return on Equity 13.0% 9.7% As at US$ millions Mar 31, 2025 Dec 31, 2024 Total Assets 13,102.0 13,033.3 Net Loans and Borrowings 7,991.0 7,999.7 Available Liquidity 3,018.0 3,785.6 Net Debt-to-Equity 2.43x 2.42x Unsecured Debt Percentage 80.1% 79.4% Liquidity Coverage Ratio 213% 274% Selected Business and Operating Highlights: Number of aircraft acquired: 19 (owned: 13; managed: 6) Number of aircraft sold: 15 (owned: 11; managed: 4) Lease agreements, extensions, and amendments signed: 61 (owned: 46; managed: 15) Owned portfolio contracted: 99% Number of man hours booked (DAE Engineering): ~500,000 Number of checks performed (DAE Engineering): 102 KBRA affirmed rating of BBB+ and upgraded Outlook to Positive from Stable Signed agreement to acquire Nordic Aviation Capital DAC; enterprise value of US$2.0 billion Signed agreements to acquire 17 aircraft for US$1.0 billion Commenting on the results, Firoz Tarapore, Chief Executive Officer of DAE, stated, 'The first quarter of 2025 was an outstanding quarter from a financial and operational perspective. Our pre-tax profit margin exceeded 25% and our return on equity climbed to 13% as a result of a favorable operating environment and the scalability of our business model. During the quarter, we entered into a definitive agreement to acquire Nordic Aviation Capital DAC (' NAC ') for an enterprise value of US$2.0 billion. When completed, the acquisition of NAC will add approximately 200 owned aircraft to our fleet, and approximately 25 aircraft on order from Airbus and ATR. We also signed definitive agreements to acquire 17 fuel efficient, next generation aircraft on lease to 11 airline customers in 10 countries for an additional investment of US$1.0 billion. We acquired an additional managed asset client to provide our full suite of aircraft life cycle management services. DAE Engineering continued its exceptional performance with a strong financial results in the first quarter of 2025. Joramco revenue increased by 31% and profitability increased by 71%.' Webcast and Conference Call DAE will host its earnings call on Wednesday, April 30, 2025 at 09:00 EDT / 14:00 BST / 17:00 GST / 21:00 SGT to review its financial results for the three months ended March 31, 2025. The webcast can be accessed by registering at Or alternatively the call can be accessed live by dialing (UAE) 800 017 8030, (Ireland) +353 (0) 1 526 9444, (UK) +44 1 212 818 004, (USA) +1 718 705 8796, (Singapore) +65 3158 0246 and quote 'Dubai Aerospace Enterprise' when prompted. Further information can be found on our website 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. -Ends- 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 170 airline customers in over 65 countries from its seven office locations in Dubai, Dublin, Amman, Singapore, Miami, New York, and Seattle. DAE Capital is an award-winning aircraft lessor with an owned, managed, and committed fleet of approximately 500 Airbus, ATR, and Boeing aircraft with a fleet value of US$20 billion. DAE Engineering provides regional MRO services to customers in Europe, Middle East, Africa, and South Asia from its state-of-the-art facility in Amman, Jordan, accommodating up to 17 wide and narrow body aircraft. It is authorized to work on 15 aircraft types and has regulatory approval from over 25 regulators globally. More information can be found on the company's website at For further information, please contact:
Mid East Info
06-02-2025
- Business
- Mid East Info
DAE Announces 45% Increase in Pre-Tax Profits for Full Year 2024 Revenue Increases by a Solid 9% - Middle East Business News and Information
Dubai Aerospace Enterprise (DAE) Ltd ('DAE') today reported its financial results for the year ended December 31, 2024. The consolidated financial statements can be found here. Selected Financial Highlights: Year Ended US$ millions Dec 31, 2024 Dec 31, 2023 Total Revenue 1,429.6 1,315.7 Profit before Tax 532.3 366.3 Operating Cash Flow 1,386.0 1,233.2 Adjusted Pre-Tax Profit Margin (1) 23.2% 18.8% Adjusted Pre-Tax Return on Equity (1) 11.0% 8.5% As at US$ millions Dec 31, 2024 Dec 31, 2023 Total Assets 13,033.3 12,262.5 Net Loans and Borrowings 7,999.7 7,592.1 Available Liquidity 3,785.6 4,062.2 Net-Debt-to-Equity 2.42x 2.53x Unsecured Debt Percentage 79.4% 73.3% Liquidity Coverage Ratio 274% 290% (1) Adjusted to exclude exceptional items. Selected Business and Operating Highlights: Number of aircraft acquired: 83 (owned: 30; managed: 53) (owned: 30; managed: 53) Number of aircraft sold: 68 (owned: 19; managed: 49) (owned: 19; managed: 49) Lease agreements, extensions, and amendments signed: 233 (owned: 190; managed: 43) (owned: 190; managed: 43) Placed on long-term lease 17 Boeing 737 MAX aircraft to Turkish Airlines, Eastar Jet, and Hainan Airlines. aircraft to Turkish Airlines, Eastar Jet, and Hainan Airlines. Number of man hours booked (DAE Engineering): ~1,600,000 Number of checks performed (DAE Engineering): 277 Increased hangar capacity by 30% by expanding the number of bays to 22 , including one A380 capable bay. by expanding the number of bays to , including one A380 capable bay. Upgraded by Fitch Ratings and Moody's Ratings to BBB and Baa2 , respectively. and , respectively. Morningstar Sustainalytics ESG Risk Rating: 12.3 ; Industry Top-Rated and Regional Top-Rated for fourth year running Commenting on the results, Firoz Tarapore, Chief Executive Officer of DAE, stated, 'We advanced the franchise forward yet again in 2024 by acquiring 83 owned and managed aircraft, growing revenue by 9% and increasing pre-tax profitability by 45%. This translates into a stellar pre-tax profit margin and return on equity. Our balance sheet today is stronger than ever before and our metrics for capital adequacy, liquidity, and funding are well within our committed bands, which was reflected in ratings actions taken by both Moody's and Fitch during the year. Demand for aircraft from airline customers remains strong. At year-end 2024, all our aircraft were either on long-term leases or under LOI with airline customers, and our order book positions until mid-2026 are committed on long-term leases to airline customers. DAE Engineering continues to deliver record performance with revenue increasing year-on-year by 33% to US$186.4 million, and profitability increasing by 94% to US$43.2 million. The addition of a state-of-the-art hangar with five new lines at our facility in Amman, Jordan, will augment our capacity by approximately 30%, further cementing Joramco's position as one of the leading airframe MRO providers in the region.' Webcast and Conference Call: In connection with the announcement of DAE's results for the year ended December 31, 2024, management will host a conference call on Wednesday, February 05, 2025 at 09:00 EST / 14:00 GMT / 18:00 GST / 22:00 SGT. The call can be accessed live by clicking here from your laptop, tablet, or mobile device, or by dialing one of the global dial-in numbers and quoting 'Dubai Aerospace Enterprise' when prompted. 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.
Zawya
05-02-2025
- Business
- Zawya
DAE announces 45% increase in pre-tax profits for full year 2024
Dubai, U.A.E., – Dubai Aerospace Enterprise (DAE) Ltd (' DAE ') today reported its financial results for the year ended December 31, 2024. The consolidated financial statements can be found here. Selected Financial Highlights: Selected Business and Operating Highlights: Number of aircraft acquired: 83 (owned: 30; managed: 53) Number of aircraft sold: 68 (owned: 19; managed: 49) Lease agreements, extensions, and amendments signed: 233 (owned: 190; managed: 43) Placed on long-term lease 17 Boeing 737 MAX aircraft to Turkish Airlines, Eastar Jet, and Hainan Airlines. Number of man hours booked (DAE Engineering): ~1,600,000 Number of checks performed (DAE Engineering): 277 Increased hangar capacity by 30% by expanding the number of bays to 22, including one A380 capable bay. Upgraded by Fitch Ratings and Moody's Ratings to BBB and Baa2, respectively. Morningstar Sustainalytics ESG Risk Rating: 12.3; Industry Top-Rated and Regional Top-Rated for fourth year running Commenting on the results, Firoz Tarapore, Chief Executive Officer of DAE, stated, 'We advanced the franchise forward yet again in 2024 by acquiring 83 owned and managed aircraft, growing revenue by 9% and increasing pre-tax profitability by 45%. This translates into a stellar pre-tax profit margin and return on equity. Our balance sheet today is stronger than ever before and our metrics for capital adequacy, liquidity, and funding are well within our committed bands, which was reflected in ratings actions taken by both Moody's and Fitch during the year. Demand for aircraft from airline customers remains strong. At year-end 2024, all our aircraft were either on long-term leases or under LOI with airline customers, and our order book positions until mid-2026 are committed on long-term leases to airline customers. DAE Engineering continues to deliver record performance with revenue increasing year-on-year by 33% to US$186.4 million, and profitability increasing by 94% to US$43.2 million. The addition of a state-of-the-art hangar with five new lines at our facility in Amman, Jordan, will augment our capacity by approximately 30%, further cementing Joramco's position as one of the leading airframe MRO providers in the region.' Webcast and Conference Call In connection with the announcement of DAE's results for the year ended December 31, 2024, management will host a conference call on Wednesday, February 05, 2025 at 09:00 EST / 14:00 GMT / 18:00 GST / 22:00 SGT. The call can be accessed live by clicking here from your laptop, tablet, or mobile device, or by dialing one of the global dial-in numbers and quoting 'Dubai Aerospace Enterprise' when prompted. Full details of the call can also be accessed live via the link on DAE's website:
