Latest news with #Dh16.9
Al Etihad
3 days ago
- Business
- Al Etihad
ADX and DFM-listed companies post $15 billion in Q1 net profits: Kamco Invest
30 May 2025 19:48 REDDY (ABU DHABI)Companies listed on Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) recorded a combined net profit of $15 billion in the first quarter of 2025, representing a robust year-on-year (YoY) growth across key sectors, according to a report from Kamco ADX alone contributed $9 billion to the total, while companies on the DFM posted $6 billion in profits, driven largely by strong performances in the banking, telecom, and real estate Dhabi-listed companies witnessed a 9.8% increase in net profits, rising from $8.2 billion in Q1-2024 to $9.0 billion in Q1 2025. The growth was underpinned by strong earnings in the banking sector, which posted a total profit of $2.9 billion, up from $2.4 billion a year earlier. This performance was bolstered by higher earnings across almost all banks, most notably First Abu Dhabi Bank (FAB), which reported a 23.4% YoY increase in net profit to $1.4 billion.'FAB's revenue rose to Dh8.81 billion during the quarter, representing an 11% increase compared to Q1-2024,' the report noted, highlighting "solid business momentum and strong client activity across diversified income streams."Abu Dhabi Commercial Bank also posted solid results, with a 17.3% increase in net profit to $606.6 million, supported by diversified income and enhanced operational the telecom sector, net profits more than doubled, climbing to $1.5 billion in Q1-2025 from $634 million a year earlier. The gain was primarily attributed to Emirates Telecommunication Group (E&), which reported the entire $1.5 billion profit figure. Kamco noted the telco's 18.6% increase in revenue to Dh16.9 billion and 15.4% rise in EBITDA, underscoring efficiency in core energy sector in Abu Dhabi also saw healthy growth, with total earnings rising 7.4% YoY to $2.3 billion. Among top contributors were ADNOC Gas, which recorded a 6.9% rise in profit to $1.3 billion, and ADNOC Drilling, which posted a 24.1% increase to $341 firms saw their aggregate profits grow by 6.3% to $6 billion in Q1 2025, compared to $5.7 billion in the same quarter of 2024. The performance was mainly driven by real estate, transportation, and telecom sectors, while banking, utilities, and consumer services saw YoY declines.'Corporate profits during the period were largely concentrated in the Banking, Real Estate, and Transportation Services sectors, which together accounted for 84.3% of the total net profits in Q1-2025,' the report real estate sector saw one of the strongest growth trends, with total profits increasing by nearly a third to $1.7 billion, up from $1.3 billion in Q1 2024. Emaar Properties led the surge, posting a net profit of $1.01 billion, up 27% YoY, buoyed by sustained demand, successful project launches, and a 50% increase in revenue to Dh10.1 transportation sector reported an 18.4% jump in net profits to $246.7 million. Salik Co., which operates Dubai's toll gates, saw its profits climb 33.6% to $100.9 million, supported by the launch of new gates and the adoption of variable pricing. Banking sector earnings in Dubai slipped by 2.4% to $3.2 billion, largely due to Emirates NBD's profit falling 7.3% to $1.7 billion, driven by higher impairments. However, Dubai Islamic Bank bucked the trend, recording a 9.2% rise in profit to $473.7 million, supported by increased interest and non-interest income.
Khaleej Times
29-04-2025
- Business
- Khaleej Times
e& revenue grows 18.7% to Dh16.9 billion in first quarter
e& has delivered a strong start to 2025, continuing its trajectory of growth and digital leadership. The group posted strong performance across key financial indicators, reflecting the strength of its strategy and rising impact as a global technology group. Consolidated revenue increased to Dh16.9 billion, growing 18.7 per cent year-on-year (YoY), while consolidated net profit increased to Dh5.4 billion — a growth of 129.9 per cent compared to the same period last year. The Group's EBITDA reached Dh7.4 billion, growing 15.4 per cent YoY. The group's total subscriber base reached 194.8 million, an increase of 12.9 per cent YoY, while the number of e& UAE subscribers reached 15.3 million, underscoring the continued demand for e&'s next-generation connectivity, AI-powered solutions, and innovative digital experiences. Hatem Dowidar, Group Chief Executive Officer of e&, said: 'Q1 2025 marks another milestone in e&'s journey, with a strong performance across all fronts. We are translating our ambition into measurable performance via achieving robust financial performance, retaining our network leadership, scaling our footprint across high-potential markets and optimising our assets profile to create a sustainable value for our shareholders.'
