Latest news with #NordicAviationCapitalDAC
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.
Hi Dubai
30-04-2025
- Business
- Hi Dubai
Dubai Aerospace Enterprise Records 26.5% Jump in Q1 Net Profit
Dubai Aerospace Enterprise (DAE) reported a strong start to 2025, with a 26.5% rise in first-quarter net profit, reaching US$85.8 million compared to US$67.8 million in the same period last year. The aircraft leasing and maintenance giant also saw its profit before tax climb 45% to US$101.2 million, supported by a 15.2% boost in revenue, which totaled US$395.9 million. The growth was largely driven by higher maintenance income and gains from aircraft sales. DAE CEO Firoz Tarapore described the quarter as 'outstanding,' citing a pre-tax profit margin above 25% and a return on equity of 13%, enabled by a favorable market and the firm's scalable model. In a major strategic move, DAE signed a definitive agreement to acquire Nordic Aviation Capital DAC (NAC) for US$2 billion. The acquisition will add around 200 aircraft to its owned fleet and 25 more on order from Airbus and ATR. DAE also finalized deals to acquire 17 next-generation aircraft leased to 11 airlines across 10 countries, representing an additional US$1 billion investment. The company expanded its managed asset base by onboarding a new client for its full suite of aircraft life cycle services. Meanwhile, DAE's engineering arm, Joramco, reported a 31% surge in revenue and a 71% jump in profitability, underscoring the group's strong performance across all business segments. News Source: Emirates News Agency
