EZDAN (ERES) investor relations material

Executive summary

• Net profit attributable to owners reached QAR 114 million for FY 2025, up from QAR 105 million year-over-year.

• Rental income increased by QAR 58 million to QAR 1.8 billion, a 3.3% rise compared to the previous year.

• Operating profit from main operations rose by QAR 66 million to QAR 1.55 billion, a 4.5% increase year-over-year.

• EPS remained stable at QAR 0.004.

• Investment properties represent 97% of total assets, valued at QAR 44.1 billion.

Financial highlights

• Finance costs decreased by QAR 277 million to QAR 778 million, mainly due to lower borrowing rates and profit margins.

• Cash and bank balances increased to QAR 511 million from QAR 113 million.

• Total assets stood at QAR 45.6 billion, down from QAR 46.3 billion, mainly due to property disposals and revaluation losses.

• Net cash flows from operating activities were QAR 1.43 billion, up from QAR 1.36 billion.

• Operating expenses declined 2.8% year-over-year.

Outlook and guidance

• Management highlighted sensitivity of investment property valuations to changes in terminal growth rate, with even small adjustments having significant impact.

• Terminal growth rate used in property valuations decreased from 2.2% to 2.185%, reflecting market trends.

• Management assessed the Group as a going concern, with sufficient resources and positive net assets.