Emaar Properties (EMAAR) Q2 2025 earnings summary

Executive summary

• Achieved record H1 2025 results with strong growth in property sales, revenues, and profitability, supported by a robust backlog and expanding recurring operations.

• Revenue for the six months ended 30 June 2025 reached AED 19.83 billion, up from AED 14.41 billion year-over-year, with net profit rising to AED 8.88 billion from AED 6.83 billion.

• Maintains a diversified real estate portfolio across UAE and international markets, focusing on integrated master developments and iconic assets.

• Strategic priorities include expanding recurring revenue streams, timely project delivery, and maximizing shareholder returns.

• The group paid a cash dividend of AED 8.84 billion for 2024 and completed the acquisition of the remaining non-controlling interest in Dubai Hills Estate District Cooling LLC.

Financial highlights

• Group property sales reached AED 45.9Bn, up 46% year-over-year; revenue at AED 19.8Bn, up 38%.

• EBITDA grew 30% to AED 10.4Bn; net profit attributable to equity holders rose 33% to AED 7.1Bn; comprehensive income attributable to owners increased to AED 7.17Bn.

• Gross profit for the six months was AED 11.13Bn, up from AED 8.38Bn year-over-year; gross profit margin at 56%; EBITDA margin at 52%; net profit margin at 45%.

• Basic and diluted EPS for the six months was AED 0.80, compared to AED 0.60 in the prior year.

• Dividend yield at 6.5%, outperforming local benchmarks.

Outlook and guidance

• Revenue backlog from property sales stands at AED 146.3Bn, supporting future profitability.

• Over 55,000 residential units to be delivered between 2025-2029 in domestic and international markets.

• Focus on expanding recurring revenue portfolio, targeting a doubling of its contribution by 2030.

• Results for the period are not necessarily indicative of full-year performance due to the nature of interim reporting.

• No significant seasonality or cyclicality was observed in operations during the period.