Emirates REIT (REIT) Q1 2024 TU earnings summary
Event summary combining transcript, slides, and related documents.
Q1 2024 TU earnings summary
13 Jun, 2025Executive summary
Net Asset Value rose 38% year-over-year to USD 525m, with NAV per share at USD 1.64.
Total Assets increased 17% year-over-year to USD 1.073bn.
Financial highlights
Total Property Income grew 15% year-over-year to USD 19.7m in Q1 2024.
Net Property Income increased 17% to USD 16.6m compared to Q1 2023.
Operating Profit rose 22% to USD 12.3m year-over-year.
Net Profit reached USD 24.8m, up from USD 7.6m in Q1 2023.
Revaluation gain of USD 25.9m in Q1 2024, up from USD 10.3m in Q1 2023.
Key financial ratios and metrics
FFO improved to negative USD 1.1m from negative USD 2.7m in Q1 2023.
Financing facilities FTV ratio reduced to 41%, down from 48% in Q1 2023.
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