Aldar Properties (ALDAR) investor relations material

Executive summary

• Revenue reached AED 16.8 billion in H1 2026, up 8% year-over-year, with EBITDA up 19% to AED 6.3 billion and net profit after tax rising 18% to AED 4.9 billion, supported by a sizable backlog, disciplined execution, and recurring income.

• Earnings per share increased 17% to AED 0.53.

• Group sales declined 34% year-over-year to AED 12.1 billion, with UAE sales at AED 9.4 billion and a backlog of AED 71.6 billion.

• Maintained robust liquidity of AED 37.1 billion, including AED 16.8 billion in cash and AED 20.3 billion undrawn facilities.

• Major asset acquisitions, joint ventures, and new project launches in the UAE, Egypt, and UK diversified the portfolio.

Financial highlights

• Gross profit for H1 2026 was AED 6.2 billion (+17% YoY); adjusted EBITDA margin improved to 34%.

• Aldar Development revenue increased 10% YoY to AED 12.4 billion; EBITDA rose 21% to AED 4.0 billion.

• Aldar Investment revenue grew 12% YoY to AED 4.2 billion; adjusted EBITDA up 18% to AED 1.8 billion; AUM reached AED 56 billion.

• Cash collections totaled AED 7.6 billion; default rates remained low at 1.3%-2%.

• Basic and diluted EPS for the period was AED 0.529.

Outlook and guidance

• Full-year 2026 group development sales guidance revised to AED 30-34 billion from AED 45-49 billion, reflecting launch timing and measured demand.

• Aldar Development EBITDA guidance revised to AED 8.9-9.3 billion from AED 9.5-10 billion; group adjusted EBITDA guidance revised to AED 12.3-12.7 billion.

• Aldar Investment adjusted EBITDA guidance unchanged at AED 3.7-3.9 billion.

• Management remains confident in operational resilience despite regional geopolitical tensions.

• Updated medium-term guidance to be provided with FY 2026 results.