Emaar Development (EMAARDEV) investor relations material

Executive summary

• Net profit for H1 2026 rose 26% year-over-year to AED 11.15 billion, with revenue up 21% to AED 23.91 billion, driven by robust property sales, resilient leasing, and recurring income streams.

• EBITDA increased 24% to AED 12.9 billion, reflecting operational discipline and portfolio strength.

• Maintains a diversified business model across UAE and international development, malls, hospitality, and entertainment, with a strong focus on sustainability and innovation.

• Strategic investments, disciplined execution, and a strong balance sheet underpin sustainable growth and shareholder returns.

• Robust liquidity with AED 51.4 billion in cash and cash equivalents at period end.

Financial highlights

• H1 2026 property sales reached AED 26.6 billion, up 42% year-over-year; UAE property sales at AED 22.4 billion, up 45%.

• EBITDA rose 24% to AED 12.9 billion; gross profit margin stable at 56%.

• Net cash position of AED 64.1 billion and total assets of AED 193 billion as of June 2026.

• Revenue backlog at AED 164.9 billion, providing strong visibility for future earnings.

• Earnings per share for H1 2026 were AED 0.98, up 22% year-over-year.

Outlook and guidance

• Targeting a twofold increase in recurring EBITDA by 2030, supported by a robust development pipeline and expansion of recurring revenue assets.

• Announced AED 200 billion landmark masterplan, further strengthening long-term growth prospects.

• Management expects continued resilience in core GCC real estate and leasing operations, supported by a strong backlog and high occupancy.

• Dividend policy linked to cash generation, with a 2025 payout of AED 8.84 billion and a yield of ~9%.