Emaar Properties (EMAAR) Q4 2024 earnings summary

Executive summary

• Achieved record property sales, revenues, and profitability in 2024, with strong growth across all business segments.

• Proposed a 100% dividend of share capital, exceeding AED 8.8 Bn for 2024.

• Maintained investment-grade credit ratings and robust liquidity, with net cash of AED 40.4 Bn.

• Upgraded ESG rating and advanced sustainability initiatives, including LEED Platinum certification for Burj Khalifa.

Financial highlights

• Group property sales reached AED 69.5 Bn, up 72% year-over-year; UAE property sales at AED 65.4 Bn, up 75%.

• Consolidated revenue rose 33% to AED 35.5 Bn; EBITDA increased 12% to AED 19.3 Bn.

• Net profit attributable to equity holders was AED 13.5 Bn, up 36% year-over-year.

• Revenue backlog from property sales exceeded AED 110 Bn, supporting future growth.

• Cash balance at year-end was AED 50.1 Bn, with debt reduced by 21% to AED 9.7 Bn.

Outlook and guidance

• Focus on maintaining market leadership, execution, and maximizing shareholder returns.

• Strategic expansion of recurring revenue streams, including retail and hospitality.

• Continued investment in sustainability and digital transformation.