Emaar Properties (EMAAR) Q4 2025 earnings summary

Executive summary

• Achieved record FY 2025 with highest ever sales, revenue, and profitability, driven by robust UAE property sales, expanding recurring revenue streams, and strong growth across all business segments and geographies.

• Maintained strong market leadership in UAE real estate, significant international presence, and diversified business segments.

• Strategic focus on quality, customer experience, sustainability, shareholder returns, and ESG leadership, with upgraded credit and ESG ratings.

• Maintained high customer engagement through major events and community experiences.

Financial highlights

• FY 2025 revenue reached AED 49.6 billion, up 40% year-over-year; net profit attributable to equity holders was AED 17.6 billion, up 30%; net profit before tax up 36% to AED 25.7 billion.

• EBITDA grew 33% to AED 25.6 billion; gross profit margin at 55%; net profit margin at 45%.

• Property sales up 16% year-over-year to AED 80.4 billion; UAE property sales hit AED 71.1 billion (+9% YoY); international sales at AED 9.3 billion (+124% YoY).

• Dividend yield at 6.3%, outperforming local benchmarks; EPS up 30% to AED 1.99.

• Cash and cash equivalents rose 36% to AED 52.6 billion; net cash position improved 53% to AED 61.7 billion.

Outlook and guidance

• Revenue backlog from property sales at AED 155 billion, providing strong visibility for future performance.

• Over 64,300 residential units to be delivered in the next 5-6 years across domestic and international markets.

• Focus on expanding recurring revenue streams, with major retail and hospitality projects in the pipeline, including Dubai Square and Dubai Mall expansion.

• Board recommended maintaining dividends at 100% of share capital for 2025.

• Stable credit outlooks from S&P (BBB+) and Moody's (Baa1) reinforce financial strength.