TECOM Group (TECOM) Q3 2025 earnings summary

Executive summary

• Achieved strong financial and operational performance in Q3 and 9M 2025, with double-digit growth in revenue, EBITDA, and net profit year-over-year.

• Revenue for the nine-month period ended 30 September 2025 was AED 2,113 million, up from AED 1,759 million year-over-year.

• Net profit for the period reached AED 1,111 million, compared to AED 943 million for the same period last year.

• Maintained high occupancy rates across commercial, industrial, and land leasing segments, supported by robust market demand.

• Expanded portfolio through strategic acquisitions, notably 33 million sq.ft of industrial land, enhancing long-term revenue predictability.

Financial highlights

• Revenue reached AED 2,113 million, up 20% vs. 9M 2024; EBITDA at AED 1,671 million, up 20% YoY with a 79% margin.

• Net profit rose 18% YoY to AED 1,111 million; Funds From Operations (FFO) increased 16% to AED 1,467 million.

• Gross profit increased to AED 1,402 million from AED 1,150 million year-over-year.

• Operating profit rose to AED 1,309 million from AED 1,079 million year-over-year.

• Recurring free cash flow for 9M 2025 was AED 1,235 million, up from AED 1,189 million in 9M 2024.

Outlook and guidance

• Revenue growth guidance for 2025 set at 15-17% YoY; EBITDA expansion targeted at 18-20% YoY.

• Board proposes a 10% increase in H2 2025 dividend, reflecting confidence in future cash flows.

• The group expects to recognize AED 46.7 million in revenue from unsatisfied performance obligations over the next two years.

• Management anticipates adoption of new IFRS standards in 2026 and 2027, with no material impact except for IFRS 18.

• Positive outlook for commercial and industrial real estate markets, supported by macroeconomic growth and sectoral demand.