The Emirates Group right this moment introduced its best-ever half-year monetary efficiency, posting a revenue earlier than tax of AED10.4 billion (US$ 2.8 billion) for the primary six months of 2024-25, surpassing its document revenue earlier than tax for a similar interval final 12 months.
That is the primary monetary 12 months that the UAE company earnings tax, enacted in 2023, is utilized to the Emirates Group. After accounting for the 9% tax cost, the Group’s revenue after tax is AED9.3 billion (US$2.5 billion).
Demonstrating its sturdy working profitability, the Group maintained a sturdy EBITDA of AED20.4 billion (US$5.6 billion), barely decrease from AED20.6 billion (US$5.6 billion) final 12 months.
Group income was AED70.8 billion (US$ 19.3 billion) for the primary six months of 2024-25, up 5% from AED67.3 billion (US$ 18.3 billion) final 12 months. This displays the constantly sturdy buyer demand throughout enterprise divisions, and throughout areas.
The Group closed the primary half 12 months of 2024-25 with a strong money place of AED43.7 billion (US$ 11.9 billion) on 30 September 2024, in comparison with AED47.1 billion (US$ 12.8 billion) on thirty first March 2024.
The Group has been in a position to faucet by itself sturdy money reserves to assist enterprise wants, together with funds for brand new freighter plane orders and different debt funds. The Group additionally paid AED2 billion in dividend to its proprietor, as declared on the finish of its 2023-24 monetary 12 months.
H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Government, Emirates Airline and Group, stated, “The Group has surpassed its document efficiency of final 12 months to ship a implausible end result for the primary half of 2024-25. This once more illustrates the ability of our confirmed enterprise mannequin working together with Dubai’s progress trajectory as a metropolis of option to reside, work, go to, join by, and do enterprise in.
The Group’s sturdy profitability allows us to make the investments obligatory for our continued success. We’re investing billions of {dollars} to convey new services and products to the marketplace for our prospects; to implement superior applied sciences and different innovation tasks to drive progress; and to take care of our staff who work onerous day by day to make sure our prospects’ security and satisfaction.”
Sheikh Ahmed added, “We anticipate buyer demand to stay sturdy for the remainder of 2024-25, and we look ahead to growing our capability to develop revenues as new plane be a part of the Emirates fleet and new amenities come on-line at dnata. The outlook is optimistic, however we don’t intend to relaxation on our laurels. We’ll keep agile in deploying our capability and assets in a dynamic market.”
To assist elevated operations and enterprise actions, the Emirates Group’s worker base, in comparison with thirty first March 2024, grew 3% to an general rely of 114,610 on 30 September 2024. Each Emirates and dnata have ongoing recruitment drives to assist their future necessities.
Emirates continued to reinforce its community and enhance connectivity choices by its Dubai hub. In the course of the first half of 2024-25, Emirates elevated scheduled flights to eight cities: Amsterdam, Cebu, Clark, Luanda, Lyon, Madrid, Manila and Singapore.
In Might, Emirates restarted every day providers to Phnom Penh in Cambodia by way of Singapore. In June, it launched every day providers to Bogotá by way of Miami, increasing the airline’s South American presence to Colombia. In September, Emirates opened a brand new path to Madagascar by way of the Seychelles – taking its passenger and cargo community to 148 airports in 80 nations by thirtieth September.
Increasing connectivity choices for patrons, through the first six months of 2024-25, Emirates entered into new agreements with 7 codeshare, interline, and intermodal companions: AirPeace, Avianca, BLADE, ITA Airways, Iceland Air, SNCF Railway, and Viva Aerobus.
Between 1st April and thirtieth September, 8 plane (3 A380s, 5 Boeing 777s) with absolutely refreshed interiors rolled out of the airline’s US$ 4 billion retrofit programme. This enabled Emirates to speed up the deployment of its newest cabin merchandise, together with its newest 4-class Boeing 777 that function a brand new 1-2-1 format of lie-flat seats with private minibars in Enterprise Class, and the favored Emirates Premium Economic system.
The primary retrofitted Emirates 777 was deployed to Geneva in August, adopted by Tokyo Haneda and Brussels. For the following six months, as extra plane are retrofitted, Emirates has lined up 10 extra routes for its refurbished 777s: Riyadh, Zurich, Kuwait, Damman, Chicago, Boston, Dallas Fort Value, Seattle, Newark-Athens and Miami-Bogota.
By 12 months finish, Emirates’ newest A380 and Boeing 777 inflight experiences together with Premium Economic system, will likely be out there to prospects on over 30 routes.
On floor, AED44 million was invested to open new signature Emirates Lounges for premium prospects in London Stansted and Jeddah airports, and refurbish the prevailing facility at Paris Charles De Gaulle. That is a part of an ongoing multi-million greenback programme to reinforce its community of owned Emirates Lounges. In July, Emirates opened a brand new idea journey retailer in Hong Kong, its first exterior of the UAE, and it plans to launch extra experiential shops round its community as a part of its retail technique.
Emirates continued to progress on its environmental initiatives, uplifting sustainable aviation gas (SAF) the place out there and possible. In the course of the first six months of 2024-25, Emirates uplifted SAF for the primary time in Singapore and London Heathrow.
Emirates joined the Aviation Initiative for Renewable Vitality (aireg) in Germany; and signed up as trade associate of the Aviation Influence Accelerator (AIA) on the College of Cambridge, contributing to the analysis and improvement of emissions discount pathways. The AIA partnership additionally marked Emirates’ first disbursement from its US$ 200 million fund, particularly put aside to assist R&D to advance sustainability options for aviation.
Within the first half of 2024-25, Emirates boosted investments in its international model visibility notably signing a big new sponsorship deal to be Official Airline Accomplice of The Championships – Wimbledon. Emirates additionally prolonged its longstanding partnerships with the Worldwide Cricket Council (ICC) for an extra 8 years, and with Portugal’s SL Benfica soccer membership for one more 5 years.
General capability through the first six months of the 12 months elevated by 5% to 29.9 billion Out there Tonne Kilometres (ATKM) attributable to expanded flight operations. Capability measured in Out there Seat Kilometres (ASKM), elevated by 4%, while passenger site visitors carried measured in Income Passenger Kilometres (RPKM) was up by 2% with a median Passenger Seat Issue of 80.0%, in contrast with 81.5% throughout the identical interval final 12 months. Emirates carried 26.9 million passengers between 1 April and 30 September 2024, up 3% from the identical interval final 12 months.
Emirates SkyCargo transported 1,198,000 tonnes within the first six months of the 12 months, up 16% in comparison with the identical interval final 12 months, with notable quantity contributions from sturdy Chinese language eCommerce site visitors, and an increase in shipments sure for Dubai.
Emirates SkyCargo was in a position to meet demand with added capability from 1 new Boeing 777 freighter delivered, and a couple of extra wet-leased Boeing 747Fs. In the course of the first six months of 2024-25, Emirates positioned orders for 10 extra Boeing 777 freighters to assist its progress.
Robust buyer demand for Emirates SkyCargo’s specialised merchandise and glorious community of freighter and bellyhold cargo operations noticed cargo yields enhance by 11%.
Emirates revenue earlier than tax for the primary half of 2024-25 hit a brand new document of AED9.7 billion (US$ 2.6 billion), in comparison with AED9.5 billion (US$ 2.6 billion) for a similar interval final 12 months. Emirates revenue after tax is AED8.7 billion (US$ 2.4 billion).
Emirates income, together with different working earnings, of AED62.2 billion (US$ 16.9 billion) was up 5% in contrast with AED59.5 billion (US$ 16.2 billion) for a similar interval final 12 months. The airline’s new document income could be attributed to constantly sturdy journey and air cargo demand throughout markets, and its skill to supply prospects nice worth and providers.
Emirates’ direct working prices (together with gas) grew by 6% in step with elevated operations. Gas stays the most important part of the airline’s working value (32%), in comparison with 34% in the identical interval final 12 months.
Pushed by buyer demand and elevated operations through the six months, Emirates’ EBITDA of AED19.1 billion (US$ 5.2 billion) remained very sturdy, though barely down by 2% in comparison with AED19.5 billion (US$ 5.3 billion) for a similar interval final 12 months.
Within the first half of 2024-25, dnata’s airport providers and catering and retail divisions received a number of important new contracts, and grew present prospects throughout its worldwide operations.
dnata’s income, together with different working earnings, of AED10.4 billion (US$ 2.8 billion) elevated by 11% in comparison with AED9.3 billion (US$ 2.5 billion) generated in the identical interval final 12 months.
General revenue earlier than tax for dnata is AED720 million (US$ 196 million), down by 5% from the identical interval final 12 months, primarily attributable to a one-off impairment cost of AED152 million. dnata’s revenue after tax is AED571 million (US$ 156 million).
Illustrating its working profitability, dnata’s EBITDA was AED1.3 billion (US$ 354 million), up 16% from final 12 months’s AED1.1 billion (US$ 305 million).