The Emirates Group announced today that it has achieved its best financial result for a half year. The Group obtained net profit of AED 10,1 billion (US＄ 2,7 billion) in the first half of fiscal year 2023-24, suring by 138% its previous record of AED 4,2 billion (US＄ 1,2 billion) in the same period of the year past.
The Group also announced EBITDA of AED 20,6 billion (US＄ 5,6 billion), a significant improvement over the values recorded in the same period last year of AED 15,3 billion (US＄ 4,2 billion), showing its strong operational profitability.
A revenue of the Group was AED 67,3 billion (US＄ 18,3 billion) in the first six months of fiscal year 2023-24, a 20% increase on revenue of AED 56,3 billion (US＄ 15,3 billion) last year. This increase is a result of strong demand for air transport around the world, which has been on the rise since the removal of pandemic-related travel restrictions.
The Group ended the first half of the 2023-24 fiscal year with a strong box position of AED 42,7 billion (US＄ 11,6 billion) as of September 30, 2023, compared to a cash position of AED 42,5 billion (US＄ 11,6 billion) as of March 31, 2023. Group used its strong cash reserves to meet business needs, including debt payments. To date, Emirates has repaid AED 9,2 billion of its loans related to the COVID-19 pandemic. The Group also paid AED 4,5 billion in dividends to its owner, as declared at the end of its 2022-23 fiscal year.
To increased operations and commercial activities, the Emirates Group's employee base, compared to March 31, 2023, grew by 6% and reached 108.996 employees worldwide as of September 30, 2023. Both Emirates and dnata maintains ongoing recruitment initiatives to your future needs.
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Street: Emirates
