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  • Chidozie Uzoezie

Emirates Group Announces Record Half-Year Performance


The Emirates Group today announced its half-year results for its 2022-23 financial year.


The Group is reporting a 2022-23 half-year net profit of AED 4.2 billion (US$ 1.2 billion), a record half-year performance, and a turnaround of almost AED 10 billion from its AED 5.7 billion (US$ 1.6 billion) loss for the same period last year.


The Group also reported an EBITDA of AED 15.3 billion (US$ 4.2 billion), a marked improvement from AED 5.6 billion (US$ 1.5 billion) during the same period last year, illustrating its strong operating profitability.


Group revenue was AED 56.3 billion (US$ 15.3 billion) for the first six months of 2022-23, up 128% from AED 24.7 billion (US$ 6.7 billion) last year. This was driven by the strong demand for air transport across the world with the further easing and removal of pandemic-related travel restrictions. 


The Group closed the 1st half year of 2022-23 with a strong cash position of AED 32.6 billion (US$ 8.9 billion) on 30 September 2022, compared to AED 25.8 billion (US$ 7.0 billion), as on 31 March 2022. 


The Group has been able to tap on its own strong cash reserves to support business needs, including debt payments and pandemic-related commitments.


Download the full results here.

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