Emirates Group records semi-annual record results

The Emirates Group today announced its results for the first six months of its current fiscal year 2022-2023.

In the first half of the current fiscal year, the Emirates Group recorded a record net profit of 4.2 billion dirhams, achieving a transformation of about 10 billion dirhams from losses of 5.7 billion dirhams in the same period last year.

The group also achieved an operating profit before interest, taxes, depreciation and amortization EBITDA of 15.3 billion dirhams ($ 4.2 billion), in a huge shift from profits of 5.6 billion dirhams (1.5 billion dollars) during the same period last year, which is an indication of strong operating profitability.

The group’s revenues amounted to 56.3 billion dirhams for the first six months of the fiscal year 2022/2023, a growth of 128 percent, compared to 24.7 billion dirhams ($6.7 billion) in the previous year.

This growth has resulted from strong demand for air transport around the world with further easing and removal of travel restrictions related to the pandemic.

The group ended the first half of the fiscal year 2022/2023 with a strong cash position, as its balances amounted to 32.6 billion dirhams on September 30, 2022, compared to 25.8 billion dirhams ($ 7.0 billion), as on March 31, 2022. The group was able to benefit from its strong cash reserves to support Business requirements, including debt payments and pandemic-related obligations.

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