Aldar Properties PJSC (ADX:ALDAR)
د.إ 5.74 0 (0%) Market Cap: 45.13 Bil Enterprise Value: 54.95 Bil PE Ratio: 10.34 PB Ratio: 1.39 GF Score: 74/100
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Q1 2024 Aldar Properties PJSC Earnings Call Transcript

Apr 29, 2024 / 11:00AM GMT
Release Date Price: د.إ5.36 (+4.08%)
Operator

Hello, and welcome to the Aldar Properties Q1 2024 Financial Results Conference Call. My name is Drew, and I'll be the operator on today's call. (Operator Instructions)

At this time, I would like to turn the conference over to Mr. Faisal Falaknaz, Group Chief Financial and Sustainability Officer. Please go ahead when you're ready.

Faisal Falaknaz
Aldar Properties PJSC - Group Chief Financial & Sustainability Officer

Good afternoon, everybody. Thank you all for joining us on this call to discuss Aldar's financial performance for Q1 2024. We generated strong momentum coming into 2024 and the effective implementation of our strategy for accelerated growth is reflected in the headline numbers for the quarter. Aldar's revenue was up 83% year-on-year to AED 5.6 billion, while EBITDA increased 90% to AED 1.8 billion over the same period.

Net profit increased 88% year-on-year to AED 1.6 billion in the context of robust macroeconomic fundamentals and consumer confidence in the UAE. Please note while the UAE introducing corporate income tax on

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