HomeNotíciasGeralEmirates Group announces half-year performance for 2017-18

Emirates Group announces half-year performance for 2017-18

(Principal)

 

  • Group: Revenue up 6% to AED 49.4 billion (US$ 13.5 billion), and profit of AED 2.3 billion (US$ 631 million), up 77%. Results due to capacity optimisation and efficiency initiatives, easing of strong US dollar, and steady business growth.
  • Emirates: Revenue up 6% to AED 44.5 billion (US$ 12.1 billion), and profit lift of 111% to AED 1.7 billion (US$ 452 million). 29.2 million passengers carried, up 4%, on overall capacity expansion of 2%.
  • dnata: Revenue up 7% to AED 6.3 billion (US$ 1.7 billion), profit up 20% to AED 659 million (US$ 180 million). 330,317 aircraft handled, up 11%, 1.5 million tonnes of cargo handled, up 25%.

 

 

DUBAI, E.A.U. – 13 de novembro de 2017: The Emirates Group today announced its half-year results for 2017-18. The Group saw steady revenue growth and a rebound on profitability compared to the same period last year, in spite of the continuing downward pressure on margins, a rise in oil prices, and other challenges for the airline and travel industry. 

 

The Emirates Group revenue was AED 49.4 billion (US$ 13.5 billion) for the first six months of its 2017-18 financial year, up 6% from AED 46.5 billion (US$ 12.7 billion) during the same period last year.

 

Profitability rebounded after a low during the same period last year, with the Group reporting a 2017-18 half-year net profit of AED 2.3 billion (US$ 631 million), up 77%.  This result was driven by capacity optimisation and efficiency initiatives across the company, steady business growth, and a more favourable foreign exchange situation compared to the same period last year.

 

The Group’s cash position on 30th September 2017 was at AED 18.9 billion (US$ 5.2 billion), compared to AED 19.1 billion (US$ 5.2 billion) as at 31st March 2017.

 

His Highness (HH) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group said: “A lot of the credit for our 2017-18 half-year results goes to our talented workforce who have worked hard to improve our business performance, and address our challenges without compromising on quality and service.

 

dnata

 

dnata saw steady growth across its global businesses which now span 84 countries. In the first half of 2017-18, dnata’s international operations accounted for over 67% of its total revenue.

 

dnata’s revenue, including other operating income, is AED 6.3 billion (US$ 1.7 billion), a 7% increase compared to AED 5.9 billion (US$ 1.6 billion) last year.  This performance was underpinned by robust organic business growth, particularly in its international airport operations business with its previous cargo and ground handling acquisitions contributing to the 2017-18 half year performance.

 

Overall profit for dnata is up by 20% to AED 659 million (US$ 180 million). This was driven by dnata’s continued focus on extracting operational, process and cost efficiencies across all business streams, and supported by strong performances from both its international and UAE airport operations divisions, with new customers won and the expansion of existing contracts.

 

 

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