Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	3.49B	2.89B	1.63B	1.46B	1.08B
Cost of Revenue	2.64B	2.25B	1.15B	1.10B	0.90B
Gross Profit	841.37M	635.84M	479.87M	362.19M	184.48M
SG&A	162.84M	142.55M	64.86M	60.83M	57.68M
Operating Expenses	212.47M	189.32M	-12.19M	61.72M	65.30M
Operating Income	628.91M	446.52M	492.06M	300.47M	119.18M
Interest Income	21.80M	4.48M	2.40M	6.93M	6.98M
Interest Expense	-90.52M	-114.02M	-121.46M	-73.92M	-46.28M
Other Income/Expense	—	—	—	6.09M	11.36M
Pretax Income	1.20B	1.37B	0.42B	0.42B	0.27B
Income Tax	51.71M	32.50M	—	—	—
Net Income	1.08B	1.33B	0.42B	0.42B	0.27B
EBITDA	931.45M	741.26M	741.29M	539.93M	377.77M
EBIT	628.91M	446.52M	492.06M	300.47M	119.18M
EPS (Basic)	0.09	0.11	0.03	0.03	0.02
EPS (Diluted)	0.09	0.11	0.03	0.03	0.02
DPS	0.03	0.05	0.02	0.02	0.02
Margins & Efficiency
Gross Margin %	+24.1%	+22.0%	+29.4%	+24.8%	+17.0%
EBITDA Margin %	+26.7%	+25.7%	+45.4%	+37.0%	+34.9%
Net Margin %	+31.1%	+46.0%	+25.9%	+28.5%	+25.2%
Revenue & Income
Revenue	3.49B	2.89B	1.63B	1.46B	1.08B
Revenue Growth (YoY)	+20.7%	+77.0%	+11.7%	+34.9%	+23.8%
Interest & Investment Income	21.80M	4.48M	2.40M	6.93M	6.98M
Earnings From Equity Investments	48.55M	961.96M	135.93M	151.20M	158.51M
Gain (Loss) on Sale of Assets	-8.56M	67.06M	12.90M	16.06M	12.53M
Gain (Loss) on Sale of Investments	15.57M	1.79M	1.73M	9.00M	10.42M
Expenses & Provisions
Cost of Revenue	2.64B	2.25B	1.15B	1.10B	0.90B
Selling, General & Admin	162.84M	142.55M	64.86M	60.83M	57.68M
Operating Expenses	212.47M	189.32M	-12.19M	61.72M	65.30M
Other Operating Expenses	5.68M	14.89M	-37.89M	—	—
Interest Expense	-90.52M	-114.02M	-121.46M	-73.92M	-46.28M
Other Non Operating Income (Expenses)	—	—	—	6.09M	11.36M
Asset Writedown	577.54M	—	—	—	—
Amortization of Goodwill & Intangibles	41.80M	30.67M	—	—	—
D&A For EBITDA	302.55M	294.74M	249.22M	239.46M	258.59M
Profitability & Returns
Gross Profit	841.37M	635.84M	479.87M	362.19M	184.48M
Gross Margin	+24.1%	+22.0%	+29.4%	+24.8%	+17.0%
EBIT	628.91M	446.52M	492.06M	300.47M	119.18M
EBIT Margin	+18.0%	+15.5%	+30.2%	+20.6%	+11.0%
EBITDA	931.45M	741.26M	741.29M	539.93M	377.77M
EBITDA Margin	+26.7%	+25.7%	+45.4%	+37.0%	+34.9%
EBT Excluding Unusual Items	0.61B	1.30B	0.51B	0.39B	0.25B
Pretax Income	1.20B	1.37B	0.42B	0.42B	0.27B
Operating Income	628.91M	446.52M	492.06M	300.47M	119.18M
Operating Margin	+18.0%	+15.5%	+30.2%	+20.6%	+11.0%
Profit Margin	+31.1%	+46.0%	+25.9%	+28.5%	+25.2%
Net Income	1.08B	1.33B	0.42B	0.42B	0.27B
Net Income to Common	1.08B	1.33B	0.42B	0.42B	0.27B
Net Income to Company	1.15B	1.34B	0.42B	0.42B	0.27B
Net Income Growth	-18.3%	+214.2%	+1.7%	+52.3%	—
Earnings From Continuing Ops.	1.15B	1.34B	0.42B	0.42B	0.27B
Minority Interest in Earnings	-61.74M	-8.19M	-0.10M	0.31M	—
Income Tax Expense	51.71M	32.50M	—	—	—
Effective Tax Rate	+4.3%	+2.4%	—	—	—
Per Share & Capital
EPS (Basic)	0.09	0.11	0.03	0.03	0.02
EPS (Diluted)	0.09	0.11	0.03	0.03	0.02
EPS Growth	-19.1%	+217.2%	+1.7%	+52.3%	—
Dividend Per Share	0.03	0.05	0.02	0.02	0.02
Shares Change (YoY)	0.01	-0.01	—	—	—
Shares Outstanding (Basic)	12.60B	12.48B	12.60B	12.60B	12.60B
Shares Outstanding (Diluted)	12.60B	12.48B	12.60B	12.60B	12.60B
Dividend Growth	-33.3%	+136.8%	+19.5%	—	+183.9%
Free Cash Flow	547.49M	403.49M	427.42M	240.02M	321.88M
Free Cash Flow Margin	+15.7%	+14.0%	+26.2%	+16.4%	+29.7%
Free Cash Flow Per Share	0.04	0.03	0.03	0.02	0.03
Payout Ratio	+52.3%	+18.1%	+47.3%	+48.1%	+25.7%
Supplemental
Other Unusual Items	4.29M	—	-101.03M	-40.00M	—

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	3.49B	2.89B	1.63B	1.46B	1.08B
Cost of Revenue	2.64B	2.25B	1.15B	1.10B	0.90B
Gross Profit	841.37M	635.84M	479.87M	362.19M	184.48M
SG&A	162.84M	142.55M	64.86M	60.83M	57.68M
Operating Expenses	212.47M	189.32M	-12.19M	61.72M	65.30M
Operating Income	628.91M	446.52M	492.06M	300.47M	119.18M
Interest Income	21.80M	4.48M	2.40M	6.93M	6.98M
Interest Expense	-90.52M	-114.02M	-121.46M	-73.92M	-46.28M
Other Income/Expense	—	—	—	6.09M	11.36M
Pretax Income	1.20B	1.37B	0.42B	0.42B	0.27B
Income Tax	51.71M	32.50M	—	—	—
Net Income	1.08B	1.33B	0.42B	0.42B	0.27B
EBITDA	931.45M	741.26M	741.29M	539.93M	377.77M
EBIT	628.91M	446.52M	492.06M	300.47M	119.18M
EPS (Basic)	0.09	0.11	0.03	0.03	0.02
EPS (Diluted)	0.09	0.11	0.03	0.03	0.02
DPS	0.03	0.05	0.02	0.02	0.02
Margins & Efficiency
Gross Margin %	+24.1%	+22.0%	+29.4%	+24.8%	+17.0%
EBITDA Margin %	+26.7%	+25.7%	+45.4%	+37.0%	+34.9%
Net Margin %	+31.1%	+46.0%	+25.9%	+28.5%	+25.2%
Revenue & Income
Revenue	3.49B	2.89B	1.63B	1.46B	1.08B
Revenue Growth (YoY)	+20.7%	+77.0%	+11.7%	+34.9%	+23.8%
Interest & Investment Income	21.80M	4.48M	2.40M	6.93M	6.98M
Earnings From Equity Investments	48.55M	961.96M	135.93M	151.20M	158.51M
Gain (Loss) on Sale of Assets	-8.56M	67.06M	12.90M	16.06M	12.53M
Gain (Loss) on Sale of Investments	15.57M	1.79M	1.73M	9.00M	10.42M
Expenses & Provisions
Cost of Revenue	2.64B	2.25B	1.15B	1.10B	0.90B
Selling, General & Admin	162.84M	142.55M	64.86M	60.83M	57.68M
Operating Expenses	212.47M	189.32M	-12.19M	61.72M	65.30M
Other Operating Expenses	5.68M	14.89M	-37.89M	—	—
Interest Expense	-90.52M	-114.02M	-121.46M	-73.92M	-46.28M
Other Non Operating Income (Expenses)	—	—	—	6.09M	11.36M
Asset Writedown	577.54M	—	—	—	—
Amortization of Goodwill & Intangibles	41.80M	30.67M	—	—	—
D&A For EBITDA	302.55M	294.74M	249.22M	239.46M	258.59M
Profitability & Returns
Gross Profit	841.37M	635.84M	479.87M	362.19M	184.48M
Gross Margin	+24.1%	+22.0%	+29.4%	+24.8%	+17.0%
EBIT	628.91M	446.52M	492.06M	300.47M	119.18M
EBIT Margin	+18.0%	+15.5%	+30.2%	+20.6%	+11.0%
EBITDA	931.45M	741.26M	741.29M	539.93M	377.77M
EBITDA Margin	+26.7%	+25.7%	+45.4%	+37.0%	+34.9%
EBT Excluding Unusual Items	0.61B	1.30B	0.51B	0.39B	0.25B
Pretax Income	1.20B	1.37B	0.42B	0.42B	0.27B
Operating Income	628.91M	446.52M	492.06M	300.47M	119.18M
Operating Margin	+18.0%	+15.5%	+30.2%	+20.6%	+11.0%
Profit Margin	+31.1%	+46.0%	+25.9%	+28.5%	+25.2%
Net Income	1.08B	1.33B	0.42B	0.42B	0.27B
Net Income to Common	1.08B	1.33B	0.42B	0.42B	0.27B
Net Income to Company	1.15B	1.34B	0.42B	0.42B	0.27B
Net Income Growth	-18.3%	+214.2%	+1.7%	+52.3%	—
Earnings From Continuing Ops.	1.15B	1.34B	0.42B	0.42B	0.27B
Minority Interest in Earnings	-61.74M	-8.19M	-0.10M	0.31M	—
Income Tax Expense	51.71M	32.50M	—	—	—
Effective Tax Rate	+4.3%	+2.4%	—	—	—
Per Share & Capital
EPS (Basic)	0.09	0.11	0.03	0.03	0.02
EPS (Diluted)	0.09	0.11	0.03	0.03	0.02
EPS Growth	-19.1%	+217.2%	+1.7%	+52.3%	—
Dividend Per Share	0.03	0.05	0.02	0.02	0.02
Shares Change (YoY)	0.01	-0.01	—	—	—
Shares Outstanding (Basic)	12.60B	12.48B	12.60B	12.60B	12.60B
Shares Outstanding (Diluted)	12.60B	12.48B	12.60B	12.60B	12.60B
Dividend Growth	-33.3%	+136.8%	+19.5%	—	+183.9%
Free Cash Flow	547.49M	403.49M	427.42M	240.02M	321.88M
Free Cash Flow Margin	+15.7%	+14.0%	+26.2%	+16.4%	+29.7%
Free Cash Flow Per Share	0.04	0.03	0.03	0.02	0.03
Payout Ratio	+52.3%	+18.1%	+47.3%	+48.1%	+25.7%
Supplemental
Other Unusual Items	4.29M	—	-101.03M	-40.00M	—

Financials

Annual (AED)

Abu Dhabi National Hotels

Annual (AED)