Gulf Navigation

Gulf Navigation Holding (P . J . S . C)

GULFNAVStocksDubai Financial MarketTransportation

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operating Summary
Revenue	88.69M	105.53M	137.23M	119.35M	142.64M
Cost of Revenue	97.84M	95.92M	116.75M	98.02M	143.16M
Gross Profit	-9.15M	9.61M	20.48M	21.32M	-0.52M
SG&A	22.02M	25.27M	12.89M	13.89M	16.19M
Operating Expenses	22.04M	26.56M	13.48M	17.80M	17.43M
Operating Income	-31.18M	-16.95M	7.00M	3.52M	-17.95M
Interest Income	7.47M	2.67M	—	—	—
Interest Expense	-20.20M	-21.91M	-32.45M	-40.05M	-44.76M
Other Income/Expense	-0.38M	15.34M	-0.11M	2.90M	-1.86M
Pretax Income	-22.05M	21.28M	-5.79M	58.72M	-282.78M
Income Tax	-1.97M	—	1.83M	1.83M	1.83M
Net Income	-20.08M	21.28M	-7.43M	58.12M	-284.46M
EBITDA	13.94M	19.78M	48.28M	43.18M	28.16M
EBIT	-31.18M	-16.95M	7.00M	3.52M	-17.95M
EPS (Basic)	-0.02	0.02	-0.01	0.11	-0.56
EPS (Diluted)	-0.02	0.02	-0.01	0.11	-0.56
Margins & Efficiency
Gross Margin %	-10.3%	+9.1%	+14.9%	+17.9%	-0.4%
EBITDA Margin %	+15.7%	+18.7%	+35.2%	+36.2%	+19.7%
Net Margin %	-22.6%	+20.2%	-5.4%	+48.7%	-199.4%
Revenue & Income
Revenue	88.69M	105.53M	137.23M	119.35M	142.64M
Revenue Growth (YoY)	-16.0%	-23.1%	+15.0%	-16.3%	-14.2%
Interest & Investment Income	7.47M	2.67M	—	—	—
Gain (Loss) on Sale of Assets	—	24.83M	—	—	-9.61M
Gain (Loss) on Sale of Investments	-7.66M	-2.01M	—	—	—
Currency Exchange Gain (Loss)	-344.00K	-171.00K	63.00K	-69.00K	-332.00K
Expenses & Provisions
Cost of Revenue	97.84M	95.92M	116.75M	98.02M	143.16M
Selling, General & Admin	22.02M	25.27M	12.89M	13.89M	16.19M
Operating Expenses	22.04M	26.56M	13.48M	17.80M	17.43M
Other Operating Expenses	—	—	—	713.00K	-185.00K
Interest Expense	-20.20M	-21.91M	-32.45M	-40.05M	-44.76M
Other Non Operating Income (Expenses)	-0.38M	15.34M	-0.11M	2.90M	-1.86M
Asset Writedown	-1.83M	—	—	—	-210.19M
D&A For EBITDA	45.12M	36.73M	41.28M	39.66M	46.11M
Profitability & Returns
Gross Profit	-9.15M	9.61M	20.48M	21.32M	-0.52M
Gross Margin	-10.3%	+9.1%	+14.9%	+17.9%	-0.4%
EBIT	-31.18M	-16.95M	7.00M	3.52M	-17.95M
EBIT Margin	-35.2%	-16.1%	+5.1%	+2.9%	-12.6%
EBITDA	13.94M	19.78M	48.28M	43.18M	28.16M
EBITDA Margin	+15.7%	+18.7%	+35.2%	+36.2%	+19.7%
EBT Excluding Unusual Items	-44.64M	-21.02M	-25.49M	-33.70M	-64.90M
Pretax Income	-22.05M	21.28M	-5.79M	58.72M	-282.78M
Operating Income	-31.18M	-16.95M	7.00M	3.52M	-17.95M
Operating Margin	-35.2%	-16.1%	+5.1%	+2.9%	-12.6%
Profit Margin	-22.6%	+20.2%	-5.4%	+48.7%	-199.4%
Net Income	-20.08M	21.28M	-7.43M	58.12M	-284.46M
Net Income to Common	-20.08M	21.28M	-7.43M	58.12M	-284.46M
Earnings From Continuing Ops.	-20.08M	21.28M	-7.62M	56.89M	-284.61M
Minority Interest in Earnings	—	—	0.19M	1.23M	0.14M
Income Tax Expense	-1.97M	—	1.83M	1.83M	1.83M
Effective Tax Rate	—	—	—	+3.1%	—
Per Share & Capital
EPS (Basic)	-0.02	0.02	-0.01	0.11	-0.56
EPS (Diluted)	-0.02	0.02	-0.01	0.11	-0.56
Shares Change (YoY)	-0.12	0.45	0.25	—	—
Shares Outstanding (Basic)	812.45M	925.48M	637.70M	509.60M	509.60M
Shares Outstanding (Diluted)	812.45M	925.48M	637.70M	509.60M	509.60M
Free Cash Flow	-59.32M	-46.78M	10.93M	126.71M	29.34M
Free Cash Flow Margin	-66.9%	-44.3%	+8.0%	+106.2%	+20.6%
Free Cash Flow Per Share	-0.07	-0.05	0.02	0.25	0.06
Supplemental
Other Unusual Items	-5.70M	19.47M	19.71M	6.66M	1.93M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operating Summary
Revenue	88.69M	105.53M	137.23M	119.35M	142.64M
Cost of Revenue	97.84M	95.92M	116.75M	98.02M	143.16M
Gross Profit	-9.15M	9.61M	20.48M	21.32M	-0.52M
SG&A	22.02M	25.27M	12.89M	13.89M	16.19M
Operating Expenses	22.04M	26.56M	13.48M	17.80M	17.43M
Operating Income	-31.18M	-16.95M	7.00M	3.52M	-17.95M
Interest Income	7.47M	2.67M	—	—	—
Interest Expense	-20.20M	-21.91M	-32.45M	-40.05M	-44.76M
Other Income/Expense	-0.38M	15.34M	-0.11M	2.90M	-1.86M
Pretax Income	-22.05M	21.28M	-5.79M	58.72M	-282.78M
Income Tax	-1.97M	—	1.83M	1.83M	1.83M
Net Income	-20.08M	21.28M	-7.43M	58.12M	-284.46M
EBITDA	13.94M	19.78M	48.28M	43.18M	28.16M
EBIT	-31.18M	-16.95M	7.00M	3.52M	-17.95M
EPS (Basic)	-0.02	0.02	-0.01	0.11	-0.56
EPS (Diluted)	-0.02	0.02	-0.01	0.11	-0.56
Margins & Efficiency
Gross Margin %	-10.3%	+9.1%	+14.9%	+17.9%	-0.4%
EBITDA Margin %	+15.7%	+18.7%	+35.2%	+36.2%	+19.7%
Net Margin %	-22.6%	+20.2%	-5.4%	+48.7%	-199.4%
Revenue & Income
Revenue	88.69M	105.53M	137.23M	119.35M	142.64M
Revenue Growth (YoY)	-16.0%	-23.1%	+15.0%	-16.3%	-14.2%
Interest & Investment Income	7.47M	2.67M	—	—	—
Gain (Loss) on Sale of Assets	—	24.83M	—	—	-9.61M
Gain (Loss) on Sale of Investments	-7.66M	-2.01M	—	—	—
Currency Exchange Gain (Loss)	-344.00K	-171.00K	63.00K	-69.00K	-332.00K
Expenses & Provisions
Cost of Revenue	97.84M	95.92M	116.75M	98.02M	143.16M
Selling, General & Admin	22.02M	25.27M	12.89M	13.89M	16.19M
Operating Expenses	22.04M	26.56M	13.48M	17.80M	17.43M
Other Operating Expenses	—	—	—	713.00K	-185.00K
Interest Expense	-20.20M	-21.91M	-32.45M	-40.05M	-44.76M
Other Non Operating Income (Expenses)	-0.38M	15.34M	-0.11M	2.90M	-1.86M
Asset Writedown	-1.83M	—	—	—	-210.19M
D&A For EBITDA	45.12M	36.73M	41.28M	39.66M	46.11M
Profitability & Returns
Gross Profit	-9.15M	9.61M	20.48M	21.32M	-0.52M
Gross Margin	-10.3%	+9.1%	+14.9%	+17.9%	-0.4%
EBIT	-31.18M	-16.95M	7.00M	3.52M	-17.95M
EBIT Margin	-35.2%	-16.1%	+5.1%	+2.9%	-12.6%
EBITDA	13.94M	19.78M	48.28M	43.18M	28.16M
EBITDA Margin	+15.7%	+18.7%	+35.2%	+36.2%	+19.7%
EBT Excluding Unusual Items	-44.64M	-21.02M	-25.49M	-33.70M	-64.90M
Pretax Income	-22.05M	21.28M	-5.79M	58.72M	-282.78M
Operating Income	-31.18M	-16.95M	7.00M	3.52M	-17.95M
Operating Margin	-35.2%	-16.1%	+5.1%	+2.9%	-12.6%
Profit Margin	-22.6%	+20.2%	-5.4%	+48.7%	-199.4%
Net Income	-20.08M	21.28M	-7.43M	58.12M	-284.46M
Net Income to Common	-20.08M	21.28M	-7.43M	58.12M	-284.46M
Earnings From Continuing Ops.	-20.08M	21.28M	-7.62M	56.89M	-284.61M
Minority Interest in Earnings	—	—	0.19M	1.23M	0.14M
Income Tax Expense	-1.97M	—	1.83M	1.83M	1.83M
Effective Tax Rate	—	—	—	+3.1%	—
Per Share & Capital
EPS (Basic)	-0.02	0.02	-0.01	0.11	-0.56
EPS (Diluted)	-0.02	0.02	-0.01	0.11	-0.56
Shares Change (YoY)	-0.12	0.45	0.25	—	—
Shares Outstanding (Basic)	812.45M	925.48M	637.70M	509.60M	509.60M
Shares Outstanding (Diluted)	812.45M	925.48M	637.70M	509.60M	509.60M
Free Cash Flow	-59.32M	-46.78M	10.93M	126.71M	29.34M
Free Cash Flow Margin	-66.9%	-44.3%	+8.0%	+106.2%	+20.6%
Free Cash Flow Per Share	-0.07	-0.05	0.02	0.25	0.06
Supplemental
Other Unusual Items	-5.70M	19.47M	19.71M	6.66M	1.93M