Q2 2025 Aldar Properties PJSC Earnings Call Transcript
Key Points
- Aldar Properties PJSC (ADX:ALDAR) reported a 42% year-on-year increase in group revenue for the first half of 2025, reaching AED15.5 billion.
- The company's EBITDA rose by 38% to AED5.3 billion, indicating strong operational performance.
- Net profit after tax increased by 24% year-on-year to AED4.1 billion, showcasing robust profitability.
- Aldar's development sales grew by 31% year-on-year to AED18.3 billion, driven by successful project launches and strong demand.
- The investment platform achieved an 18% rise in adjusted EBITDA to AED1.6 billion, supported by high occupancy and rental growth.
- Aldar Properties PJSC (ADX:ALDAR) experienced an increase in the effective tax rate to 12.2% from 4.1% in the previous year, impacting net profit margins.
- The company's gross profit margin for Aldar Developments was slightly below the lower end of guidance, indicating potential pressure on profitability.
- There is a noted gap between sales value and backlog for certain projects, attributed to timing issues in SPA countersignature.
- Concerns were raised about potential oversupply in certain residential segments, particularly in Dubai, which could affect future sales.
- The residential leasing portfolio's growth in the D-Hold segment has been slower compared to other asset classes, indicating a missed opportunity.
Hello, everyone, and welcome to the Aldar Properties H1 2025 Financial Results Call. My name is Emily, and I'll be coordinating your call today. (Operator Instructions)
I will now hand over to Mr. Faisal Falaknaz, Group Chief Financial and Sustainability Officer. Mr. Falaknaz, please go ahead.
Hello, everyone. Thank you very much for joining this call to discuss Aldar's financial results for the first 6 months of 2025. We are making good progress against the new 2030 strategy launched back in January, which is designed to accelerate growth and diversification as well as enhance long-term institutional resilience. Aldar has delivered broad-based growth across both the development and investment platforms in the context of favorable market conditions and demand in the UAE. The strong performance was driven by the successful launch of new development projects in the UAE, strong sales of existing developed sell inventory, recognition against the substantial
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