Press releases, Reports & Disclosures for TECOM GROUP P.J.S.C.

The earnings call for TECOM Group PJSC regarding the financial statements for the first quarter ending on March 31, 2025, was held at 3:00 pm on Monday, May 12, 2025. Shareholders and investors are encouraged to visit the Investor Relations page on the company's website to view the presentation of the financial results and operational highlights for the period. A link to the presentation is provided. The communication is addressed to Mr. Hamad Ali, CEO of the Dubai Financial Market, and is copied to the Securities and Commodities Authority. The letter is from Abdulla Belh, a Chief Executive, and TECOM Group is a member of Dubai Holding.

TECOM Group reported a 23% increase in net profit for Q1 2025, driven by Dubai's strong economic performance and global investment appeal. Revenue rose 21% year-on-year to AED 680 million, supported by robust performance across all business segments and a strategic focus on sustainable growth. EBITDA increased by 23% to AED 540 million, with the EBITDA margin improving to 79%. The net profit reached AED 361 million, aided by higher revenue and effective capital management. The customer base grew by 6% to over 12,000, with strong demand for commercial, industrial, and land lease assets. The group's results reflect the strength of its diverse asset portfolio and its successful long-term growth strategy. Operational highlights include a 4% increase in commercial and industrial occupancy to 95% and a 2% rise in land lease occupancy to 98%.

TECOM Group PJSC and its subsidiaries have released their condensed interim consolidated financial statements for the three-month period ending on March 31, 2025.

The Board of Directors of TECOM Group PJSC will meet on Thursday, May 1, 2025, at 3:00 PM to review and approve the condensed consolidated interim financial statements for the first quarter of 2025, along with other regular matters and any additional business. This meeting has been disclosed to the Dubai Financial Market and the Securities and Commodities Authority.

TECOM Group held its Annual General Assembly Meeting at Dubai Internet City, where shareholders approved a cash dividend of AED 400 million for the second half of 2024. This brings the total dividends for 2024 to AED 800 million. The Board of Directors was re-elected, and the financial statements for 2024 were approved. Chairman Malek Al Malek highlighted the group's strong performance in 2024, which included AED 2.7 billion in strategic investments aimed at sustainable growth. TECOM reported a 11% increase in revenues to AED 2.4 billion and a 14% rise in net profits to AED 1.2 billion for 2024, with high occupancy and retention rates. The group continues to focus on expanding its portfolio and enhancing customer satisfaction across its business districts.