Talabat reports solid 4Q 2025 results

Talabat saw its adjusted net income come in at USD 124 mn in 4Q 2025, marking a modest 1% y-o-y jump, according to its earnings release (pdf). Management revenues were up 26% y-o-y to USD 1 bn. Gross merchandise value rose 21% y-o-y during the quarter to USD 2.5 bn, Talabat said in the release.

For the full year, Talabat saw its net income jump 15% y-o-y to USD 451 mn and management revenues increased 31% y-o-y to USD 3.9 bn.

Looking ahead: “As we enter 2026, we are now taking a deliberate step to invest more in our business with the full support of our Board. We have earmarked more than USD 100 mn in ecosystem investments for 2026,” Talabat CEO Toon Gyssels said.

AD Ports reports increases across the board

AD Ports Group saw a 18% y-o-y jump to AED 584 mn in its bottom line in 4Q 2025, according to an earnings release (pdf). The firm’s top line posted a 30% y-o-y climb to AED 6 bn during the same period.

Full-year 2025 stayed in the same lane: The group reported a 17% y-o-y rise to AED 2.1 bn in net income in FY 2025, while its revenues saw a 20% y-o-y increase to AED 20.8 bn during the same period.

By the segment:

  • Revenues from the group’s port clusters rose 21% y-o-y to AED 2.9 bn in FY 2025 — driven by growth in international container operations, bulk and general cargo, as well as higher container concession fees from UAE operations, supported by the ramp-up of CMA terminals at Khalifa Port;
  • Maritime and shipping revenue climbed 33% y-o-y to AED 10.7 bn — led by growth across business segments;
  • The economic cities and freezones sector recorded a 45% y-o-y rise in revenues to AED 2.9 bn — on the back of its AED 2.5 bn land sale agreement to Mira Developments and AED 570 mn sale of two built-to-suit warehouses to Aldar;
  • The logistics segment’s top line fell 6% y-o-y to AED 4.4 bn in 2025 — on the back of a softer freight forwarding market and the reclassification of Sesé Auto Logistics out of the cluster.

Abu Dhabi Aviation posts a mixed bag of earnings

Abu Dhabi Aviation reported a 17.5% y-o-y fall in its bottom line to AED 1 bn in FY 2025, according to an earnings release (pdf). The firm’s top line rose 9.9% y-o-y to AED 7.8 bn — driven by a surge in general aviation revenue to AED 1.2 bn from AED 761 mn a year earlier.

Behind the numbers: The firm’s reported net income came in lower than the prior year’s AED 1.3 bn, largely because FY 2024 included a one-off AED 596.8 mn gain tied to its reverseacquisitiontransaction with ADQ Aviation. Take that out, and the operating picture looks firmer, with gross income rising to AED 1.4 bn from AED 918.6 mn.

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