EMIRATES GROUP-

Emirates Group’s net income rose 13% y-o-y to AED 10.6 bn in 1H 2025, reporting what it says is a record-breaking half-year bottom line for the fourth consecutive year, according to an earnings release. The group’s top line rose 4% y-o-y to AED 75.4 bn for the same period, underpinned by strong travel demand. The group’s FY starts in March.

Dubai’s flagship carrier Emirates — and its core business unit — saw its bottom line rise 13% y-o-y to AED 9.9 bn, while its top line grew 6% y-o-y to AED 65.6 bn due to continuous travel demand in all markets, and traction for its premium cabins, management said. Emirates’ air freight arm, Emirates SkyCargo, saw deliveries rise 4% y-o-y to some 1.3 mn tons in 1H 2025, which coincided with the addition of three new Boeing 777 freighters. Meanwhile, cargo yields fell by 6% as demand softened in some markets, partly due to tariff concerns.

dnata sees record revenues: The group’s air services subsidiary Dnata saw its net income rose 22% y-o-y to AED 697 mn, while its revenues also increased 13% y-o-y to AED 11.7 bn, on strong ground hailing services’ performance, the earnings release said.

EMAAR PROPERTIES-

Emaar Properties posted net income of AED 5.8 bn in 3Q 2025, a 37% increase from the previous year, according to its financials (pdf). It logged revenues of AED 13.3 bn, up 41.4% y-o-y. During 9M, the firm’s net income reached AED 14.6 bn, a 32.6% increase y-o-y. Revenues went up 39.1% to reach AED 33.1 bn, underpinned by a diversified portfolio and strong financial performance across property development, retail, hospitality, and international businesses.

Behind the results: The developer’s property sales rose 22% in 9M, reaching AED 61 bn, driven by strong demand across flagship projects under its UAE build-to-sell arm Emaar Development — which saw a 41% y-o-y uptick in revenues to AED 17.6 bn, according to a separate earnings release (pdf). International sales surged 331% y-o-y to AED 8.1 bn on rising demand in India and Egypt, while Emaar’s overall revenue backlog stood at AED 150.3 bn at the end of 9M.

SPACE42-

ADX-listed space tech firm Space42 reported an 84.4% y-o-y decline in net income during 3Q 2025, coming in at AED 5.9 mn, according to its financials (pdf). Its revenues fell 11.7% to AED 136.2 mn. During 9M, net income was down 49.8% y-o-y to AED 56.1 mn, while revenues dropped 15.4% y-o-y to AED 362.6 mn.

Behind the dip: The costs of revenues, staff, and operating expenses rose during the period, with 9M also seeing the firm restructure its smart solutions division to focus on its Earth Observation program, according to a separate earnings release (pdf). Despite the overall decline, the management solutions segment saw its top line double, while its space services segment’s top line grew 11% q-o-q, driven by the launch of Thuraya 4 satellite operations and a 15-year, USD 700 mn government contract that started on 1 July. The firm currently has a future revenue pipeline of USD 6.7 bn.

Looking ahead: Momentum from space services is anticipated to accelerate further in 4Q as the firm launches new defense and commercial applications, with solid y-o-y growth anticipated.

AGTHIA-

ADQ-owned F&B firm Agthia reported a net income of AED 62.3 mn during 3Q 2025, a 4% decline y-o-y, according to its management discussion and analysis report (pdf). Its revenues came in at AED 1.1 bn, up 5% from the previous year, driven by strong growth performance across all of its four segments.

During the nine-month period, the group’s net income stood at AED 158.6 mn, a 39.9% drop from 9M the previous year. Revenues also fell 1.3% y-o-y to AED 3.6 bn.

Its water and food segment saw the most growth, with revenues up 13.5% on the back of its recent acquisition of Riviere, according to a separate earnings release (pdf). On the flipside, its agri-business’ top line was down 10.5% y-o-y amid softer pricing, while protein and frozen operations dipped 4.5%.

EMPOWER-

Emirates Central Cooling Systems Corp (Empower) saw its bottom line reach AED 286.6 mn in 3Q 2025, up 8.1% y-o-y, according to its financials (pdf). Revenues went up 3% to AED 1.1 bn during the quarter.

On a nine-month basis, Empower posted a bottom line of AED 688.7 mn, up 4.8% y-o-y, while revenue reached AED 2.6 bn, up 5.5% y-o-y. Growth was driven by rising demand for cooling services in Dubai as the real estate sector continued to boom, according to a separate earnings release (pdf). Empower added 24k refrigeration tons (RT) during 3Q, bringing its total connected capacity to 1.6 mn RT. The quarter saw a further 56k RT contracted across 52 agreements, bringing total contracted capacity to 1.9 mn RT at the end of 9M.

Expansion ahead is supported by new plant developments — including the Dubai Science Park plant, with construction starting in 1Q 2026 — and multi-year phased supply to Al Habtoor Tower through end-2027.

ADNH CATERING-

ADNH Catering reported AED 50.2 mn net income in 3Q 2025, a 31.4% y-o-y increase, according to the company’s financial statements (pdf). Total revenues grew 4.8% y-o-y to AED 426.8 mn. The quarterly performance was driven by strategic acquisitions, including a 100% stake in Food Nation Catering Services and an increase of its stake in Compass Arabia.

For 9M 2025: The group achieved total revenues of AED 1.3 bn, an increase of 11.6% y-o-y in 9M 2025, while cumulative net income reached AED 123.9 mn, reflecting a 15.2% rise y-o-y.

Dividends: The board proposed a banknote dividend of AED 0.04 per share, amounting to AED 90 mn for the first six months of 2025, scheduled for payment this November.

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