{"id":102710,"date":"2025-04-17T00:00:00","date_gmt":"2025-04-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/"},"modified":"2025-04-17T00:00:00","modified_gmt":"2025-04-17T00:00:00","slug":"dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/","title":{"rendered":"Dubai earnings jump 20.1% in 4Q as GCC growth slows"},"content":{"rendered":"

Dubai earnings climb in 4Q as Abu Dhabi slips:<\/strong> Dubai-listed companies have fared well compared to their Gulf peers in 4Q 2024, reporting a 20.1% y-o-y growth in net income to USD 6.7 bn, according to Kamco Invest\u2019s GCC Corporate Earnings report (pdf)<\/a>. Meanwhile, ADX-listed firms brought in USD 9.4 bn during the quarter \u2014 down 21.6% y-o-y and marking one of the sharper declines across the region.<\/p>\n

Dubai\u2019s growth was driven by banking, real estate, and utilities<\/strong>, which together contributed over 86.4% of the quarter\u2019s aggregate earnings. Banking sector income rose 12.2% y-o-y to USD 2.9 bn, with Emirates NBD reporting FY 2024 earnings of USD 6.3 bn (+6.9%)<\/a>, followed by our friends at Mashreq at USD 2.4 bn (+3.3%)<\/a> and Dubai Islamic Bank at USD 2.2 bn (+16.7%)<\/a>.<\/p>\n

Real estate earnings climbed 19.7% y-o-y in 4Q to USD 2.4 bn<\/strong>, with Emaar leading the charge. The developer closed the year with USD 3.7 bn<\/a> in net income, up 16.2% y-o-y on the back of strong operational performance.<\/p>\n

Abu Dhabi\u2019s 4Q drop was largely due to a<\/strong> 34.2% y-o-y fall in<\/strong> energy sector earnings<\/strong>, despite Adnoc Drilling posting a 26.2% y-o-y<\/a> bottom line increase and Adnoc Gas ending the year with USD 5.0 bn<\/a> in net income. Food and beverage firms also saw weaker results. On the flip side, banking helped cushion the blow, with 4Q income rising 10.9% y-o-y to USD 2.4 bn, supported by First Abu Dhabi Bank\u2019s FY 2024 earnings of USD 4.6 bn (+4%)<\/a>.<\/p>\n

Full-year snapshot:<\/strong> Dubai closed FY 2024 with USD 25.4 bn in net income, up 16.0% y-o-y. In Abu Dhabi, net income for 2024 came in at USD 36.2 bn, down 7.1% y-o-y.<\/p>\n

THE REGIONAL PICTURE-<\/p>\n

Aggregate net income for GCC-listed companie<\/strong>s hit USD 57.3 bn in 4Q 2024<\/strong>, up 2.0% y-o-y but down 5.0% q-o-q \u2014 marking a three-quarter low. The energy sector was the biggest drag, with earnings falling 16.6% y-o-y to USD 25.7 bn, while the utilities sector swung to a USD 1.3 bn net loss, driven by deeper losses at Saudi Electricity Co.<\/p>\n

Oman led the region in 4Q earnings growth<\/strong>, up 83.4% y-o-y, followed by Bahrain (+43.2%) and Kuwait (+37.1%). Dubai\u2019s 20.1% gain outpaced both Saudi Arabia and Qatar, which saw more modest increases.<\/p>\n

For the full year<\/strong>, GCC-listed companies recorded USD 241.1 bn in net income, down 1.4% from 2023. The steepest declines came from the energy, utilities, and food and beverage sectors. Banking was the region\u2019s strongest performer, with earnings for the year rising 10.3% to a record USD 60.1 bn. Telecoms followed, with a 171% y-o-y surge in 4Q earnings, driven by one-off gains at Saudi Telecom Co.<\/p>\n","protected":false},"excerpt":{"rendered":"

Abu Dhabi earnings dropped 21.6% in 4Q, on an energy slump<\/p>\n","protected":false},"author":1,"featured_media":102711,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[1360,74,29,130,87,237,7,1884],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-102710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-abu-dhabi","tag-adx","tag-capital-markets","tag-dfm","tag-dubai","tag-earnings-watch","tag-enterpriseam-uae","tag-kamco-invest","wpautop","entry"],"acf":{"mongo_id":"795ef60b-6b10-4808-8bda-f63b7835da1b","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/1093.png","photo_position":"above","homepage_title":"","full_issue_title":"Dubai earnings jump 20.1% in 4Q as GCC growth slows","related_issue":[102694],"teaser":"Abu Dhabi earnings dropped 21.6% in 4Q, on an energy slump","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.b9a40437-8d28-4cdc-b261-8c5d29b085b1.mp3"},"yoast_head":"\nDubai earnings jump 20.1% in 4Q as GCC growth slows - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dubai earnings jump 20.1% in 4Q as GCC growth slows\" \/>\n<meta property=\"og:description\" content=\"Abu Dhabi earnings dropped 21.6% in 4Q, on an energy slump\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-17T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Dubai earnings jump 20.1% in 4Q as GCC growth slows\",\"datePublished\":\"2025-04-17T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/\"},\"wordCount\":409,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?fit=%2C&ssl=1\",\"keywords\":[\"Abu Dhabi\",\"ADX\",\"capital markets\",\"DFM\",\"Dubai\",\"EARNINGS WATCH\",\"EnterpriseAM UAE\",\"Kamco Invest\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/\",\"name\":\"Dubai earnings jump 20.1% in 4Q as GCC growth slows - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?fit=%2C&ssl=1\",\"datePublished\":\"2025-04-17T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dubai earnings jump 20.1% in 4Q as GCC growth slows\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Dubai earnings jump 20.1% in 4Q as GCC growth slows - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/","og_locale":"en_US","og_type":"article","og_title":"Dubai earnings jump 20.1% in 4Q as GCC growth slows","og_description":"Abu Dhabi earnings dropped 21.6% in 4Q, on an energy slump","og_url":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/","og_site_name":"UAE","article_published_time":"2025-04-17T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Dubai earnings jump 20.1% in 4Q as GCC growth slows","datePublished":"2025-04-17T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/"},"wordCount":409,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?fit=%2C&ssl=1","keywords":["Abu Dhabi","ADX","capital markets","DFM","Dubai","EARNINGS WATCH","EnterpriseAM UAE","Kamco Invest"],"articleSection":["EARNINGS WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/","url":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/","name":"Dubai earnings jump 20.1% in 4Q as GCC growth slows - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?fit=%2C&ssl=1","datePublished":"2025-04-17T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2025\/04\/17\/dubai-earnings-jump-20-1-in-4q-as-gcc-growth-slows\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"Dubai earnings jump 20.1% in 4Q as GCC growth slows"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1093.png?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/102710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=102710"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/102710\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/102694"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/102711"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=102710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=102710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=102710"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=102710"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=102710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}