Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 4 highly experienced directors. Director Ahmed Salem Abdulla Alhosani was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • May 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 21% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 21% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (91% cash payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Reported Earnings • May 13
First quarter 2026 earnings released: EPS: د.إ0.04 (vs د.إ0.04 in 1Q 2025) First quarter 2026 results: EPS: د.إ0.04 (in line with 1Q 2025). Revenue: د.إ765.7m (down 3.4% from 1Q 2025). Net income: د.إ171.3m (flat on 1Q 2025). Profit margin: 22% (in line with 1Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 6.5% decline forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 24
Upcoming dividend of د.إ0.25 per share Eligible shareholders must have bought the stock before 01 May 2026. Payment date: 14 May 2026. Payout ratio is a comfortable 69% but the company is paying out more than the cash it is generating. Trailing yield: 6.2%. Lower than top quartile of Emirian dividend payers (6.9%). Higher than average of industry peers (2.6%). Announcement • Apr 01
Dubai Investments PJSC, Annual General Meeting, Apr 23, 2026 Dubai Investments PJSC, Annual General Meeting, Apr 23, 2026, at 15:00 Arabian Standard Time. Location: dubai United Arab Emirates Price Target Changed • Mar 31
Price target decreased by 39% to د.إ2.40 Down from د.إ3.92, the current price target is an average from 2 analysts. New target price is 37% below last closing price of د.إ3.80. Stock is up 60% over the past year. The company posted earnings per share of د.إ0.36 last year. Announcement • Mar 29
Dubai Investments PJSC Announces the Promotion of Nishant Shah to the Post of Chief Financial Officer Dubai Investments PJSC has announced the promotion of Nishant Shah to the post of Chief Financial Officer (CFO). He had been serving as the Acting Chief Financial Officer since July 2025, having previously held the role of Finance Director, ensuring continuity and stability within the Group's finance function during the leadership transition, said a statement from Dubai Investments. In this role, Nishant will be responsible for leading the Group's financial strategy, overseeing financial reporting, treasury and investment activities in addition to further strengthening financial governance across Dubai Investments' diversified portfolio. Since joining Dubai Investments in 2019, Nishant Shah has played a key role in enhancing financial reporting frameworks, reinforcing internal controls and supporting mergers, acquisitions and financing initiatives across the group. Prior to joining Dubai Investments, he held senior audit and advisory roles at KPMG Lower Gulf, where he worked with listed companies, multinational corporations and large family-owned businesses. Declared Dividend • Mar 26
Dividend increased to د.إ0.25 Dividend of د.إ0.25 is 39% higher than last year. Ex-date: 1st May 2026 Payment date: 14th May 2026 Dividend yield will be 6.5%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but not adequately covered by cash flows (95% cash payout ratio). The dividend has increased by an average of 4.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 54% over the next 2 years. Since a fall of 46% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Announcement • Mar 25
Dubai Investments PJSC announces Annual dividend, payable on May 14, 2026 Dubai Investments PJSC announced Annual dividend of AED 0.2500 per share payable on May 14, 2026, ex-date on May 01, 2026 and record date on May 04, 2026. Reported Earnings • Mar 25
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: د.إ0.36 (up from د.إ0.28 in FY 2024). Revenue: د.إ3.79b (flat on FY 2024). Net income: د.إ1.55b (up 29% from FY 2024). Profit margin: 41% (up from 32% in FY 2024). Revenue exceeded analyst estimates by 33%. Earnings per share (EPS) also surpassed analyst estimates by 140%. Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 3.5% decline forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. New Risk • Mar 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (104% cash payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Announcement • Mar 16
Dubai Investments PJSC to Report Fiscal Year 2025 Results on Mar 24, 2026 Dubai Investments PJSC announced that they will report fiscal year 2025 results on Mar 24, 2026 Price Target Changed • Mar 15
Price target increased by 15% to د.إ3.92 Up from د.إ3.41, the current price target is provided by 1 analyst. New target price is 14% above last closing price of د.إ3.43. Stock is up 44% over the past year. The company is forecast to post earnings per share of د.إ0.15 for next year compared to د.إ0.28 last year. New Risk • Nov 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.4% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (104% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: د.إ0.12 (vs د.إ0.057 in 3Q 2024) Third quarter 2025 results: EPS: د.إ0.12 (up from د.إ0.057 in 3Q 2024). Revenue: د.إ1.04b (up 11% from 3Q 2024). Net income: د.إ510.8m (up 112% from 3Q 2024). Profit margin: 49% (up from 26% in 3Q 2024). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Nov 11
Dubai Investments PJSC to Report Nine Months, 2025 Results on Nov 13, 2025 Dubai Investments PJSC announced that they will report nine months, 2025 results on Nov 13, 2025 Price Target Changed • Aug 21
Price target increased by 11% to د.إ2.71 Up from د.إ2.44, the current price target is an average from 2 analysts. New target price is 5.9% below last closing price of د.إ2.88. Stock is up 43% over the past year. The company posted earnings per share of د.إ0.28 last year. New Risk • Aug 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.7% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (131% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Aug 05
Second quarter 2025 earnings released: EPS: د.إ0.08 (vs د.إ0.068 in 2Q 2024) Second quarter 2025 results: EPS: د.إ0.08 (up from د.إ0.068 in 2Q 2024). Revenue: د.إ882.6m (down 22% from 2Q 2024). Net income: د.إ331.3m (up 15% from 2Q 2024). Profit margin: 38% (up from 26% in 2Q 2024). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Jul 29
Dubai Investments PJSC to Report First Half, 2025 Results on Aug 04, 2025 Dubai Investments PJSC announced that they will report first half, 2025 results on Aug 04, 2025 Reported Earnings • May 09
First quarter 2025 earnings released: EPS: د.إ0.04 (vs د.إ0.028 in 1Q 2024) First quarter 2025 results: EPS: د.إ0.04 (up from د.إ0.028 in 1Q 2024). Revenue: د.إ793.5m (flat on 1Q 2024). Net income: د.إ170.9m (up 43% from 1Q 2024). Profit margin: 22% (up from 15% in 1Q 2024). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has remained flat. Announcement • May 07
Dubai Investments PJSC to Report Q1, 2025 Results on May 08, 2025 Dubai Investments PJSC announced that they will report Q1, 2025 results on May 08, 2025 Declared Dividend • Mar 26
Dividend of د.إ0.18 announced Shareholders will receive a dividend of د.إ0.18. Ex-date: 25th April 2025 Payment date: 1st January 1970 Dividend yield will be 7.7%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (63% earnings payout ratio) but not adequately covered by cash flows (93% cash payout ratio). The dividend has increased by an average of 5.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 25
Dubai Investments PJSC, Annual General Meeting, Apr 16, 2025 Dubai Investments PJSC, Annual General Meeting, Apr 16, 2025, at 15:00 Arabian Standard Time. Reported Earnings • Mar 16
Full year 2024 earnings released: EPS: د.إ0.28 (vs د.إ0.27 in FY 2023) Full year 2024 results: EPS: د.إ0.28 (up from د.إ0.27 in FY 2023). Revenue: د.إ3.80b (up 12% from FY 2023). Net income: د.إ1.21b (up 6.6% from FY 2023). Profit margin: 32% (down from 33% in FY 2023). Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year. Announcement • Mar 12
Dubai Investments PJSC to Report Fiscal Year 2024 Results on Mar 13, 2025 Dubai Investments PJSC announced that they will report fiscal year 2024 results on Mar 13, 2025 Buy Or Sell Opportunity • Nov 26
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 2.9% to د.إ2.11. The fair value is estimated to be د.إ1.74, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Earnings per share has grown by 13%. Revenue is forecast to grow by 4.7% in 2 years. Earnings are forecast to grow by 2.9% in the next 2 years. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: د.إ0.06 (vs د.إ0.056 in 3Q 2023) Third quarter 2024 results: EPS: د.إ0.06 (up from د.إ0.056 in 3Q 2023). Revenue: د.إ932.3m (up 7.5% from 3Q 2023). Net income: د.إ241.3m (up 2.0% from 3Q 2023). Profit margin: 26% (down from 27% in 3Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 7.2% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 28
Now 20% overvalued The stock has been flat over the last 90 days, currently trading at د.إ2.06. The fair value is estimated to be د.إ1.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to decline by 1.7% in 2 years. Earnings are forecast to decline by 10% in the next 2 years. Buy Or Sell Opportunity • Oct 08
Now 20% overvalued Over the last 90 days, the stock has fallen 1.5% to د.إ2.03. The fair value is estimated to be د.إ1.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to decline by 1.7% in 2 years. Earnings are forecast to decline by 10% in the next 2 years. Buy Or Sell Opportunity • Aug 26
Now 21% overvalued Over the last 90 days, the stock has fallen 3.3% to د.إ2.04. The fair value is estimated to be د.إ1.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 23%. Revenue is forecast to decline by 1.7% in 2 years. Earnings are forecast to decline by 10% in the next 2 years. Announcement • Aug 10
Dubai Investments PJSC to Report First Half, 2024 Results on Aug 08, 2024 Dubai Investments PJSC announced that they will report first half, 2024 results on Aug 08, 2024 Reported Earnings • Aug 09
Second quarter 2024 earnings released: EPS: د.إ0.07 (vs د.إ0.063 in 2Q 2023) Second quarter 2024 results: EPS: د.إ0.07 (up from د.إ0.063 in 2Q 2023). Revenue: د.إ1.13b (up 33% from 2Q 2023). Net income: د.إ289.2m (up 8.7% from 2Q 2023). Profit margin: 26% (down from 31% in 2Q 2023). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: د.إ0.028 (vs د.إ0.074 in 1Q 2023) First quarter 2024 results: EPS: د.إ0.028 (down from د.إ0.074 in 1Q 2023). Revenue: د.إ791.9m (up 3.3% from 1Q 2023). Net income: د.إ120.0m (down 62% from 1Q 2023). Profit margin: 15% (down from 41% in 1Q 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. New Risk • May 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 4.7% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (33% net profit margin). Announcement • Mar 22
Dubai Investments PJSC, Annual General Meeting, Apr 17, 2024 Dubai Investments PJSC, Annual General Meeting, Apr 17, 2024, at 11:30 Coordinated Universal Time. Location: Dubai Investments House, Park Hall, Dubai Investments Park, Jebel Ali, Dubai United Arab Emirates Agenda: To review and approve the Directors' Report concerning the activities and financial status of the Company for the year ended 31st December 2023; to review and approve the Auditors' Report for the year ended 31st December 2023; to consider and approve the Consolidated Financial Statements of the Company for the year ended 31st December 2023; to consider the recommendation of the Board of Directors concerning cash dividend distribution for the year ended 31st December 2023; to consider and approve the Board of Directors' remuneration for the year ended 31st December 2023; to absolve the Board of Directors from liability for the year ended 31st December 2023; and to consider other matters. Reported Earnings • Mar 09
Full year 2023 earnings released: EPS: د.إ0.27 (vs د.إ0.38 in FY 2022) Full year 2023 results: EPS: د.إ0.27 (down from د.إ0.38 in FY 2022). Revenue: د.إ3.40b (up 10% from FY 2022). Net income: د.إ1.13b (down 30% from FY 2022). Profit margin: 33% (down from 52% in FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Jan 29
Dubai Investments PJSC announced that it has received AED 60 million in funding from Global Fertility Partners Dubai Investments PJSC announced that it has raised AED60 million in an equity round of funding led by new investor, Global Fertility Partners on January 29, 2024. New Risk • Nov 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 28% Last year net profit margin: 54% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 13% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (103% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (28% net profit margin). Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: د.إ0.06 (vs د.إ0.27 in 3Q 2022) Third quarter 2023 results: EPS: د.إ0.06 (down from د.إ0.27 in 3Q 2022). Revenue: د.إ866.9m (up 16% from 3Q 2022). Net income: د.إ236.5m (down 79% from 3Q 2022). Profit margin: 27% (down from 151% in 3Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 22
Price target increased by 11% to د.إ2.21 Up from د.إ1.99, the current price target is an average from 2 analysts. New target price is 9.4% below last closing price of د.إ2.44. The company posted earnings per share of د.إ0.38 last year. Reported Earnings • Aug 05
Second quarter 2023 earnings released: EPS: د.إ0.06 (vs د.إ0.038 in 2Q 2022) Second quarter 2023 results: EPS: د.إ0.06 (up from د.إ0.038 in 2Q 2022). Revenue: د.إ849.2m (up 14% from 2Q 2022). Net income: د.إ266.0m (up 65% from 2Q 2022). Profit margin: 31% (up from 22% in 2Q 2022). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
First quarter 2023 earnings released: EPS: د.إ0.074 (vs د.إ0.048 in 1Q 2022) First quarter 2023 results: EPS: د.إ0.074 (up from د.إ0.048 in 1Q 2022). Revenue: د.إ767.4m (flat on 1Q 2022). Net income: د.إ314.4m (up 55% from 1Q 2022). Profit margin: 41% (up from 27% in 1Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 3.7% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 22
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: د.إ0.38 (up from د.إ0.15 in FY 2021). Revenue: د.إ4.06b (up 21% from FY 2021). Net income: د.إ1.61b (up 160% from FY 2021). Profit margin: 40% (up from 19% in FY 2021). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 40%. Earnings per share (EPS) missed analyst estimates by 2.6%. Revenue is expected to decline by 11% p.a. on average during the next 2 years, while revenues in the Industrials industry in Asia are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Jan 27
Dubai Investments PJSC (DFM:DIC) acquired 9% stake Monument Bank Limited. Dubai Investments PJSC (DFM:DIC) acquired 9% stake Monument Bank Limited on January 26, 2023. Alpen Capital (ME) Limited acted as financial advisor to Dubai Investments PJSC (DFM:DIC) in the deal.Dubai Investments PJSC (DFM:DIC) completed the acquisition of 9% stake Monument Bank Limited on January 26, 2023. Price Target Changed • Dec 23
Price target increased to د.إ1.99 Up from د.إ1.80, the current price target is an average from 2 analysts. New target price is 7.7% below last closing price of د.إ2.15. Stock is up 13% over the past year. The company is forecast to post earnings per share of د.إ0.39 for next year compared to د.إ0.15 last year. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: د.إ0.27 (vs د.إ0.036 in 3Q 2021) Third quarter 2022 results: EPS: د.إ0.27 (up from د.إ0.036 in 3Q 2021). Revenue: د.إ744.7m (down 12% from 3Q 2021). Net income: د.إ1.12b (up د.إ971.2m from 3Q 2021). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Industrials industry in Asia. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Chairman Abdulrahman Ghanem Al Mutaiwee was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: د.إ0.26 (vs د.إ0.036 in 3Q 2021) Third quarter 2022 results: EPS: د.إ0.26 (up from د.إ0.036 in 3Q 2021). Revenue: د.إ1.73b (up 105% from 3Q 2021). Net income: د.إ1.12b (up د.إ971.2m from 3Q 2021). Profit margin: 65% (up from 18% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Revenue is expected to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Industrials industry in Asia are expected to grow by 3.3%. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 12
Second quarter 2022 earnings released: EPS: د.إ0.04 (vs د.إ0.042 in 2Q 2021) Second quarter 2022 results: EPS: د.إ0.04 (down from د.إ0.042 in 2Q 2021). Revenue: د.إ746.9m (down 29% from 2Q 2021). Net income: د.إ161.5m (down 9.4% from 2Q 2021). Profit margin: 22% (up from 17% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 27%, compared to a 7.6% growth forecast for the industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Jun 29
Price target decreased to د.إ1.89 Down from د.إ2.04, the current price target is an average from 2 analysts. New target price is 15% below last closing price of د.إ2.21. Stock is up 30% over the past year. The company posted earnings per share of د.إ0.15 last year. Reported Earnings • May 15
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: د.إ0.048 (up from د.إ0.029 in 1Q 2021). Revenue: د.إ761.0m (up 19% from 1Q 2021). Net income: د.إ202.5m (up 64% from 1Q 2021). Profit margin: 27% (up from 19% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 16%, compared to a 9.8% growth forecast for the industry in United Arab Emirates. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 27
Price target increased to د.إ1.97 Up from د.إ1.82, the current price target is provided by 1 analyst. New target price is 20% below last closing price of د.إ2.47. Stock is up 60% over the past year. The company posted earnings per share of د.إ0.15 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Chairman Abdulrahman Ghanem Al Mutaiwee was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Apr 13
Actis LLP agreed to acquire 50% stake in Emirates District Cooling L.L.C from Dubai Investments PJSC (DFM:DIC) Actis LLP agreed to acquire 50% stake in Emirates District Cooling L.L.C from Dubai Investments PJSC (DFM:DIC) for an enterprise value of AED 3.7 billion on April 12, 2022. Al Mal Capital PSC acted as Sole financial advisor to Dubai Investments. Synergy Consulting acted as the sole financial advisor to Actis. Price Target Changed • Apr 02
Price target increased to د.إ1.97 Up from د.إ1.80, the current price target is provided by 1 analyst. New target price is 20% below last closing price of د.إ2.45. Stock is up 49% over the past year. The company is forecast to post earnings per share of د.إ0.18 for next year compared to د.إ0.15 last year. Reported Earnings • Mar 15
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: د.إ0.15 (up from د.إ0.082 in FY 2020). Revenue: د.إ3.35b (up 21% from FY 2020). Net income: د.إ619.5m (up 78% from FY 2020). Profit margin: 19% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 7.1%. Over the next year, revenue is forecast to grow 22%, compared to a 8.9% growth forecast for the industry in United Arab Emirates. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Reported Earnings • Feb 02
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: د.إ0.15 (up from د.إ0.082 in FY 2020). Revenue: د.إ3.42b (up 24% from FY 2020). Net income: د.إ619.5m (up 78% from FY 2020). Profit margin: 18% (up from 13% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) missed analyst estimates by 47%. Over the next year, revenue is forecast to grow 19%, compared to a 43% growth forecast for the industry in United Arab Emirates. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Dec 17
Dubai Investments PJSC (DFM:DIC) made an offer to acquire 91.5% stake in National General Insurance Co. (P.J.S.C.) (DFM:NGI) Dubai Investments PJSC (DFM:DIC) made an offer to acquire 54.82% stake in National General Insurance Co. (P.J.S.C.) (DFM:NGI) for approximately AED 260 million on December 15, 2021. Dubai Investments PJSC will acquire all shares at AED 3.12 per share. The tender offer is open till December 29, 2021. Al Tamimi & Company acted as legal advisor for Dubai Investments PJSC. Price Target Changed • Nov 29
Price target increased to د.إ1.70 Up from د.إ1.38, the current price target is an average from 2 analysts. New target price is 6.4% below last closing price of د.إ1.81. Stock is up 45% over the past year. The company posted earnings per share of د.إ0.082 last year. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS د.إ0.04 (vs د.إ0.05 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: د.إ841.9m (up 9.6% from 3Q 2020). Net income: د.إ153.5m (down 28% from 3Q 2020). Profit margin: 18% (down from 28% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS د.إ0.04 (vs د.إ0.05 in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: د.إ1.05b (up 72% from 2Q 2020). Net income: د.إ178.3m (down 16% from 2Q 2020). Profit margin: 17% (down from 35% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • May 04
First quarter 2021 earnings released: EPS د.إ0.029 (vs د.إ0.002 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: د.إ637.6m (up 37% from 1Q 2020). Net income: د.إ123.8m (up د.إ130.6m from 1Q 2020). Profit margin: 19% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 12
Full year 2020 earnings released: EPS د.إ0.08 (vs د.إ0.15 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: د.إ2.77b (up 2.8% from FY 2019). Net income: د.إ347.6m (down 47% from FY 2019). Profit margin: 13% (down from 24% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 12
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) missed analyst estimates by 47%. Over the next year, revenue is forecast to stay flat compared to a 8.7% growth forecast for the Industrials industry in United Arab Emirates. Is New 90 Day High Low • Jan 04
New 90-day high: د.إ1.53 The company is up 38% from its price of د.إ1.11 on 07 October 2020. The Emirian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Industrials industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is د.إ3.26 per share.