Emaar Properties PJSC Full Year 2023 Earnings: Beats Expectations

Emaar Properties PJSC (DFM:EMAAR) Full Year 2023 Results

Key Financial Results

• Revenue: د.إ26.8b (up 7.3% from FY 2022).
• Net income: د.إ11.6b (up 70% from FY 2022).
• Profit margin: 44% (up from 27% in FY 2022). The increase in margin was primarily driven by lower expenses.
• EPS: د.إ1.32 (up from د.إ0.83 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Emaar Properties PJSC Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 6.9%. Earnings per share (EPS) also surpassed analyst estimates by 22%.

Looking ahead, revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Real Estate industry in United Arab Emirates.

Performance of the Emirian Real Estate industry.

The company's shares are up 2.8% from a week ago.

Valuation

Our analysis of these results suggests Emaar Properties PJSC may be undervalued based on 6 important criteria we look at. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking here.

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