12
November
2013
|
12:56
Europe/Amsterdam

dnata Announces Half-Year Profits

dnata revenues rose 18% to AED 3.7 billion (US$ 1 billion), with net profits up 13% to AED 458 million (US$ 125 million) 

DUBAI, U.A.E., 12th November 2013: The Emirates Group today announced its half-year results which show a robust performance despite continued global economic pressure and high fuel prices, and reflect the Group’s steady focus on its long-term vision and business growth. 

The Emirates Group revenues reached AED 42.3 billion (US$ 11.5 billion) for the first six months of its current fiscal year ending 30 September 2013, up 13% from AED 37.5 billion (US$ 10.2 billion) at 30 September 2012. 

Net profit for the Group rose to AED 2.2 billion (US$ 600 million) an increase of 4% over the last year’s results. The Group’s cash position on 30 September 2013 was at AED 18.2 billion (US$ 4.9 billion), compared to AED 27.0 billion (US$ 7.3 billion) as at 31 March 2013. This is after a AED 1.8 billion bond repayment which matured in July 2013, a AED 367 million first instalment payment on a USD 1 billion Sukuk, and a AED 7 billion injection back into the business to fund new aircraft, engines, spares and other projects across the Group. 

“The global business environment continues to be challenging.  We have stayed agile even as we grow, and this ability to adapt and act quickly has been key to our success. Our investments in the infrastructure of both Emirates and dnata continue to pay off and while we keep a close watch on managing our immediate business targets, we never lose sight of our long-term goals, and that is why we continue to invest to build the business,” said His Highness (HH) Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group. 

In the past six months, the Group continued to invest in and expand its employee base, increasing its overall staff count by 11.7% to over 75,800 compared with 31 March 2013. 

dnata continues its strong performance, building on the success of its investments in international business growth and infrastructure which now span 38 countries. dnata’s revenue including other operating income is AED 3.7 billion (US$ 1 billion), 18% higher compared to AED 3.2 billion (US$ 864 million) last year.  Overall profit for dnata rose strongly by 13% to AED 458 million (US$ 125 million). 

dnata’s airport operations was the largest contributor to revenues with AED 1.4 billion (US$ 375 million), a 16% increase compared to AED 1.2 billion (US$ 324 million) in the same period last year. Across its operations, the number of aircraft handled by dnata rose to 141,845, an increase of 9%.

dnata’s in-flight catering operation, recorded strong growth and contributed AED 891 million (US$ 243 million) of its total revenue, up 39%. The number of meals uplifted was at 22.4 million meals for the first half of the fiscal year, up a massive 81% compared to last year. These increases mainly reflect its acquisition of Servair in Italy in June 2013. 

Revenue from dnata’s Travel Services operation contributed AED 303 million (US$ 83 million), up 16% from the same period last year. 

dnata’s cargo handling division also witnessed upward growth with revenues increasing by 4% to AED 546 million (US$ 149 million) on account of increased tonnage mainly for dnata’s UK operation and in Switzerland which rose in total by 2% to 809,236 tonnes.