- Aldar’s second-quarter profit reached 1.97 billion dirhams, a 27% increase compared to the previous year, surpassing the estimated 1.77 billion dirhams.
- Revenue for the quarter was 7.74 billion dirhams, marking a 46% year-over-year increase and slightly exceeding the expected 7.63 billion dirhams.
- The company’s EBITDA grew by 36% to 1.5 billion dirhams.
- Earnings per share (EPS) rose to 0.251 dirhams from last year’s 0.197 dirhams, beating the estimate of 0.21 dirhams.
- Strong performance attributed to high demand for existing inventory and five new launches in the UAE.
- The development backlog increased to 62.3 billion dirhams.
- Aldar maintains a strong liquidity position with 12.2 billion dirhams in free and unrestricted cash.
- The company also has 17.5 billion dirhams in committed undrawn bank facilities as of the end of June.
- Current market ratings include 10 buys, 0 holds, and 1 sell.
A look at Aldar Properties PJSC Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts utilizing the Smartkarma Smart Scores have provided insight into the long-term outlook for Aldar Properties PJSC. With a solid Growth score of 4 and Momentum score of 4, the company is positioned well for future development and market performance. Aldar Properties is known for its strategic focus on expanding and growing its portfolio, which aligns with the positive indicators in these areas.
While the Value and Dividend scores are moderate at 3 and 2 respectively, the company’s Resilience score of 3 suggests a stable foundation and ability to withstand market fluctuations. Overall, Aldar Properties PJSC presents a promising long-term outlook driven by its strong growth prospects and momentum in the market.
### Aldar Properties PJSC is a property development, investment and management company operating in the Middle East and North Africa region. The Company, and its subsidiaries, develops commercial and residential apartments, as well as hotels, schools, offices, marinas, and golf courses. Aldar Properties is based out of Abu Dhabi, United Arab Emirates and was incorporated in 2005. ###
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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