Page 27 - AAE PR REPORT - November 2024

Economy

Al Ansari Financial Services: Strong Performance

Despite Economic and Geopolitical Challenges

Dubai, UAE – November 9, 2024: Al Ansari Financial Services (listed on the Dubai Financial Market
under the ticker DFM: ALANSARI) has announced its financial results for the first nine months of
2024 and the third quarter ending September 30. Despite facing pressures from economic and
geopolitical challenges, the company reported growth in certain key indicators.

Q3 2024: Modest Growth and Continued Challenges
In Q3 2024, Al Ansari Financial Services posted an operating income of AED 288 million, marking a
slight 1% increase YoY. Excluding exceptional revenue from operations in Iraq during Q3 2023,
adjusted operating income grew by 11%.
EBITDA, however, declined by 7% YoY to AED 131 million. On a positive note, adjusted EBITDA grew
by 14% compared to the same period last year.
Net profit after tax fell 17% to AED 103 million, though it increased by 4% when adjusted for non-
recurring items.

First Nine Months of 2024: Slight Decline in Some Key Metrics
For the first nine months of 2024, the company reported a total operating income of AED 855
million, a slight 1% decrease compared to the same period in 2023. However, adjusted operating
income showed a 4% increase.
Net profit after tax dropped by 20% to AED 308 million, largely due to higher operating costs and the

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despite-economic-and-geopolitical-challenges/#google_vignette