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11/11/24, 10:46 AM dayofdubai.com | Al Ansari Financial Services Reports Q3 and 9M 2024 Results, Highlights Strategic Expansions and Digital Gro…

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Nov 09, 2024 202 20

Al Ansari Financial Services Reports Q3 And 9M

2024 Results, Highlights Strategic Expansions

And Digital Growth

Al Ansari Financial Services PJSC (DFM: ALANSARI), the parent company of Al Ansari Exchange and
a leading financial services provider in the UAE, has released its financial results for the third quarter

and first nine months of 2024, ended September 30, 2024. Despite a challenging economic
environment, the Group achieved significant milestones in digital and branch network expansion while
maintaining a stable financial position.

Financial Highlights

For Q3 2024, Al Ansari reported:

Operating Income: AED 288 million, up 1% YoY
EBITDA: AED 130.6 million, down 7% YoY, with a 45.4% margin
Net Profit after Tax: AED 103 million, a 17% decline YoY
Free Cash Flow: AED 122.7 million, down 5% YoY
For the 9M period of 2024:

Operating Income: AED 855 million, a 1% decrease YoY
EBITDA: AED 388.6 million, an 11% decline YoY
Net Profit after Tax: AED 308.5 million, a 20% drop YoY
The adjusted figures, excluding a one-off income from Iraq in Q3 2023, highlight a 4% rise in

Operating Income YoY, reflecting solid performance when accounting for non-recurring factors.

Operational Developments And Strategic Growth

Al Ansari continues to expand its footprint, with total branches reaching 263 locations by Q3 2024.
Additionally, it is progressing with acquisitions and integrations, including:

BFC Group Holdings W.L.L.: Expected completion by Q1 2025, enhancing regional presence.
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