Abu Dhabi – Mubasher: The net profits of Dana Gas fell by 6% year-on-year (YoY) to $151 million (AED 553 million) in 2024 from $160 million (AED 586 million).
The revenues grew by 5% in 2024, recording $445 million (AED 1.63 billion), compared to $423 million (AED 1.55 billion) in 2023, according to the financial results
This was driven mainly by the recognition of additional revenue from improved fiscal terms under Egypt's recently signed Consolidated Concession Agreement.
Total assets hiked to $2.95 billion (AED 10.81 billion) last year from $1.79 billion (AED 10.24 billion) in 2023, while the earnings per share (EPS) declined to $0.021 (AED 0.079) from $0.023 (AED 0.084).
Excluding this one-off impairment, the net profits jumped by 15% YoY to $184 million (AED 674 million) as of 31 December 2024 from $160 million (AED 586 million).
Financials for Q4
In the fourth quarter (Q4) of 2024, the revenue increased by 64% YoY to $159 million (AED 583 million) from $97 million (AED 356 million).
The net profit increased by 15% to $39 million (AED 143 million) in Q4-24, compared to $34 million (AED 125 million) in Q4-23.
As of 30 September 2024, the ADX-listed firm logged net profits worth $112 million (AED 410 million).
