Dubai - Mubasher: The consolidated net profits of Drake & Scull International reached AED 47.09 million in 2025, which reflected a year-on-year (YoY) plunge from AED 3.75 billion.
The basic loss per share totaled AED 0.02 at the end of 2025, versus earnings per share (EPS) of AED 1.68 a year earlier, according to the income statements.
The DFM-listed company generated 116% YoY higher revenues at AED 223.78 million in 2025 when compared to AED 103.67 million.
Consolidated total assets retreated to AED 610.80 million as of 31 December 2025 from AED 647.02 million in the previous year.
Theyab bin Tahnoon Al Nahyan, Chairman of Drake & Scull, said: “The group’s performance in 2025 reflects the successful transition through restructuring to disciplined execution and sustainable recovery.”
“We have restored profitability, strengthened our balance sheet, and laid the foundations for diversified growth,” he added.
The Chairman continued: “With a clear strategy, and a growing development platform, Drake & Scull is well positioned to create long-term value for its shareholders and stakeholders.”
Muin El Saleh, the CEO of Drake & Scull, said: “Our 2025 performance reflects the collective effort of our teams across the group and their focus on disciplined execution and corporate best-practice.”
“The progress achieved during the year demonstrates the strength of our operating platform and position us well as we continue to build momentum across our contracting and development activities,” the CEO noted.
Accumulated Losses
At the end of December 2025, the DFM-listed company incurred accumulated losses of AED 1.67 billion, equivalent to 58% of its paid-up capital.
The company attributed these losses to projects and operational challenges dating back to between 2015 and 2019.
The losses were mainly due to project overruns, unpaid receivables in GCC and India legacy projects, full impairment of goodwill and trademarks, and liquidated performance bonds, compounded by bank liens and court restrictions on liquidity.
To address these accumulated losses, Drake & Scull has implemented a multi-step recovery strategy. Measures include restructuring the business plan, improving liquidity through new equity, developing operational best practices, and pursuing legal claims to collect outstanding receivables.
The company is also focusing on reducing overhead costs, bidding for new profitable projects, and adjusting its strategy to rely less on general contracting and MEP works while emphasizing real estate development and specialized engineering projects.
