DAE 2018 revenue, up 70%; profit before tax, up 135%

Dubai Aerospace Enterprise (DAE) total revenue for the full year 2018 was US$1,436.6 million, up 70%, compared to US$845.8 million in 2017. Profit before tax rose 135% to US$428.8 million, with a pre-tax profit margin of 30% and pre-tax return on equity of 12.8%. DAE’s net debt-to-equity was 2.57 times compared to year-end 2017 of 3.17 times. DAE’s unsecured debt as a percentage of total debt was 46% – a significant rise from the year-end 2017 figure of 23%. DAE ended 2018 with available liquidity of $1,558 million compared to $832 million at the end of 2017. Commenting on the