DAE announces H1 2020 financial results

In the six months ended 30 June 2020, Dubai Aerospace Enterprise (DAE) reported total revenue of US$672.6 million, compared to H1 revenue in 2019 of US$735.2 million. Net income was US$121.7 million, compared to H1 income in 2019 of US$197.1 million. The pre-tax profit margin was 20% this half year compared to 29% in the year-ago period. DAE’s net debt-to-equity is 2.51x, compared to 2.64x at the end of 2019. DAE’s unsecured debt as a percentage of total debt stands at 62%. The lessor has US$2.818bn in liquidity and $6.5bn in unencumbered assets. During the first half of the year, DAE repurchased