‎DFM-listed firms' Q2 profit at AED 24.47B

Source: Argaam - UAE News
Source link: https://www.argaam.com/en/article/articledetail/id/1929959
Published: 2026-08-17 14:11:00
Discovered by ProcIntel: 2026-08-17 14:37:15
Category: GCC Spotlight
Geography: UAE
Organisations: —
Review status: Pending
Record type: REAL

Summary

‎<img src="https://argaamplus.s3.amazonaws.com/610a8bbe-5a27-44cb-a2af-383953ac3f3b.png" > Dubai Financial Market logo <hr> Aggregate profits of local companies listed on DFM (excluding foreign companies) rose 5% year-on-year (YoY) in Q2 2026 to AED 24.47 billion, compared to AED 23.24 billion in Q2 2025, driven primarily by the banking, real estate, and telecom sectors. In the current quarter, 48 companies reported profits, including 30 companies with higher profits, 16 companies with lower profits, and two companies which turned to profit compared to recording losses in the year-ago period. Three companies posted losses: one saw its losses narrow, one reported higher losses versus Q2 2025, and one turned to a loss compared to a profit in Q2 2025. <table align="center" border="1" cellpadding="0" cellspacing="0" dir="ltr" width="100%"> <tbody> <tr > <td colspan="6" > Quarterly aggregate net profit trend for DFM-listed companies – AED billion </td> </tr> <tr > <td > Period </td> <td > Local companies (excluding foreign companies)* </td> <td > Change % </td> <td colspan="2" > DFM </td> <td > Change % </td> </tr> <tr > <td colspan="6" > 2025 </td> </tr> <tr > <td > Q1 </td> <td > 21.36 </td> <td colspan="2" > +11% </td> <td > 30.61 </td> <td > +22% </td> </tr> <tr > <td > Q2 </td> <td > 23.36 </td> <td colspan="2" > (5%) </td> <td > 27.94 </td> <td > (22%) </td> </tr> <tr > <td > Q3 </td> <td > 28.98 </td> <td colspan="2" > +32% </td> <td > 32.07 </td> <td > +41% </td> </tr> <tr > <td > Q4 </td> <td > 27.48 </td> <td colspan="2" > +11% </td> <td > 21.84 </td> <td > +13% </td> </tr> <tr > <td colspan="6" > 2026 </td> </tr> <tr > <td > Q1 </td> <td > 24.41 </td> <td colspan="2" > +14% </td> <td > 36.56 </td> <td > +19% </td> </tr> <tr > <td > Q2 </td> <td > 24.47 </td> <td colspan="2" > +5% </td> <td > 22.46 </td> <td > (20%) </td> </tr> </tbody> </table> <div class="ckeCaption" >*Aggregate profits excluding private joint-stock companies and real estate investment trusts.</div> <div ></div> <div >By sector: The banking sector contributed the largest share of aggregate profits on DFM in Q2 2026, retaining its position as the top sector by total market profit for a second consecutive quarter, with a 46% contribution to DFM’s aggregate profits. Sector profits rose 5% quarter-on-quarter, driven by profit growth at four out of six banks in the study group, led by Mashreqbank with a 26% rise over Q2 2025, reflecting an 11% increase in total operating income and a reversal of impairment provisions of AED 77.8 million compared to a charge of AED 246.3 million at the end of Q2 2025.</div> <div ></div> <div >The real estate sector was again the second-largest by profit in Q2, with a contribution of 28% to DFM’s aggregate profit. Sector earnings rose 20% to AED 6.88 billion from AED 5.73 billion in Q2 2025, supported by broad-based profit growth across sector companies.</div> <div ></div> <div >The utilities sector ranked third by market-wide profits, with an 11% contribution, despite a slight profit decline year-on-year due to a 29% decrease in Tabreed’s earnings.</div> <div ></div> <div >The industrial sector maintained fourth position by profit size, contributingapproximately 5% of aggregate market profits despite a 24% YoY earnings decline. This was largely driven by a 75% drop in Air Arabia’s profit, attributed to a 23% decrease in passenger numbers following reduced operational capacity due to continued regional conflict</div> <div ></div> <div >The telecom sector advanced to the fifth spot by profit size, up from sixth in Q2 2025, contributing 3% of total market profit as DU’s earnings rose 10% YoY.</div> <table align="center" border="1" cellpadding="0" cellspacing="0" dir="ltr" width="100%"> <tbody> <tr > <td colspan="7" > Comparison of aggregate profits by DFM sector – AED mln </td> </tr> <tr > <td > Current rank </td> <td > Previous rank </td> <td > Sector </td> <td > Q2 2025 </td> <td > Q2 2026 </td> <td > Change </td> <td > Contribution (%) </td> </tr> <tr > <td > 1 </td> <td > 1 </td> <td > Banks </td> <td > 10,808.6 </td> <td > 11,352.3 </td> <td > +5% </td> <td > 46% </td> </tr> <tr > <td > 2 </td> <td > 2 </td> <td > Real estate activities </td> <td > 5,731.7 </td> <td > 6,883.1 </td> <td > +20% </td> <td > 28% </td> </tr> <tr > <td > 3 </td> <td > 3 </td> <td > Public utilities </td> <td > 2,672.8 </td> <td > 2,659.2 </td> <td > (1%) </td> <td > 11% </td> </tr> <tr > <td > 4 </td> <td > 4 </td> <td > Manufacturing </td> <td > 1,461.8 </td> <td > 1,117.0 </td> <td > (24%) </td> <td > 5% </td> </tr> <tr > <td > 5 </td> <td > 6 </td> <td > Telecommunications </td> <td > 726.8 </td> <td > 797.8 </td> <td > +10% </td> <td > 3% </td> </tr> <tr > <td > 6 </td> <td > 7 </td> <td > Consumer goods </td> <td > 676.2 </td> <td > 607.8 </td> <td > (10%) </td> <td > 2% </td> </tr> <tr > <td > 7 </td> <td > 8 </td> <td > Insurance </td> <td > 412.4 </td> <td > 483.6 </td> <td > +17% </td> <td > 2% </td> </tr> <tr > <td > 8 </td> <td > 5 </td> <td > Financial services </td> <td > 772.8 </td> <td > 433.5 </td> <td > (44%) </td> <td > 2% </td> </tr> <tr > <td > 9 </td> <td > 9 </td> <td > Consumer services </td> <td > 87.2 </td> <td > 105.6 </td> <td > +21% </td> <td > 0.4% </td> </tr> <tr > <td > 10 </td> <td > 10 </td> <td > Materials </td> <td > 10.9 </td> <td > 33.7 </td> <td > +210% </td> <td > 0.1% </td> </tr> <tr > <td colspan="3" > Total </td> <td > 23,361.2 </td> <td > 24,473.6 </td> <td > +5% </td> <td > 100% </td> </tr> </tbody> </table> <div > Net profits of the 10 largest companies on the market by profit size accounted for about 88% of the aggregate net profit of listed companies during Q2 2026. These companies saw almost across-the-board growth in performance compared to Q2 2025, with nine companies reporting higher profits and one company reporting a decline. </div> <div >Top 10 companies by profit in Q2 2026 (AED million)</div> <table align="center" border="1" cellpadding="0" cellspacing="0" dir="ltr" width="100%"> <tbody> <tr> <td> Period </td> <td> Q2 2025 </td> <td> Q2 2026 </td> <td> Change </td> <td> Reason for increase/decrease </td> </tr> <tr> <td> Emirates NBD </td> <td> 6,301.0 </td> <td> 6,416.0 </td> <td> +2% </td> <td> Total operating income rose 12% to AED 13.53 billion compared to AED 12.06 billion. </td> </tr> <tr> <td> Emaar Properties </td> <td> 3,370.6 </td> <td> 3,672.6 </td> <td> +9% </td> <td> Revenue rose 18%; net finance income increased 5%; share of profit from associates and joint ventures jumped 252%. </td> </tr> <tr > <td > Emaar Development Co. </td> <td > 1,837.8 </td> <td > 2,638.9 </td> <td > +44% </td> <td > Revenue up 32%, net finance income up 22%, share of results from joint ventures rose to 314%. </td> </tr> <tr > <td > Dubai Electricity and Water Authority (DEWA) </td> <td > 2,257.6 </td> <td > 2,289.0 </td> <td > +1% </td> <td > General and administrative expenses up 33%, net movement in expected credit losses for deferred accounts up 181%. </td> </tr> <tr > <td > Mashreqbank </td> <td > 1,648.0 </td> <td > 2,072.1 </td> <td > +26% </td> <td > Total operating income up 11%. Recorded reversal of credit impairment provisions of AED 77.8 million, compared to provisions of AED 246.3 million. </td> </tr> <tr > <td > Dubai Islamic Bank </td> <td > 1,858.0 </td> <td > 1,855.9 </td> <td > (0.1%) </td> <td > Credit provisions rose 33%. </td> </tr> <tr > <td > Commercial Bank of Dubai </td> <td > 867.2 </td> <td > 885.6 </td> <td > +2% </td> <td > Credit provisions fell 17%. </td> </tr> <tr > <td > Emirates Integrated Telecommunications Company (du) </td> <td > 726.8 </td> <td > 797.8 </td> <td > +10% </td> <td > Revenue increased 5%, employee expenses fell 4%, and administrative expenses dropped 14%. </td> </tr> <tr > <td > Dubai Investments </td> <td > 331.3 </td> <td > 471.1 </td> <td > +42% </td> <td > Revenue climbed 10%, profit from the sale of investments jumped 278%, and net finance costs fell 28%. </td> </tr> <tr > <td > TECOM Group </td> <td > 376.6 </td> <td > 401.3 </td> <td > +7% </td> <td > Revenue increased 11%, while selling and marketing expenses declined 38%. </td> </tr> </tbody> </table> <div > By contrast, <a href="https://www.argaam.com/ae-ar/companies/dfm/al-sagr-insurance/overview" target="_blank">Al Sagr National Insurance</a> reported the largest loss at AED 41.5 million, followed by ALEC Holdings. </div> <table align="center" border="1" cellpadding="0" cellspacing="0" dir="ltr" width="100%"> <tbody> <tr > <td colspan="4" > Largest companies by losses – AED million </td> </tr> <tr > <td > Period </td> <td > Q2 2025 </td> <td > Q2 2026 </td> <td > Change </td> </tr> <tr > <td > Al Sagr National Insurance </td> <td > (11.7) </td> <td > (41.5) </td> <td > (255%) </td> </tr> <tr > <td > ALEC Holdings </td> <td > 122.9 </td> <td > (16.3) </td> <td > (113%) </td> </tr> <tr > <td > Aman </td> <td > (7.8) </td> <td > (1.1) </td> <td > +86% </td> </tr> <tr > <td > Al Firdous Holdings </td> <td > (0.09) </td> <td > (0.06) </td> <td > +39% </td> </tr> </tbody> </table> <div >Aggregate profits for H1 2026 rose marginally to AED 59.03 billion, compared to AED 58.65 billion in H1 2025. Excluding foreign companies, aggregate profits for local companies jumped 9% to AED 48.89 billion, up from AED 44.72 billion in H1 2025, as shown in the table below:</div> <table align="center" border="1" cellpadding="0" cellspacing="0" dir="ltr" width="100%"> <tbody> <tr > <td colspan="4" > Aggregate profits of DFM in H1 2025/2026 </td> </tr> <tr > <td > Period </td> <td > H1 2025 </td> <td > H1 2026 </td> <td > Change </td> </tr> <tr > <td > Aggregate profits(AED billion) </td> <td > 58.65 </td> <td > 59.03 </td> <td > +1% </td> </tr> <tr > <td > Aggregate local profits, excluding foreign companies(AED billion)* </td> <td > 44.72 </td> <td > 48.89 </td> <td > +9% </td> </tr> </tbody> </table> <div class="ckeCaption" >*Aggregate profits exclude private joint stock companies and real estate investment funds.</div>

Procurement Relevance Gate

PASS — score 22.8/100 — evaluated 2026-08-17 14:37:15

Passed on: capacity_production_disruption, geographic_exposure (score 22.8/100, threshold 20.0).

capacity_production_disruption (weight 12) — matched on "capacity"
geographic_exposure (weight 8) — matched on "1 linked geography"

Initial Signal Assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.

A provisional, automatically-computed reading of this individual Signal, before Event extraction or human review. Not a final rating.

Initial Significance: 2 · Moderate (31.0/100)
Initial Confidence: 2 · Low (31.5/100)
Data sufficiency Whether enough structured evidence exists to trust this Signal's Initial Confidence reading. 'Sufficient' has no cap; 'Partial' and 'Insufficient' cap Confidence until more evidence is available; 'Not Assessed' means the Signal did not pass the Relevance Gate.: Partial
Strongest contributor: Procurement Impact
Limiting factor: Geographic Breadth

Initial Significance Moderate (31.0/100). Strongest contributor: Procurement Impact (21.0/30 points). Limiting factor: Geographic Breadth (0.0/10 points). Initial Confidence Low (31.5/100, data sufficiency: Partial). Strongest contributor: Source Authority (20.0/40 points). Limiting factor: Corroboration (2.5/25 points).

No likely Event type matched; a low contextual baseline was applied.
Entity Criticality data quality warning: all_linked_entities_data_insufficient.
no matched Event type
no actor entities (only attribution/metadata, if any)
no actor content-derived geography
single source only
Entities were mentioned as context or document attribution rather than as actors in the reported development, so they did not increase Initial Confidence.
Only source-level geography metadata was available.
Source metadata did not contribute to Initial Confidence.

Methodology signal_scoring_v1 — calculated 2026-08-17 14:37:16.

‎DFM-listed firms' Q2 profit at AED 24.47B

Summary

Procurement Relevance Gate

Initial Signal Assessment ⓘMore about Initial Signal AssessmentProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.

Initial Signal Assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.