Press releases, Reports & Disclosures for TECOM GROUP P.J.S.C.

TECOM Group has reported a 20% year-on-year (YoY) increase in net profit for the first nine months of 2023, reaching AED 768 million ($209 million). Revenues rose by 7% YoY to AED 1.6 billion, driven by high occupancy levels across the company's portfolio. EBITDA increased by 14% YoY to AED 1.2 billion, with the EBITDA margin expanding to 78%. The company's Q3 2023 net profit also rose by 34% YoY to AED 283 million. TECOM Group has announced plans to develop new storage and logistics facilities in Dubai Science Park.

The document is a review report and condensed interim consolidated financial statements of TECOM Group PJSC and its subsidiaries. It covers the financial performance and activities of the company for the nine-month period ending on 30th September 2023.

On 31 October 2023, the Board of Directors of TECOM Group PJSC held a meeting where they reviewed and approved the Condensed Interim Consolidated Financial Statements for the nine-month period ending on 30 September 2023. They also discussed regular matters and other business-related topics. The information was disclosed in a letter to Mr. Hamad Ali, the CEO of Dubai Financial Market.