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MarketScreener Homepage  >  Equities  >  DUBAI FINANCIAL MARKET  >  Dubai Financial Market (DFM) P.J.S.C    DFM   AED000901010

DUBAI FINANCIAL MARKET (DFM) P.J.S.C

(DFM)
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Union Properties Public Joint Stock : slips into Dh218.8m loss

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02/23/2020 | 11:59pm EST

Union Properties slipped into losses totalling Dh218.8 million against net profits of Dh62.32 million a year ago. Bank financing costs related to subsidiaries’ loans “contributed significantly” to achieving net losses last year, “which are currently being settled,” the Dubai headquartered developer said in a statement issued to Dubai Financial Market. The company instead focussed on the silver lining – that despite the “stagnation” in the real estate sector, the “Group was able to achieve revenues exceeding half a billion dirhams”.

Indeed, revenues were at Dh535.5 million, through down from Dh762.08 million in 2018.

It was last month that Union Properties issued a partial turnaround plan, built around a Dh200 million expansion of Dubai Autodrome. It also envisaged turning the destination into a standalone company. The developer added that it was negotiating a MoU with China National Chemical Engineering Ltd. for the expansion. No timeline had been specified. Two other subsidiaries were also to convert into private companies.

While there was speculation about even higher losses for 2019, shareholders will not be breathing easy. For that, Union Properties Board of Directors will need to show proof of concept that its plans will indeed change the fortunes of the company.

© Pakistan Press International, source Asianet-Pakistan

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Financials (AED)
Sales 2020 492 M
EBIT 2020 195 M
Net income 2020 247 M
Finance 2020 3 113 M
Yield 2020 2,71%
P/E ratio 2020 28,7x
P/E ratio 2021 24,6x
EV / Sales2020 7,65x
EV / Sales2021 5,95x
Capitalization 6 876 M
Chart DUBAI FINANCIAL MARKET (DFM) P.J.S.C
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Dubai Financial Market (DFM) P.J.S.C Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 1,00  AED
Last Close Price 0,86  AED
Spread / Highest target 37,2%
Spread / Average Target 15,7%
Spread / Lowest Target -6,98%
EPS Revisions
Managers
NameTitle
Essa Abdulfattah Kazim Al-Mulla Chairman
Hassan Abdul Rahman Al-Serkal Chief Operating Officer, EVP & Head-Operations
Maryam Mohammed Fikri COO, EVP, Head-Clearing, Settlement & Depository
Ali Al-Hashimi Executive VP & Head-Financial Services Division
Rashed Hamad Rahma Al-Shamsi Vice Chairman
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