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Dubai Aerospace Enterprise (DAE), one of the world’s largest aircraft lessors, reported a 72% increase in profit for the full year in 2022.
Profit before exceptional items for the year ended December 31, 2022 reached $258.6 million, from $150 million in the preceding year, according to a disclosure on Nasdaq Dubai on Monday.
However, total revenue for the period reached $1.137 billion, down by 8% from $1.238 billion in 2021.
Adjusted EBITDA for the full year reached more than $1.07 billion, also down from $1.156 billion in the previous year.
The aircraft lessor’s total value of assets rose to $12.7 billion at the end of 2022, from $12.6 billion in the same period in 2021.
(Writing by Cleofe Maceda; editing by Brinda Darasha)
