• The 41.7% jump in net profit echoes the strong improvement in trading value to AED 90 billion
  • DFM’s success as one of the most active markets for IPOs globally underscores the accelerated efforts to implement Dubai’s capital markets’ development strategy
  • The Market Capitalization increased by 41.4% to AED 582 billion
  • Foreign investors contributed 48.7% of trading activity with net purchases of AED 5 billion
  • The DFM attracted 167,332 new investors, bringing its investor base to over 1 million investors from 212 nationalities

Dubai: Dubai Financial Market Company (PJSC) today announced its consolidated results for the fiscal year ending on 31st December 2022, registering an increase of 41.7% in net profit to AED 147.1 million compared to AED 103.8 million in 2021. With a total revenue of AED 351.2 million, up 19% compared to last year’s AED 294.6 million, DFM reins in a successful close to 2022.

In the fourth quarter of 2022, the Company posted a net profit of AED 58.1 million compared to AED 65.7 million in the corresponding period of 2021, while its total revenue of the period reached to AED 113.4 million compared to AED 111.5 million in Q4-2021.

During a Board meeting today, the Board of Directors reviewed and approved the annual results before they are presented for ratification at the Company’s Annual General Meeting, which will be held based on the approval of the Securities and Commodities Authority (SCA).

The Board of Directors also recommended the distribution of a cash dividend of AED 134.7 million, equivalent to 1.68% of the capital and 100% of the total retained earnings available for distribution. Moreover, the Board also resolved to submit a recommendation to the AGM to adopt a new fixed dividend policy, stipulating that the Company annually distributes a minimum of 50% of its net profit as opposed to the current practice of cash dividend every two years.

Profound progress

Commenting on the achievements of 2022, His Excellency, Helal Al Marri, Chairman of DFM Company said, “2022 has been a promising year for DFM. Our results for the fiscal year are a testament to the strength of our Company’s operating model and the profound progress we are making in transforming our business, pursuing new opportunities, and accelerating the development of UAE capital markets. We truly believe that DFM’s state-of-the-art infrastructure, pioneering regulations and dynamic business model will serve as a springboard to drive the Company’s sustained growth and position Dubai as a hotspot for global financial activity.”

“Our relentless focus on our capital markets development strategy has borne fruit, making DFM one of the most active markets globally for new IPOs and listings with the successful listing of 5 IPOs for leading government-related and private companies. We also launched a new general index that provides global best practices for indices and greater transparency for investors. DFM has also intensified its efforts to diversify asset classes with the introduction of trading in crude oil contracts (Micro Oman Crude Oil Futures) and the launch of new equity futures, strengthening its position as one of the leading regional markets in terms of diversification of investment opportunities and asset classes," added HE Helal Al Marri.

Key growth indicators

DFM ended the year on a strong note with trading value increased by 24.5% to AED 90 billion compared to 2021, and the market capitalization of listed securities increased by 41.4% to AED 582 billion. The DFM General Index also advanced by 4.4%. Foreign investors maintained their strong presence in 2022, accounting for 48.7% of DFM’s trading value with net purchases amounting to AED 5 billion. meanwhile, their share of the market capitalization was 19% at the end of the year.

Over the past year, DFM has attracted 167,332 new investors. The 23 times jump compared to 2021 brought the total number of DFM investor base to over 1 million investors from 212 nationalities, in a clear indication on the success of DFM’s digital onboarding journey.