DFM Company posts net profit of AED 147.1 million in 2022 The Board of Directors recommends a cash dividend of AED 134.7 million and proposes a new fixed dividend policy with a minimum of 50% of the profits annually 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, 31 January 2023: 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-artinfrastructure, 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. -Ends- About Dubai Financial Market: Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari'a-compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company and its shares were listed on 7 March 2007 with the trading symbol (DFM). . Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. URL For further information, please contact: Atef Fathy Vice President- Head of Media & Public Relations Dubai Financial Market Tel: 04-3055334 Email: EMAIL Attachments Original Link Original Document Permalink
Disclaimer DFM - Dubai Financial Market PJSC published this content on 31 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2023 16:37:06 UTC.
Sales 2022 246 M 67,0 M 67,0 M Net income 2022 126 M 34,3 M 34,3 M Net cash 2022 3 965 M 1 080 M 1 080 M P/E ratio 2022 70,5x Yield 2022 0,71% Capitalization 11 274 M 3 070 M 3 070 M EV / Sales 2022 29,7x EV / Sales 2023 27,1x Nbr of Employees 164 Free-Float 19,3% Chart DUBAI FINANCIAL MARKET P.J.S.C.
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Mean consensus OUTPERFORM Number of Analysts 2 Last Close Price 1,41 AED Average target price 1,51 AED Spread / Average Target 6,86%