DAE Reports Record Full Year 2015 Financial Results
Net Income of US$610.4 million (AED 2,243 million) including gain on sale of StandardAero
Dubai, U.A.E., 04 April 2016 – Dubai Aerospace Enterprise (DAE) Ltd. reported Net Income for 2015 of US$610.4 million (AED 2,243 million), an increase of 283% from US$159.5 million (AED 586 million) in 2014. Revenue for full year 2015 increased to US$408.0 million (AED 1,499 million) from US$389.5 million (AED 1,431 million) for full year 2014. Revenues for 2014 are restated to exclude the results of StandardAero, which was sold in July 2015.
DAE Managing Director Khalifa H. AlDaboos said: “2015 was an important year for DAE. The sale of StandardAero in July 2015 marked the first step in reallocating our capital towards building a world-class aerospace footprint anchored in Dubai. The DAE Capital division continued its growth trajectory in 2015. The net book value of the portfolio at year end 2015 grew to approximately US$4 billion (AED 14.5 billion). As of December 2015, DAE Capital has firm commitments to acquire 23 additional aircraft. The team was further augmented in 2015 to support the anticipated future growth of the business.”
Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aerospace company headquartered in Dubai. More information can be found on the company’s web site at www.dubaiaerospace.com.