Showing 9 of 9
  • UAE Flag
    FIRST LOOK NOTES
    10 Feb 2025
    Dubai Financial Market (DFM)
    ACCUMULATE
    AED 1.37
    AED 1.50
    +9.49%

    UAE Equity Research - Dubai Financial Market PJSC (DFM) 4Q24 - First Look Note

    DFM's revenue from trading commission fees rose 42.3% YOY to AED 94 Mn in 4Q24. In contrast, clearing and depository fees fell from AED 60 Mn in 4Q23 to AED 5 Mn in 4Q24. Investment and divided income reduced 13.1% YOY and 22.2% YOY to AED 43 Mn and AED 3 Mn, respectively in 4Q24.
  • UAE Flag
    EARNINGS CALL INSIGHT
    06 Feb 2025
    Dubai Financial Market (DFM)
    HOLD
    AED 1.40
    AED 1.50
    +7.14%

    UAE Equity Research - Dubai Financial Market PJSC (DFM) 4Q24 - Earnings Call Insight

    Dubai Financial Market (DFM) reported an 18.9% YOY decline in operating income, reaching AED 108 Mn in 4Q24 attributable to a fall in the clearing, settlement & depository fees partially offset by a strong growth in trading commission fees. While brokers fees, listing & market data fees, and other fees remained at remained largely unchanged in 4Q24 compared to 4Q23.
  • UAE Flag
    FIRST LOOK NOTES
    14 Nov 2024
    Dubai Financial Market (DFM)
    BUY
    AED 1.33
    AED 1.50
    +12.78%

    UAE Equity Research - Dubai Financial Market PJSC (DFM) 3Q24 - First Look Note

    DFM's revenue from Trading commission fees decreased by 34.6% YOY to AED 46 Mn in 3Q24. In contrast, clearing and depository fees experienced remarkable growth, more than tripling to AED 37 Mn in 3Q24.
  • UAE Flag
    FIRST LOOK NOTES
    12 Oct 2024
    Dubai Financial Market (DFM)
    BUY
    AED 1.23
    AED 1.50
    +21.95%

    Surge in profitability is driven by strong investment income and cost efficiency

    DFM's revenue rose 23.1% YOY to AED 158 Mn owing to growth in income from operation and investment income.
  • UAE Flag
    FIRST LOOK NOTES
    03 May 2024
    Dubai Financial Market (DFM)
    BUY
    AED 1.36
    AED 1.59
    +16.91%

    Higher income from investment activity and trading commission fees drove profitability

    Dubai Financial Market PJSC (“DFM/the Company”) net profit grew from AED 36 Mn in 1Q23 to AED 90 Mn in 1Q24, significantly higher than our estimate of AED 43 Mn.
  • UAE Flag
    FIRST LOOK NOTES
    05 Feb 2024
    Dubai Financial Market (DFM)
    BUY
    AED 1.33
    AED 1.59
    +19.55%

    Higher depository fee and investment income drove top-line

    Dubai Financial Market PJSC (“DFM/the Company”) net profit grew from AED 59 Mn in 4Q22 to AED 130 Mn in 4Q23, higher than our estimate of AED 108 Mn.
  • UAE Flag
    FIRST LOOK NOTES
    15 Nov 2023
    Dubai Financial Market (DFM)
    BUY
    AED 1.38
    AED 1.59
    +15.22%

    Strong growth in trading commission fees and investment income drove top-line

    Dubai Financial Market PJSC (“DFM/the Company”) net profit more than doubled to AED 74 Mn in 3Q23 compared to AED 26 Mn in 3Q22, in line with our estimate of AED 72 Mn.
  • UAE Flag
    FIRST LOOK NOTES
    14 Aug 2023
    Dubai Financial Market (DFM)
    HOLD
    AED 1.64
    AED 1.57
    -4.27%

    Strong growth in traded value and investment income drove top-line

    Dubai Financial Market PJSC (“DFM/the Company”) net profit more than doubled to AED 77 Mn in 2Q23 compared to AED 36 Mn in 2Q22, higher than our estimate of AED 45 Mn.
  • UAE Flag
    FIRST LOOK NOTES
    01 Mar 2023
    Dubai Financial Market (DFM)
    BUY
    AED 1.41
    AED 1.62
    +14.89%

    Strong growth in trading and commission fees boosted profitability

    Dubai Financial Market PJSC (“DFM/the Company”) net profit de-clined 11.1% YOY to AED 59 Mn in 4Q22, higher than our estimate of AED 37 Mn.

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