Showing 9 of 14
  • UAE Flag
    FIRST LOOK NOTES
    11 Feb 2026
    Tecom Group
    BUY
    AED 4.05
    AED 4.90
    +20.99%

    UAE Equity Research - Tecom Group 4Q25 - First Look Note

    Funds from Operations (FFO) rose by 19% YOY to AED 2 Bn in 2025, supported by stronger performance from income-generating assets and improved collection efficiency.
  • UAE Flag
    EARNINGS CALL INSIGHT
    10 Feb 2026
    Tecom Group
    BUY
    AED 4.15
    AED 4.90
    +18.07%

    UAE Equity Research - Tecom Group 4Q25 - Earnings Call Insight

    Tecom’s revenue grew 15.7% YOY to AED 745 Mn in 4Q25 due to higher occupancy, healthy rent escalation and additional revenue from new acquisitions & developments. Direct cost increased 4.4% YOY to AED 252 Mn in 4Q25.
  • UAE Flag
    FIRST LOOK NOTES
    07 Nov 2025
    Tecom Group
    BUY
    AED 3.27
    AED 3.90
    +19.27%

    UAE Equity Research - Tecom Group 3Q25 - First Look Note

    The Company’s revenue grew at a healthy pace in 9M25, owing to a rise in rental rates, high occupancy levels, and income from strategic assets from the previous year.
  • UAE Flag
    EARNINGS CALL INSIGHT
    07 Nov 2025
    Tecom Group
    BUY
    AED 3.27
    AED 3.90
    +19.27%

    UAE Equity Research - Tecom Group 3Q25 - Earnings Call Insight

    Tecom’s revenue grew 18.5% YOY to AED 724 Mn in 3Q25 driven by increased occupancy across all business segments, higher rental rates and portfolio expansion, while direct cost increased 12.6% YOY to AED 261 Mn. Gross profit rose 22.2% YOY to AED 463 Mn in 3Q25 with a 192 bps YOY increase in gross profit margin to 63.9% despite higher direct costs.
  • UAE Flag
    FIRST LOOK NOTES
    11 Aug 2025
    Tecom Group
    BUY
    AED 3.35
    AED 3.90
    +16.42%

    UAE Equity Research - TECOM Group 2Q25 - First Look Note

    The Company’s revenue grew at a healthy pace in 1H25, owing to a rise in rental rates, high occupancy levels, and income from strategic assets from the previous year. Funds from Operations (FFO) experienced a 17% YOY growth to AED 984 Mn in 1H25 due to improved revenue quality.
  • UAE Flag
    EARNINGS CALL INSIGHT
    06 Aug 2025
    Tecom Group
    BUY
    AED 3.35
    AED 3.90
    +16.42%

    UAE Equity Research - Tecom Group 2Q25 - Earnings Call Insight

    Tecom’s revenue grew 21.5% YOY to AED 709 Mn in 2Q25, while direct cost increased 23.2% YOY to AED 235 Mn in 2Q25. Gross profit rose 20.7% YOY to AED 474 Mn in 2Q25 with a 46 bps YOY decline in gross profit margin to 66.8% due to higher direct costs.
  • UAE Flag
    FIRST LOOK NOTES
    07 May 2025
    Tecom Group
    BUY
    AED 3.08
    AED 3.55
    +15.26%

    UAE Equity Research - TECOM Group 1Q25 - First Look Note

    Dubai Internet City contributed 65% of Dubai’s tech sector GDP, according to an Impact Assessment study with Accenture, launched during Step Dubai in February, where the district served as Strategic Partner.
  • UAE Flag
    FIRST LOOK NOTES
    19 Feb 2025
    Tecom Group
    HOLD
    AED 3.19
    AED 3.45
    +8.15%

    UAE Equity Research - TECOM Group 4Q24 - First Look Note

    Tecom has a total of 153 buildings commercially leased, coupled with 1,140 warehouses and 92 worker accommodations, along with 846 leased land plots. The Company is launching a grade-A office in phase 3 at Dubai Internet City, along with the acquisition of two existing grade-A office buildings for compensation of AED 420 Mn to add 334K SQFT of GLA in the premium segment.
  • UAE Flag
    EARNINGS CALL INSIGHT
    14 Feb 2025
    Tecom Group
    ACCUMULATE
    AED 3.05
    AED 3.45
    +13.11%

    UAE Equity Research - Tecom Group 4Q24 - Earnings Call Insight

    Tecom’s revenue grew 10.8% YOY to AED 643 Mn in 4Q24, while direct cost increased 21.2% YOY to AED 241 Mn in 4Q24. Gross profit rose 5.4% YOY to AED 402 Mn in 4Q24 with a 321 bps YOY decline in gross profit margin to 62.5% due to higher direct cost.

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