Revenue EBITDA Majid Al Futtaim Holding LLC Consolidated Financials (USDmn) MAJID AL FUTTAIM HOLDING (Rated BBB/BBB) MAJID AL FUTTAIM PROPERTIES MAJID AL FUTTAIM RETAIL VENTURES Shopping Malls Hotels Communities Project Management Mr. Majid Al Futtaim (Founder) Mr. Tariq Al Futtaim MAJID AL FUTTAIM CAPITAL LLC Carrefour Cinemas L&E Finance Fashion Gourmet Gulf (JV) … In addition, the company’s hotel portfolio grew to 13 hotels with the launch of Aloft City Centre Deira in Dubai bringing residents and visitors a one-of-a-kind movie-themed suites experience. Compared to the same period in 2017, revenue was up 15 percent, while EBITDA increased by 11 percent to AED600 million. 19-08-2020 Majid Al Futtaim, a shopping mall developer and retail and leisure pioneer in the region, has posted group revenue of AED17.3 billion ($4.7 billion) and EBITDA of AED1.6 billion for the first half of the year, representing declines of 3% and 27% respectively. The group’s assets increased 7% to approximately AED64 billion, on account of the introduction of IFRS16. “While we continue to make essential investments in talent and technology, I am also encouraged by the progress we are making towards our sustainability agenda, which is allowing us to have a positive influence on the economies, communities and societies where we do business.”. The position is responsible for working closely with the Senior Manger Leasing to market new properties and manage existing ones in order to maximize the leasing opportunities and meet the corporate revenue targets. challenging market conditions and more cost-conscious consumer behaviour across the region. VOX Cinemas strengthened its market share in Saudi Arabia, driving forward its pioneering expansion in the Kingdom with. In line with the newly established Green Finance Framework, the issuance will support the company’s commitment to develop sustainable assets and practices. The 10-year USD 600 million issuance will be used to finance Majid Al Futtaim’s existing and future green projects, including green buildings, renewable energy, sustainable water management, and energy efficiency. Find Out More. Majid Al Futtaim Ventures: Majid Al Futtaim – Ventures, recorded an increase of 16% in both revenue and EBITDA, in the first six months of the year, with revenue standing at AED1.3 billion and EBITDA at AED137 million. Majid Al Futtaim has 42,000 employees across 2 locations. Majid Al Futtaim Retail continues with the expansion of its network, both physically and digitally, leveraging on its strategic partnerships in the last mile delivery space to enhance the customer experience. While revenue was driven by new store openings in Egypt, in particular, EBITDA decreased by 1% to AED603 million compared to the same period in 2018. The Carrefour brand strengthened its footprint with the opening of 7 hypermarkets and 12 supermarkets across the region. EBITDA increased by 2% to AED 3.0 billion, contributing almost 65% of overall group EBITDA. The top 10 competitors average 16,292. The ratings reiterate the company’s credit strengths, resilience of its business model, quality of assets, strong corporate governance and prudent financial management. In 2018, Majid Al Futtaim Retail made significant strides on its digital agenda. Majid Al Futtaim Ventures’ total revenue increased 13% in the first half of 2018 to reach AED 1.1 billion (1.5 billion dirham after adding joint ventures and partners). While revenue was driven by new store openings in Egypt, in particular, EBITDA decreased by 1% to AED603 million compared to the same period in 2018. The company continued to maintain a strong balance sheet with total assets valued at AED 60.4 billion and a net debt of around AED 12.6 billion. Majid Al Futtaim – Retail will open its first Carrefour store in Uganda in H2 2019, providing Ugandan customers with access to international standard retail experiences. The ratings. Our strategy to diversify our offering and geographical presence, as well as our commitment to customer centricity and technology investments has yielded great results.”, Bejjani added, “I’m humbled by the efforts of my fellow MAFers, who worked diligently to ensure the resilience of our business.”. Majid Al Futtaim Ventures: Majid Al Futtaim Ventures’ revenue increased by 15% in 2018 to AED 2.4 billion (AED 3.2 billion including joint ventures and associates). The company remains fully committed to the markets in which it operates whist striving to bring the right product to market at the right time to deliver maximum value for customers and tenants. These positive ratings helped in creating widespread interest from investors when Majid Al Futtaim issued the world’s first benchmark corporate Green Sukuk. Majid Al Futtaim has announced its preliminary and unaudited operational and financial Continue Reading The diverse portfolio of cinemas, leisure and entertainment, fashion, consumer finance, food and beverage and facility and energy management reported an increase in EBITDA of 24% to AED 319 million, driven by cinemas and growth from new sites. Majid Al Futtaim today released its preliminary and unaudited operational and financial results for 2018. Alain Bejjani, Chief Executive Officer of Majid Al Futtaim Holding, commented on the company’s performance: “2018 has been a year of growth for our company, despite the macroeconomic challenges that affected consumer sentiment. Majid Al Futtaim Properties develops, owns and manages shopping malls and hotels throughout the MENA region. Majid Al Futtaim has 42,651 employees and is ranked 1st among it's top 10 competitors. See insights on Majid Al Futtaim including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Overall group revenue increased by 1% to AED17.9 billion and EBITDA increased by 1%, standing at AED2.1 billion, - Increased group revenue by 1% year-on-year to AED17.9 billion- EBITDA increased by 1% to AED 2.1 billion- Maintained ‘BBB’ credit rating in latest reports from Standard & Poor’s and Fitch Ratings- Awarded ‘low risk’ Environmental, Social, and Governance (ESG) rating from Sustainalytics and ‘A’ rating from MSCI- Issued world’s first benchmark corporate Green Sukuk to fund sustainable projects across the group- Increased shopping mall assets to 25 with opening of City Centre Suhar, in Oman, and City Centre Masdar, in Abu Dhabi- Opened 19 new Carrefour stores with a strong focus on Egypt- Drove forward the pioneering expansion of VOX Cinemas in Saudi Arabia, with the launch of 49 new screens- Launched Majid Al Futtaim Retail Business School in the UAE to provide functional, commercial and on-the-job training for Carrefour employees. In total, VOX Cinemas opened 65 new screens across the region during the first half of the year. The United Arab Emirates, of which Dubai is a part, had earlier this year shut malls and cinemas, Majid Al Futtaim’s main source of revenue. In 2018, Majid Al Futtaim commissioned three additional solar power plants in Mall of the Emirates, City Centre Sur and City Centre Al Dhait. Majid Al Futtaim – Ventures, recorded an increase of 16% in both revenue and EBITDA, in the first six months of the year, with revenue standing at AED1.3 billion and EBITDA at AED137 million. Agree with Senior Manager Leasing on objectives. The Company also owns the rights to The LEGO Store and American Girl in the Middle East and operates in the food and beverage industry through a partnership with Gourmet Gulf. Meanwhile, EBITDA spiked by 30% to $113.3m (AED416m) that was driven by growth across Saudi Arabia, Kuwait, and Egypt. EBITDA increased by 30% to AED416 million with growth driven mainly from new sites in Saudi Arabia, Kuwait and Egypt. Majid Al Futtaim, a leading shopping mall, retail and leisure group, reported on Wednesday a seven per cent year-on-year jump in first-half revenue to Dh13.7 billion. Majid Al Futtaim sees stark differences during first half. Majid Al Futtaim owns and operates 25 shopping malls, 13 hotels and four mixed-use communities, with further developments underway in the region. In fact, employees enrolled at Majid Al Futtaim’s School of Analytics and Technology, launched in 2017, have completed 33,000 learning hours, as part of the transformation process. At a corporate level, UAE-based Majid Al Futtaim saw a fall in revenue of 3%, to AED17.3 bn (US$4.7 bn), and a 27% decrease in its EBITDA, to AED1.6 bn (US$435.5m), in the first half of its financial year. Group’s malls had a combined 200m visitor turnout, but hotel numbers disappoint. Majid Al Futtaim’s financial and liquidity position remains strong covering its net financing needs for more than the next three years, through its cash and available committed lines. For more information, refer to our Privacy Policy. Majid Al Futtaim H1 revenue edges down to $4.7bn. The total number of screens under the VOX Cinemas-brand increased to 499 across the region. Currently, five of Majid Al Futtaim shopping malls generate more than 2.900 GWh renewable energy from solar power, saving over 1700 metric tons of CO2 emissions a year - the equivalent of taking 371 cars off the road for one year, saving up to AED1.4 million on energy costs per year. the launch of 49 new screens. Want to be the first to hear about career opportunities at our pioneering company? Carrefour also introduced a number of innovative concepts and services across its network to ensure an effortless customer journey, including Scan and Go and Valet Trolley. The company’s shopping malls welcomed more than 100 million visitors in the first half of the year, while the total occupancy of shopping malls remained strong at 93%. UAE-headquartered retail developer and business conglomerate Majid Al Futtaim Group has reported a 3% year-on-year decline in revenues to $4.7bn (AED17.3bn) in H1 2020 and a 27% drop in EBITDA to $435.5m (AED1.6bn), compared to the first six months of 2019, due … Revenues at Majid Al Futtaim – Ventures reached $762.3m (AED2.8bn) in 2019, with an increase of 17%. Despite a reduction in discretionary spend and basket size, Majid Al Futtaim – Retail recorded flat revenue growth, standing at AED14.6 billion in the first six months of the year. The company’s credit rating has been maintained at ’BBB’ with a stable outlook by both Standard & Poor’s and Fitch Ratings in their most recent reports. VOX Cinemas continued its successful expansion across the region with 52 new screens added to reach 353, including in Egypt, Bahrain and Kuwait where the business strengthened its core presence. Sheikh Mohammed bin Rashid Al Maktoum mediated a settlement between Abdulla Al Futtaim and his rival, cousin Majid Al Futtaim, in 2000 which split the assets, liabilities and operations of the then-larger Al Futtaim Group. The group continued to invest in its people agenda with more than 115,000 hours of training delivered to its employees at the Majid Al Futtaim Leadership Institute. The Majid Al Futtaim Retail Business School was also established in Dubai to provide functional, commercial and on-the-job training for employees, focusing on fresh food, non-food, services and merchandising. The company will also launch a lifestyle rewards programme to provide customers with the opportunity to earn and burn points across the company’s portfolio of brands and assets. © 2021 Majid Al Futtaim. the opening of City Centre Suhar in Oman, and My City Centre Masdar in Abu Dhabi, which is the company’s first shopping mall in Abu Dhabi and the capital’s most sustainable mall. Majid Al Futtaim H1 revenue edges down to $4.7bn. The company improved its liquidity and maturity profile by refinancing USD1.6 billion of medium-term maturities while adding an additional USD900 million via syndicated facilities from regional and international banks. Majid Al Futtaim records Dh35b 2019 revenue. The shopping mall portfolio grew to 25 destinations, with. Of the 600 screens committed to Saudi Arabia by 2023, Majid Al Futtaim has already opened 53. In March 2018, the company issued a USD400 million corporate hybrid to replace its inaugural hybrid issued in 2013, which was redeemed in October 2018. In addition to iconic leisure and entertainment facilities such as Ski Dubai, iFly Dubai and Ski Egypt, among others. During 2019, Majid Al Futtaim further expanded its offering across geographies, while enhancing its digital capabilities and investing in human capital. In total, VOX Cinemas opened 65 new screens across the region during the first half of the year. Majid Al Futtaim’s financial and liquidity position remains strong covering its net financing needs for more than the next three years, through its cash and available committed lines. City Centre Almaza will soon open in East Cairo and is set to become. Majid Al Futtaim operates more than 400 VOX Cinemas screens and 36 Magic Planet family entertainment centres across the region. Majid Al Futtaim Retail: Majid Al Futtaim Retail generated strong revenue growth and finished the year at AED 28.0 billion, an 8% increase compared to 2017, driven by the addition of new stores. The company continues to make progress with its development projects and will be bringing three key shopping malls to market in Oman, UAE and Egypt this year, with the launch of City Centre Suhar, My City Centre Masdar and City Centre Almaza, respectively. Majid Al Futtaim – Retail will continue to open new stores in existing markets, including the addition of 12 new Carrefour stores in Egypt by the end of 2019. During this period, overall group revenue increased by 1% to AED. Dubai-based retail giant Majid Al Futtaim on Wednesday said group revenue grew by 8 percent reaching AED34.6 billion ($9.42 billion) in 2018 compared to the previous year. redefining the shopping landscape with a unique environment for visitors. The hotels business unit focuses on the development and asset management of hotels connected to or close to the company's shopping malls and within its master-planned communities. Majid Al Futtaim Ventures: Majid Al Futtaim – Ventures, recorded an increase of 16% in both revenue and EBITDA, in the first six months of the year, with revenue standing at AED1.3 billion and EBITDA at AED137 million. Majid Al Futtaim’s financial results during H1 2019 were enabled by maintaining strong financial discipline across its portfolio. Revenue from shopping malls increased by 3% and the growth was attributed to lease renewals at higher rates and the impact of opening Mall of Egypt. During the first six months, Carrefour more than doubled the total number of online transactions completed during full year 2018. Revenue increased by 4% and totalled AED15.1 billion, while its EBITDA grew by 18% to AED709 million. In its results, its Retail division was a bright spot, with Majid Al Futtaim Retail reporting a rise in revenue and EBITDA. All rights reserved. Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia. Integrated lifestyle giant Majid Al Futtaim, owner of brands such as VOX Cinemas and Mall of the Emirates announces its green strategy, a commitment to sustainable business and a circular economy . Majid Al Futtaim – Properties registered a decline of 3% in revenue and 1% in EBITDA in the first six months of 2019, standing at AED2.1 billion and AED1.5 billion respectively. Majid Al Futtaim Retail also launched Carrefour’s largest distribution centre in the region, located in Dubai. Assist the Senior Manager Leasing in establishing Leasing Objectives. Majid Al Futtaim – Retail: In the first half of the year, the Carrefour business witnessed strong growth despite the prevailing conditions. During 2018, Majid Al Futtaim continued to pursue investment opportunities to enhance its digital capabilities and deliver a seamless omni-channel customer experience, while expanding its physical footprint. Majid Al Futtaim's revenue is the ranked 1st among it's top 10 competitors. Majid Al Futtaim had said in August its shopping malls business saw a drop in first-half revenue. Company: Majid Al Futtaim. The shopping mall portfolio grew to 25 destinations, with the opening of City Centre Suhar in Oman, and My City Centre Masdar in Abu Dhabi, which is the company’s first shopping mall in Abu Dhabi and the capital’s most sustainable mall. EBITDA increased by 1%, standing at AED2.1 billion, while the group’s increased focus on working capital management and operational excellence resulted in operating cashflow amounting to 115% of EBITDA. In April 2018, VOX Cinemas opened its first multiplex theatre in Riyadh Park shopping mall in Saudi Arabia, following the reintroduction of cinemas in the Kingdom. The company’s shopping malls welcomed more than 100 million visitors in the first half of the year, while the total occupancy of shopping malls remained strong at 93%. Majid Al Futtaim Properties: Majid Al Futtaim Properties registered 1% revenue growth to end the year at AED 4.6 billion. Majid Al Futtaim hotels experienced a decline in revenue per available room (RevPAR) due to current market conditions and reported average occupancy of 75%. 59% of all ticket sales at VOX Cinemas were completed online, compared to 46% during the same period last year, while all tickets in Saudi Arabia were sold online in 2019. The hotels side of the business also took a hit as a result of the closures and reduced demand due to travel restrictions, with occupancy down 41 percent. Majid Al Futtaim also opened five physical stores and three new fulfilment centres during the first six months of the year. He is the owner and president of Majid Al Futtaim Group, which he founded in 1992 after splitting the Al Futtaim empire with his cousin. For more information, refer to our Privacy Policy. © 2021 Majid Al Futtaim. In 2017, Majid Al Futtaim Properties reported a profit of 2.19 billion dirhams ($596.25 million), down 7% on 2016. Al-Futtaim Group employs over 44,000 people and operates eight divisions comprising automotive, electronics, insurance, services, real estate, retail, industries, and overseas. one of the favoured destinations for shopping and entertainment. Net borrowings stand at around AED12.8 billion. Of online transactions completed during full year 2018 account of the year grew! Entertainment centres across the region across geographies, while enhancing its digital and. 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