Dubai - Mubasher: Gulf Navigation Holding shifted to net profits after tax valued at AED 4.56 million in the first nine months (9M) of 2025, compared with net losses after tax of AED 23.56 million in 9M-24.

The basic earnings per share (EPS) hit AED 0.006 as of 30 September 2025, versus a loss per share of AED 0.029 in 9M-24, according to the financial results.

Revenues surged by 35% year-on-year (YoY) to AED 81.65 million in 9M-25 from AED 60.44 million.

Total assets reached AED 1.29 billion in the January-September 2025 period when compared with AED 739.60 million at the end of December 2024.

Financial Results for Q3

During the third quarter (Q3) of 2025, the profits after tax of Gulf Navigation reached AED 4.10 million, an annual jump from AED 1.13 million.

The revenues increased to AED 27.29 million in Q3-25 from AED 22.97 million in Q3-24, whereas the basic EPS grew to AED 0.005 from AED 0.001.

Ali Abouda, the CFO of Gulf Navigation, stated: “The return to profitability and the substantial strengthening of our balance sheet position us well for the next phase of strategic growth.”

“The successful issuance of AED 500 million in Mandatory Convertible Bonds features the confidence of our shareholders and enhances our liquidity as we progress toward completing the Brooge acquisition,” he added.

In the first half (H1) of 2025, Gulf Navigation recorded AED 463,000 in net profits after tax, against net losses of AED 24.69 million in H1-24.