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Dubizzle Group reports strong UAE profitability ahead of DFM listing
Gulf Business· 2025-10-20 09:53
Core Insights - Dubizzle Group, a leading digital classifieds marketplace in the MENA region, is preparing for its listing on the Dubai Financial Market (DFM) and has reported strong growth and profitability in the UAE, its primary market [2][7] Financial Performance - In the first half of 2025, the UAE market generated US$105 million in adjusted revenue, representing 89% of the Group's total revenue [4] - The UAE segment achieved $48 million in adjusted EBITDA with a 46% margin, an increase from $25 million (31% margin) in H1 2024 [5] - Adjusted net profit rose to $43 million (41% margin) from $21 million (26% margin) year-over-year, indicating effective cost management and strong cash generation [5] Market Position - Dubizzle Group maintains a dominant position in the UAE's property and automotive classifieds sectors through its platforms, dubizzle and Bayut, connecting millions of users with real estate agencies and car dealerships [3] Strategic Insights - CEO Imran Ali Khan highlighted the company's asset-light model, which allows for high profit margins and significant cash flow conversion, with 85% adjusted free cash flow conversion in H1 2025 [6] - Prosus N.V., the largest shareholder, has shown confidence in Dubizzle Group's performance by committing $100 million to the upcoming IPO [6]