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The Dubai Financial Market Company (PJSC) reported a 41.7% increase in net profit for the fiscal year ending December 31, 2022, reaching AED147.1 million compared to AED103.8 million in 2021.
The company also reported a 19% increase in total revenue, reaching AED351.2 million. In the fourth quarter of 2022, the company posted a net profit of AED58.1 million and total revenue of AED113.4 million. The Board of Directors approved the annual results and recommended a cash dividend of AED134.7 million, equivalent to 1.68% of the capital. The Board also recommended a new fixed dividend policy, stipulating that the company distributes a minimum of 50% of its net profit annually.
Helal Al Marri, Chairman of DFM Company, commented on the company's achievements in 2022, stating that the year was promising for DFM. He attributed the strong results for the fiscal year to the strength of the company's operating model and progress made in transforming the business, pursuing new opportunities, and developing UAE capital markets.
Al Marri believes that DFM's modern infrastructure, innovative regulations, and dynamic business model will drive sustained growth and position Dubai as a hub for global financial activity.
Helal Al Marri continued, saying that DFM's focus on capital market development strategy has produced results, making DFM a leader in new IPOs and listings with 5 successful IPOs of government-related and private companies. He also highlighted the launch of a new general index that provides best practices for indices and greater transparency for investors.
Al Marri also mentioned DFM's efforts to diversify asset classes with the introduction of crude oil contract trading (Micro Oman Crude Oil Futures) and the launch of new equity futures, positioning DFM as one of the leading regional markets in terms of investment opportunities and asset class diversity.
DFM had a strong close to the year with a 24.5% increase in trading value to AED90 billion compared to 2021, and a 41.4% increase in market capitalization of listed securities to AED582 billion. The DFM General Index also rose by 4.4%. Foreign investors accounted for 48.7% of DFM's trading value with net purchases of AED5 billion and held 19% of the market capitalization at the end of the year. DFM attracted 167,332 new investors in the past year, a 23 times increase from 2021, bringing the total number of investors to over 1 million from 212 nationalities, showcasing the success of DFM's digital onboarding.
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