Dar Global (DAR) H1 2026 earnings summary

Executive summary

• Achieved 66% year-over-year revenue growth to $258.0m and 73% EBITDA growth to $46.3m for H1 2026, leveraging a diversified, asset-light business model and a high-quality international portfolio.

• Expanded global presence to 14 countries and 9 cities, with a portfolio GDV of $23bn as of 30 June 2026.

• Formed strategic brand partnerships with luxury names such as Trump, Lamborghini, Missoni, Elie Saab, and Aston Martin.

• Major project launches included Rayana at Wadi Safar (Riyadh), Trump Plaza Jeddah, and Padel Living Residences, expanding the luxury real estate portfolio.

• Secured a $250m syndicated term loan, strengthening liquidity and supporting new developments.

Financial highlights

• Revenue rose 66% year-over-year to $258.0m for H1 2026, up from $155.4m.

• EBITDA increased 73% year-over-year to $46.3m, with EBITDA margin improving to 18% from 17%.

• Gross profit grew 85% to $87.7m, with gross margin rising to 34% from 31%.

• Net profit for the period surged 149% to $30.4m, representing a 12% margin and EPS of $0.18.

• Net asset value reached $613.3m, up from $584.4m at year-end 2025, with NAV per share at $3.41.

Outlook and guidance

• Entering H2 2026 with strong liquidity, a healthy sales backlog, and substantial escrow balances.

• Focus on delivering existing commitments, disciplined capital management, and expanding GDV in existing and new markets.

• Plans to phase launches and mobilization in line with market conditions.

• Will pursue opportunities in both existing and new markets, including strategic acquisitions and partnerships.

• Geopolitical and macroeconomic uncertainties remain key considerations, with a capital-light model providing flexibility.