Depa : FY 2024 Financial Statements

About this update from Depa Plc

[{"type":"text","content":"\n DEPA PLC AND ITS SUBSIDIARIES\n DIRECTORS' REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024\n Page(s)\n \n \n DIRECTORS' REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024\n \n CONTENTS\n \n \n Directors' report\n \n \n 1 - 4\n \n \n Consolidated statement of profit or loss\n \n \n 5\n \n \n Consolidated statement of comprehensive income\n \n \n 6\n \n \n Consolidated statement of financial position\n \n \n 7\n \n \n Consolidated statement of changes in equity\n \n \n 8\n \n \n Consolidated statement of cash flows\n \n \n 9\n \n \n Notes to the consolidated financial statements\n \n \n 10 - 44\n \n \n Independent auditor's report\n \n \n 45 - 51\n \n The Board of Directors present their report and audited consolidated financial statements of Depa PLC (the \"Company\") and its subsidiaries (together referred to as the \"Group\" or \"Depa\") for the year ended 31 December 2024.\n \n 1 Principal activities\n \n The Group specialises in the luxury fit-out sector, focusing primarily on hospitality, commercial and residential property developments and also includes the airport, retail, yacht, theming and specialist fit-out sectors. Additionally, the Group is a provider of manufactured products, with a primary focus on customised furniture, fixtures and equipment, much of which is produced in its in-house facilities.\n \n 2 Operational and financial review and results\n \n \n Operational review\n \n \n The Group's performance in 2024 has achieved significant turnaround, reporting a stronger profit, after experiencing losses in 2023.\n \n \n \n Continued increased focus by the key business units in the Kingdom of Saudi Arabia has resulted in the Group securing a number of new wins in the Kingdom.\n \n \n Vedder\n \n \n Vedder, the Group's European key business unit, specialising in the superyacht, residence fit-out and private jet market, generated revenue of AED 394.5 million and profit of AED 20.5 million, a marginal decrease in revenue of AED 2.8 million or 0.7% on 2023 (AED 397.3 million) and an increase in profit of AED 2.1 million or 11% on 2023 (AED 18.4 million).\n \n \n Vedder ended the year with AED 260.0 million worth of new project wins. Vedder successfully completed and handed over a number of projects during the year, including both the interior and exterior ...

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