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Emirates Group ‘delivers a new record performance’

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The Emirates Group on May 13 released its 2023-24 Annual Report, hitting new record profit, revenue, and cash balance levels, an Emirates press release said.

Extracts of the release: ‘Both Emirates and dnata saw significant profit and revenue increases in 2023-24, as the Group expanded its operations around the world to meet strong customer demand for its high-quality products and services.

‘For the financial year ended 31 March 2024, the Emirates Group posted a record profit of AED 18.7 billion (US$ 5.1 billion), up 71% compared with an AED 10.9 billion (US$ 3.0 billion) profit for last year. The Group’s revenue was AED 137.3 billion (US$ 37.4 billion), an increase of 15% over last year’s results. The Group’s cash balance was AED 47.1 billion (US$ 12.8 billion), the highest ever reported, up 11% from last year.

‘Combined Group profits for the last 2 years, at AED 29.6 billion, surpass pandemic losses of AED 25.9 billion during 2020-2022.

‘Sheikh Ahmed bin Saeed Al Maktoum, chairman and Chief Executive, Emirates airline and Group said: “The Emirates Group has once again raised the bar to deliver a new record performance. Throughout the year, we saw high demand for air transport and travel related services around the world, and because we were able to move quickly to deliver what customers want, we achieved tremendous results. We are reaping the benefit of years of non-stop investments in our products and services, in building strong partnerships, and in the capabilities of our talented people.

“Huge credit is also due to the UAE’s visionary leaders, especially HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. It is thanks to their leadership and the nation’s progressive policies that the Emirates Group is able to flourish. Both Emirates and dnata have forged successful business models leveraging Dubai’s unique advantages, in turn generating enormous value for Dubai and the communities they serve around the world.”

‘Sheikh Ahmed added: “The Group’s excellent financial standing today places us in a strong position for future growth and success. It enables us to invest to deliver even better products, services, and more value to our customers and stakeholders.”

‘Many major projects are already underway, including: a multibillion-dollar aircraft fleet and cabin renewal programme; new catering, cargo, and ground handling capabilities; advanced technologies to support the Group’s operations; expanded training and people development programmes; and initiatives to progress the Group’s sustainability agenda.’

The full 2023-24 Annual Report of the Emirates Group – comprising Emirates, dnata and their subsidiaries – is available at: www.theemiratesgroup.com/annualreport.



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NSB felicitates the performance and commitment of Grade 5 students

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The student, who obtained the highest marks in the Sinhala medium, at the Grade 5 Scholarship Examination – 2026, was felicitated by the National Savings Bank (NSB), recently, at the NSB Head Office, under the Hapan Pranama Scholarship Program -2026, organized by the Bank.

The Chairman of the Bank, Dr. Harsha Cabral PC, the Actg. General Manager/CEO, Rohana Bandara Weerakoon and the Corporate Management were present at the occasion.

Danoj Theekshana Weerasekara, a student of Ahatuwewa Model Primary School in Kurunegala District, has won the first place in Sinhala Medium at Grade 5 Scholarship Examination this year, with 193 marks. His remarkable achievement reflects not only his personal talents, but also the commitment of his family members, guidance of his teachers and support of the entire school community, who came together to make his triumph a reality.

The National Savings Bank, while complimenting his achievement, wishes him good luck, strength and courage for his future academic endeavors.

Being always committed towards realizing the educational goals of the children of the country, NSB organizes a seminar series, well in advance of the Examination, every year, to support them in preparation for the exam. The Bank has been able to hold more than 100 seminars islandwide this year as well.

Through these seminars, it is expected to provide the students with knowledge, guidance and mental strength, required to be successful at the Examination and the Bank has joined hands with them at an important juncture of their lives, assuring support and strength to face the exam with confidence. (NSB)

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CSE receives ‘Great Place to Work’ for five consecutive years

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Members of CSE, CDS & CSE Clear gathered to commemorate the accolade

The Colombo Stock Exchange (CSE) has received the ‘Great Place to Work’ Certification’ for the 5th consecutive year in a row. Since 2022 the bourse has been continually awarded the certification in recognition of its commitment to providing a welcome, inclusive and safe environment.

“At CSE, our people remain our greatest strength.” remarked Rajeeva Bandaranaike, CEO of the CSE “Receiving the Great Place to Work Certification for the fifth consecutive year is a meaningful recognition of our commitment to creating a workplace culture founded on trust, respect, and collaboration. It is an achievement shared by every member of the CSE team and reflects the passion, commitment, and teamwork that continue to drive our success.”

The certification was awarded by Great Place to Work®, a global organization that grants this recognition across more than 180 countries and regions and represents over 20 million employees and 22,000 companies worldwide. The certification was based on the results of an anonymous, company-wide survey that evaluated workplace culture across five key dimensions: credibility, respect, fairness, pride, and camaraderie.

The certification reaffirms CSE’s commitment to its foundational values of Professionalism, Integrity, Care, Teamwork, Passion and Agility. By championing equity and inclusion, the CSE has built a welcoming, discrimination-free culture where every individual can thrive. A cornerstone of this success is CSE’s leadership in workplace diversity as an equal opportunity employer and signatory to the UN Women’s Empowerment Principles, alongside its close collaboration with the UN Global Compact and Respectful Workplaces initiatives. Additionally, the exchange fosters dynamic young talent, with early-career professionals accounting for 57% of its workforce.

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SEBSA and Addovation form strategic partnership to support IFS customers across the globe

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From left: Muthuraja Nanayakkara, CEO of SEBSA (Pvt) Ltd and Mikael Johansson, Interim CEO of Addovation

SEBSA and Addovation announced a strategic partnership that brings together senior IFS specialists from both organisations to drive long-term IFS customer success across the globe. The strategic partnership forms one of the largest consortiums of its kind in the industry.

This strategic partnership builds on an existing track record of successful project deliveries together, which has already demonstrated the operational compatibility between the two organisations. Addovation brings a strong presence and deep market understanding across the Nordic region, while SEBSA brings established global IFS expertise.

“Scale alone is not enough. What matters is having experienced specialists who understand complex customer environments and can deliver consistently,” says Muthuraja Nanayakkara, CEO of SEBSA. “Both SEBSA and Addovation bring decades of IFS expertise in our own right, and together, we combine that experience with a strong European business understanding and the capacity to support customers across markets.”

“AI is changing the conversation around ERP. Companies are asking not only how they modernize their systems, but how they build a foundation that allows them to continuously adopt new technology and turn it into business value,” says Mikael Johansson, Interim CEO of Addovation.

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