Gulf Navigation Holding PJSC (GULFNAV)

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News

17 August 03:00 AM Gulf Navigation swings to profitability in H1-25; revenues leap 110% in Q2-25

Dubai - Mubasher: Gulf Navigation Holding reported AED 463,000 in net profits after tax during the first half (H1) of 2025, versus net losses of AED 24.69 million in H1-24.Revenues surged to AED 54.35 million in the first six months (6M) of 2025 as c

Sector Reports

14 July 03:00 AM Gulf Navigation raises $136m from MCB offering

Dubai – Mubasher: Gulf Navigation Holding has completed its AED 500 million mandatory convertible bond (MCB) offering, with total subscriptions exceeding AED 520 million from eligible shareholders.The shareholders subscribed for the transaction throu

Mergers and Acquisitions

16 March 02:52 PM Gulf Navigation to acquire Brooge Energy’s assets for AED 3.1bn

Dubai – Mubasher: The shareholders of Gulf Navigation Holding approved the strategic acquisition of assets and companies owned by Brooge Energy Limited (BEL) for a total value of AED 3.19 billion. The shareholders granted their approval at the …

Companies Investments

16 February 07:17 PM Gulf Navigation incurs AED 23m losses in 2024

Dubai – Mubasher: Gulf Navigation Holding shifted to net losses valued at AED 22.79 million in 2024, against net profits amounting to AED 21.27 million in 2023. Revenues dropped to AED 88.68 million in 2024 from AED 105.53 million a year earlier, …

Financial Results

18 November 2024 10:53 AM Gulf Navigation Holding’s revenues jump 26% in Q3-24

Dubai – Mubasher: Gulf Navigation Holding (GNH) turned to net losses worth AED 23.56 million in the first nine months (9M) of 2024, compared to net profits of AED 34.66 million in 9M-23. The revenues stood at AED 60.44 million in 9M-24, marking an …

Financial Results

18 August 2024 09:56 AM Gulf Navigation Holding records lower revenues in H1-24; net losses reported

Dubai – Mubasher: Gulf Navigation Holding (GNH) shifted to net losses valued at AED 24.69 million in the first half (H1) of 2024, versus net profits of AED 27.78 million in H1-23. Revenue shrank to AED 37.46 million in H1-24 from AED 64.87 million …

Financial Results

12 June 2024 03:13 PM Gulf Navigation’s Vice Chairman resigns

Dubai – Mubasher: Mohamed Abdulrahman Amiri resigned from his position as the Vice Chairman of Gulf Navigation Holding (GNH). Abdulrahman Mahmoud Al Afifi will succeed Amiri, according to a bourse disclosure. The board accepted the resignation …

Board of Directors

15 May 2024 02:50 PM Gulf Navigation swings to AED 11.5m losses in Q1-24

Dubai – Mubasher: Gulf Navigation Holding (GNH) turned to net losses valued at AED 11.48 million in the first quarter (Q1) of 2024, against net profits worth AED 13.49 million in Q1-23. Revenues amounted to AED 23.83 million in the first three …

Financial Results

19 February 2024 01:17 PM Gulf Navigation’s profits surge to AED 24m in 2023

Dubai – Mubasher: Gulf Navigation Holding (GNH) registered AED 23.80 million in net profit during the January-December 2023 period, compared to AED 4.66 million in 2022. Gross revenue shrank to AED 108.27 million in 2023 from AED 137.22 million a …

Financial Results

27 December 2023 02:11 PM Gulf Navigation fully acquires Gulf Navigation Polimar

Dubai – Mubasher: Gulf Navigation Holding (GNH) has acquired 40% of the Turkish Polimar Holding Company's stake in Gulf Navigation Polimar Maritime. Through the transaction, the DFM-listed company increased to stake from 60% to 100%, according to …

Mergers and Acquisitions

17 October 2023 08:59 AM Gulf Navigation sees higher profits in 9M-23 interim results

Dubai – Mubasher: The net profits attributable to the owners of Gulf Navigation Holding (GNH) enlarged to AED 34.66 million in the first nine months (9M) of 2023 from AED 1.93 million in 9M-22. The DFM-listed firm witnessed an annual drop in …

Financial Results

11 October 2023 10:18 AM GNH concludes AED 200m capital hike

Dubai – Mubasher: Gulf Navigation Holding (GNH) has increased its capital by 31.36% to AED 837.69 million from AED 637.69 million, according to a bourse filing. GNH raised its capital through the private issuance of 220 million mandatory …

Management Decisions

16 July 2023 01:49 PM GNH shifts to AED 28m profits in H1-23; accumulated losses eliminated

Dubai – Mubasher: Gulf Navigation Holding (GNH) turned to net profits attributable to the owners amounting to AED 27.78 million in the first half (H1) of 2023, against net losses worth AED 2.53 million in H1-22. The revenues hit AED 64.87 million …

Financial Results

12 July 2023 01:32 PM GNH cuts stake in Global Equity Investment to 10.63%

Dubai – Mubasher:  Gulf Navigation Holding (GNH) reduced its equity ownership in Global Equity Investment to 10.63% from 12.79%. GNH announced the cut transaction in a bourse disclosure on Wednesday. During the first three months (3M) of 2023, the …

Corporate Actions

16 May 2023 01:31 PM GNH unveils hike in Q1-23 profits, capital reduction by 50%

Dubai – Mubasher: The net profits of Gulf Navigation Holding (GNH) reached AED 13.49 million in the first quarter (Q1) of 2023, an annual leap from AED 1.82 million. Basic and diluted earnings per share (EPS) attributable to the owners went up to …

Management Decisions

6 February 2023 11:19 AM GNH’s profits shrink in 2022 unaudited results; capital restructuring proposed

Dubai – Mubasher: Gulf Navigation Holding (GNH) witnessed a drop in net profit to AED 5.75 million in 2022, compared to AED 59.52 million in 2021. Gross revenues enlarged to AED 137.22 million in 2022 from AED 121.98 million in the …

Corporate Actions

7 November 2022 01:00 PM GNH’s profits attributable to owners shrink in 9M-22; accumulated losses announced

Dubai – Mubasher: Gulf Navigation Holding (GNH) posted net profits attributable to the equityholders worth AED 1.93 million in the first nine months (9M) of 2022, versus AED 66.33 million in 9M-21. Operating revenues amounted to AED 104.09 million …

Financial Results

4 September 2022 03:54 PM GNH completes repayment of $2.7m loan

Dubai – Mubasher: Gulf Navigation Holding (GNH) has successfully completed the full repayment of a $2.70 million loan for one of its vessels. The loan was financed by "Rasmala" with an interest rate of 12%. The full proceeds of this vessel will …

Board of Directors

16 August 2022 03:54 PM GNH swings to losses in H1-22; accumulated losses unveiled

Dubai – Mubasher: Gulf Navigation Holding (GNH) has turned to net losses attributable to the owners worth AED 2.53 million in the first half (H1) of 2022, against net profits of AED 80.10 million in H1-21. The operating revenues jumped to AED …

Financial Results

17 May 2022 10:03 AM GNH sees lower profits in Q1-22

Dubai – Mubasher: The net profits attributable to the owners of Gulf Navigation Holding (GNH) plunged to AED 1.65 million in the first quarter (Q1) of 2022 from AED 80.13 million in the corresponding period in 2021, according to the company's …

Financial Results

3 February 2022 08:44 PM GNH’s shareholders approve AED 150m convertible bonds issue, capital hike

Dubai – Mubasher: The general assembly meeting of Gulf Navigation Holding (GNH) has approved the issuance of mandatory convertible bonds at a value of up to AED 150 million through a private placement. The move aims to restructure existing Sukuk …

General Assembly

28 April 2021 10:12 AM GNH completes AED 200m debt restructuring process

Dubai – Mubasher: Gulf Navigation Holding (GNH) has completed the restructuring process of its largest loan valued at over AED 200 million with Australis Maritime Limited. The value of the debt has been rescheduled to decrease by 25% or AED 4 …

Companies Investments

1 April 2021 11:26 AM GNH's board proposes 10% share buyback

Dubai – Mubasher: The board of Gulf Navigation Holding (GNH) has recommended re-purchasing 10% of the company's shares, following obtaining the necessary approvals. The liquidity resulting from the insurance settlement related to the sinking of …

Companies Investments