Prime Highlights
- e& reported an 11.6% increase in first-half revenue, supported by subscriber growth and rising demand for digital services.
- The company completed the sale of its Vodafone stake, generating AED21.9 billion in gross cash proceeds.
Key Facts
- e& is a UAE-based global technology and telecommunications group serving customers across the Middle East, Africa, Asia and Europe.
- The group’s total subscriber base increased 30.4% year-on-year to 251.5 million, while EBITDA rose 13.1% to AED17.7 billion.
Background
The UAE-based telecoms and technology company e& has recorded high financial performance for the first half of the year due to an increased subscriber base and investments in digital services. The company recorded consolidated revenue of AED38.1 billion, an increase of 11.6% compared with the same period last year.
Consolidated net profit reached AED6 billion, up 2.4% after excluding the impact of one-time gains from the Maroc Telecom settlement and the sale of its stake in Khazna in the previous year. EBITDA rose 13.1% year-on-year to AED17.7 billion, while the EBITDA margin improved to 46.5%.
The group’s total subscriber base grew 30.4% to 251.5 million customers. Subscribers in the UAE increased by 6.4% to around 16.5 million, driven by the increased demand for digital services, improved telecom infrastructure and AI-enabled solutions for consumers and enterprises.
During the period, e& completed a strategic review of its international investment portfolio and exited its investment in Vodafone Group. The transaction generated gross cash proceeds of AED21.9 billion and a net cash gain of about AED4.8 billion. The company also sold 12.5% of its stake in Careem Technologies to Uber for AED367 million.
Chairman Jassem Mohamed Bu Ataba Alzaabi said the results reflected the success of the group’s long-term strategy and its continued investment in technology infrastructure and digital solutions. He added that the company remained focused on strengthening its regional and international leadership while creating sustainable growth through innovation and expanding digital capabilities across its businesses.
