e& net profit rises to Dh2.5b as subscribers climb

e& net profit rises to Dh2.5b as subscribers climb

e&, formerly known as Etisalat Group, has announced that its consolidated revenues hit Dh13 billion in the 3rd quarter of 2022. Meanwhile, the net profit consolidated climbed by Dh2.5 billion, indicating an increase in year-on-year revenue of 1.9 percent.

In constant currency, revenues rose by 5.5 percent, while the overall EBITDA in reporting currency was Dh6.7 billion. It also increased by 6.9 percent in constant currency, which resulted in an EBITDA margin of 52 percent.

The number of Etisalat customers in the UAE increased to 13.3 million in the July-September 2022 quarter, which is an improvement of eleven percent in comparison to the same time the previous year. The total group subscriber count reached 162 million representing an increase of four percent.

E&’s strong performance is the basis for the steady progress of the Group’s ambitious goals as it began an entirely new phase of its evolution into an international investment and technology conglomerate in the first quarter of this year. The creation of focused business pillars in its transformation process has contributed to its agility as an organization. It has enabled solid strategic partnerships as the Group explores the diversification of its international and local portfolios.

Etisalat Group is changing its branding changing its brand name to e&, effective from February 23rd, 2022. The strategy is to speed up growth by developing an enduring business model that represents the core business pillars of the company.

The telecoms business is currently under the direction of Etisalat e& in its home market and through e& international in its international markets, preserving the Group’s long-standing telecoms tradition and enhancing the robust telecoms network, and maximizing the value of the Group’s diverse customers.

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Invigorating digital offerings for customers who want to improve their digital-first lifestyles, e&life provides new technologies via innovative platforms in retail, entertainment, and financial technologies. To make the most of the digital potential of large-scale companies, governments, and corporations, e& enterprise focuses on creating new Digital vertical value-added propositions with its comprehensive cybersecurity solutions, cloud technology, Internet of Things (IoT), and Artificial Intelligence (AI), and also deploying massive projects.

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