UAE telecom operator etisalat reported a 45.9% rise in consolidated net profit for the first nine months of 2026 to AED 17.2 billion ($4.7 billion), supported by revenue growth, higher-value digital capabilities and the sale of its stake in Vodafone Group.
Consolidated revenue rose 10% year over year to AED 57.6 billion, the company said on Tuesday. Third-quarter revenue increased 6.9% to AED 19.5 billion.
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 10.3% to AED 26.7 billion in the nine months, with a margin of 46.4%. Third-quarter EBITDA increased 5.1% to AED 9 billion, representing a margin of 46.1%.
The company’s consolidated net profit for the third quarter was reported at AED 11.2 billion.
Etisalat’s total subscriber base reached 254.8 million in the third quarter, up 29.4% year over year. In the UAE, subscribers increased 5.2% to 16.5 million, driven by demand for digital services and intelligent connectivity, the company said.
Vodafone stake sale provides financial flexibility
Etisalat completed the sale of its entire stake in Vodafone during the third quarter, generating total consideration of AED 21.9 billion, including the final dividend and a gain of approximately AED 8 billion.
The transaction contributed to the group’s financial performance during the quarter and provided additional financial flexibility, the company said.
Company targets major expansion in connectivity capacity
Etisalat said it plans to increase its international connectivity capacity to more than 500 terabits per second by 2030, more than 25 times its current capacity.
The expansion will include the development of diverse connectivity routes designed to improve efficiency, reliability and low-latency performance, supporting demand from emerging technologies and digital services.
The company said its strategy centers on connectivity, cloud computing, cybersecurity, artificial intelligence, digital services and fintech, as it seeks to position itself as an AI-powered telecommunications provider.
Etisalat marks 50 years with renewed AI focus
The company outlined its new strategic vision as it marks its 50th anniversary, emphasizing the role of connectivity and digital infrastructure in enabling the AI economy.
“Today, as AI is integrated more deeply into core enterprise and government operations, the foundational connectivity, compute, and secure infrastructure powering it become more critical,” Group CEO Masood M. Sharif Mahmood said.
He said the company would continue investing in secure digital infrastructure and high-speed connectivity to support the region’s digital transformation.
Etisalat said its strategy builds on its telecommunications business while expanding its capabilities across advanced digital services and infrastructure, with the aim of supporting the UAE’s ambition to become a global technology and AI hub.
