e&, formerly known as Etisalat Group, has reported a year-on-year net profit of AED 4.9 billion (US$1.36 billion) in the first half of 2022, a 2.5 percent increase over the company’s performance in the same period of last year.
The company’s consolidated revenues reached AED 26.3 billion, an increase of 3.8 percent over the corresponding period last year at constant exchange rates.
Consolidated EBITDA remained steady in reporting currency at AED 13.4 billion, while it increased by 4.1 percent in constant currency, resulting in an EBITDA margin of 51 percent.
The number of e& subscribers in the UAE reached 13.3 million in H1 2022, representing an increase of 10 percent over the same period last year, while aggregate group subscribers reached 160 million, a 2.5 percent increase.
The Board approved interim dividend of 40 fils per share for H1 2022.
”Our financial performance reinforces e&’s success story and its strong standing, tackling the challenges and rising to every opportunity to execute our ambitious plans we embarked on earlier this year and set the momentum for the remainder of 2022,” Jassem Mohamed Obaid Bu Ataba Alzaabi, Chairman of e&, said. “We have embraced digitisation, with a continuous innovation ethos to charter our course into a more holistic digital transformation for our communities and societies”.