Thursday, June 20, 2024

3 billion dirhams in “E&” net profit in the third quarter


Yesterday, E& announced its consolidated financial results for the third quarter of this year, where consolidated revenue reached 13.4 billion dirhams with a year-on-year growth of 3.3%, while its consolidated net profit reached three billion dirhams with a 20% year-on-year growth.

At constant exchange rates, consolidated revenue increased 8%, while consolidated earnings before interest, tax, depreciation and amortization (EBITDA) increased 6.9% and EBITDA margin increased 51%.

At the subscriber level, the total number of “Etisalat by Etisalat” subscribers in the UAE reached 14 million subscribers, an increase of 4.7% compared to the same period last year, while the group’s total subscriber base reached 167 million subscribers. , annual increment. Its percentage reached 3.3%.

E& CEO, Hatem Dowidar said: “E&’s strong financial results in the third quarter of this year reflect its flexibility of performance and commitment to providing valuable services that meet clients’ aspirations and achieve stakeholders’ goals. E& continues to . . . embrace innovation to enrich the lives of clients and make a positive impact in the communities in which it operates.” Its focus is on making an impact.

He added: “In the third quarter of 2023, as part of our commitment to deliver a new and pioneering customer service experience powered by artificial intelligence, we continued to drive transformation through E&’s first steps in sustainable mobility. A vision that continues to strive to empower communities.” “Digital.”

Dowidar continued: “(E&) continues to explore the future of technology and the frontiers of innovation based on the strong results it has achieved, a starting point towards a promising future where (E&) will continue to lead the technology scene. and provides valuable solutions and services to customers and partners.” .

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“E&” company launched “EASE” store, the world’s first self-store supported by artificial intelligence technology in the telecommunications industry, ensuring an approach to innovation and the use of the latest technologies to reach customers. An exceptional, seamless experience when purchasing products and services. &” provides innovative solutions to the mobility sector in the UAE with the initial launch of the “Charge&Go” project as an integrated system for charging electric cars in the UAE.

• The group’s subscriber base reached 167 million subscribers, an increase of 3.3% year-on-year.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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