Middle East

e& reports consolidated net profit of 4.9 billion Dhs in the first half of 2022

United Arab Emirates e& has announced its results for the first half of 2022. The Group’s consolidated revenue was Dhs 26.3 billion and consolidated net profit was Dhs 4.9 billion, representing a year-on-year (YoY) increase of 2.5%.

At constant exchange rates, revenue increased by 3.8%.

Consolidated Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) remained stable at Dhs 13.4 billion in reporting currencies, while growing 4.1% in constant currencies with an EBITDA margin of 51%.

The number of etisalat by e& subscribers in the United Arab Emirates reached 13.3 million in the first half of 2022, reflecting a year-on-year increase of 10%, while the group’s total subscribers increased by 2.5% to 100 million. reached 60 million.

The Board of Directors has approved an interim dividend of 40 fils per share for the first half of 2022.

e& Chairman Jassem Mohamed Obaid Bu Ataba Alzaabi said: The remainder of 2022. We have embraced digitalization and, with a spirit of continuous innovation, have paved the way for a more holistic digital transformation for our communities and societies. “

Group CEO of e&, Hatem Dowidar, said: We remain resilient and view these times as opportunities to deepen our focus and invest for the long term. We focus on the goal of creating and deploying innovative solutions that positively impact people’s lives as we navigate the new global economic landscape. “

He added: Our telecommunications business is a growth engine that supports our company and its transformation into Tecco. This has allowed us to not only strengthen our leadership across our geographic footprint, but also expand our adjacencies organically and through acquisitions. “

https://gulfbusiness.com/uaes-e-reports-consolidated-net-profit-of-dhs4-9bn-for-h1-2022/ e& reports consolidated net profit of 4.9 billion Dhs in the first half of 2022

Back to top button