حفلة 2024

e& reports net profit of $2.72bln in 2022

UAE telecom group e& reported on Monday a rise in consolidated net profit of AED10 billion ($2.72 billion) up 7.4 percent over the previous year, and the group’s revenue hiked by 4.7 percent to reach AED 52.4 billion in 2022.

However, consolidated EBITDA increased by 3.7 percent year-over-year at a constant exchange rate to AED 26.2bn, leading to an EBITDA margin of 50 percent, highlighting the strong profitability of e&’s operations.

The statement added that the number of the company’s customers has grown at the level of the UAE user base by 8.8 percent in 2022 to reach 13.8 million subscribers, and the group’s aggregate subscribers reached 163m, an increase of 2.5% over 2021.

Last year, e& has strengthened its transformations into global technology and investment group committed to digitally empowering societies, despite various global challenges, group CEO Hatem Dowidar said.

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