2.4 billion dirhams net profit of the e & group during the first quarter

Abu Dhabi (Etihad) During the first quarter of this year, e & (formerly known as “Etisalat Group”) achieved a net profit of 2.4 billion dirhams, a growth of 3.6%, and revenue of 13.3 billion dirhams, 13.2 billion dirhams, an increase of 0.8%.
Earnings before interest, tax, depreciation and amortization exceeded 6.8 billion dirhams, a growth of 0.5%, and earnings per share were 0.28 dirhams, a growth of 3.6%.
The total number of the group’s subscribers increased by 2% to 159 million.
According to constant exchange rates, income increased by 3.5% annually, and earnings before interest, tax, depreciation and amortization increased by 2.8% annually.

e &
During the first quarter, e & won the title of the strongest brand in the telecommunications sector in the world and became the first telecommunications company in the Middle East and Africa to achieve this title.
e & shareholders agreed to distribute cash dividends of 0.8 dirhams per share for the year 2021.
elGrocer was fully acquired under the Smiles application.
It has entered a new phase of collaboration and strategic partnership with Microsoft, in a way that supports its efforts to transform into a global technology group.
It has partnered with Meta to promote innovation, digitize subscriber services and enhance augmented reality (AR), virtual reality (VR) experiences and e-commerce through its digital transformation plans.
Communicate with Mobily to discuss a possible offer to increase its ownership in the company.
Signing of a memorandum of understanding between Etisalat Misr and Honeywell to provide new services and products in the field of Internet of Things and smart cities.
A partnership with the Abu Dhabi Digital Authority and Trend Micro to launch the “Cyber ​​Eye” initiative to improve the cyber security capabilities of government agencies in the Emirate of Abu Dhabi.

Etisalat Emirates, of e &

The launch of the first digital insurance services platform of its kind in the UAE, to provide health insurance, vehicle insurance and travel insurance services immediately, easily and simply.
Honors the high performance of leading SMEs in the UAE.
Collaborate with Amazon Web Services (AWS) to keep up with companies’ growing demand for digital solutions and services across multiple sectors.

e & life, from e &

Emirates Vision (E-Vision), a subsidiary of the e & group and the holding company (ADQ), has signed a binding agreement to acquire a majority stake of approximately 57% in StarsPlay Arabia, the leading video streaming service provider.
ejunior channel, wholly owned by Emirates Vision, celebrates its 21-year journey of success in the United Arab Emirates.

e & institutions, of e &
Collaborates with data security specialist NICE to activate the innovative CXone cloud platform in the UAE.
Collaboration with Oracle to provide business solutions for the Transguard Group in the cloud, with the goal of reducing the total cost of owning and operating information technology systems by more than 40% over five years.

Overview

The value of e &’s consolidated income during the first quarter of this year amounted to 13.3 billion dirhams, an annual increase of 0.8%, while its consolidated net profit amounted to 2.4 billion dirhams, an annual increase of 3 , 6%, while e & profit before interest, tax, depreciation and amortization 6.8 billion dirhams, an annual increase of 0.5%, and an EBITDA margin of 51%. According to constant exchange rates, income increased by 3.5% annually, and earnings before interest, tax, depreciation and amortization increased by 2.8% annually.
The subscriber base in the United Arab Emirates reached 13.1 million subscribers during the first quarter, while the total number of e & subscribers reached 159 million subscribers, an increase of 2% over the same period last year.
“& & # 39 ;s delivered high levels of performance across its core indicators, driven by growing demand for digital and data services, and the group’s ability to take advantage of its superior networks.”

future prospects

Since its transformation into a global technology and investment entity, e & has maintained its strong performance by; Thoughtful acquisitions, the development of innovative solutions for all customer segments, as well as the strengthening of partnerships aimed at creating more value for consumers, businesses and communities.
Commenting on the results of the first quarter of 2022, Hatem Dowidar, CEO of e & Group, said: “The financial results for the first quarter are tangible evidence of the high efficiency in which the group started the new chapter of its journey, in the context of its transformation into a global technology and investment conglomerate that is digitally empowering communities.
Dowidar added: “The e & group will continue to explore promising growth opportunities, expand the range of offerings, improve the quality of services and solutions provided to customers, forge new partnerships and launch digital initiatives to drive the efforts of government agencies, small, medium and large companies in digital transformation, based on its vision to create a more advanced business model that enables it to exploit the opportunities offered by the rapid digital development of business sectors. ”
Dowidar concluded its statement by thanking the wise leadership of the United Arab Emirates for its permanent support to the telecommunications sector, and emphasizing the zeal of the e & group to provide pioneering work and innovative services and solutions to all segments of clients, through high flexibility in implementing business, and investing in future technologies as they go ahead It works to accelerate the pace of digital transformation, which will have a positive impact on companies and individuals, and contribute to value creation for shareholders .

corporate identity
Etisalat Group recently changed its corporate identity to the e & brand. Consistent with its strategy of accelerating growth through a flexible business model, which represents its various key business segments.
The telecommunications sector is at the forefront of these sectors, as its operations are currently managed by Emirates Telecom in the main market for e &, and by sub-companies for international operations to ensure the maintenance of the group’s legacy in the telecommunications sector, strengthening its strong telecommunications network , and doubling the value provided to all segment customers.
To enhance the digital services provided to its individual customers and enhance their lifestyle, e & Life offers next-generation digital services technology through smart communication platforms in the fields of entertainment, retail and financial technology.
In order to enable digital transformation of governments, business and enterprise, e & enterprise will focus on value enhancement through robust cybersecurity solutions, cloud computing services, internet of things, artificial intelligence, as well as to serve mega projects, while e & investment will focus its efforts on investment opportunities, acquisitions and increasing returns to shareholders to improve its global presence.

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