Emirates News Agency – AED 4.9 billion consolidated net profit for the “&e” group during the first half, with a growth of 2.5%

The Board of Directors approves the distribution of cash dividends to shareholders of 40 fils per share for the first half.

ABU DHABI, 1 August / WAM / The “&e” Group (formerly known as “Etisalat Group”) today announced its consolidated financial results for the first half of 2022, which achieved net profit of approximately 4.9 billion dirhams, a growth of 2.5% compared to the same period of the year. past 2021.

According to the group’s results, the value of the consolidated income of “&e” during the first half of this year amounted to 26.3 billion dirhams with 4.1% at constant exchange rates, resulting in an EBITDA margin of 51% has.

The subscriber base in the United Arab Emirates reached 13.3 million subscribers during the first half of this year, representing an increase of 10% over the same period last year, while the total number of “&e” subscribers reached 160 million subscribers, an increase of 5% 2.5%.

The Group’s board approved the distribution of cash dividends to shareholders for the first half of 2022 at a value of 40 fils per share.

Since its transformation into a global technology and investment entity, “&e” has maintained its strong performance while making remarkable progress through; Thoughtful acquisitions, the development of innovative solutions for all customer segments, as well as the strengthening of local, regional and international partnerships aimed at creating more value for customers, businesses and the communities we serve.

His Excellency Jassim Mohammed Al Zaabi, Chairman of the Board of Directors of “&e” Group, said: “The performance of the group during the first half of this year demonstrates our continuous efforts and tireless work to achieve our vision of creating the digital future. , unwavering commitment to the communities we serve, and creating value for shareholders.

His Excellency added that our financial performance confirms the leadership of “&e” and enhances its ability to deal with various challenges and promote all opportunities to achieve our ambitious plans that we started at the beginning of this year. .

His Excellency the Chairman of &e concluded his statement by saying: “I would like to thank the wise leadership of the United Arab Emirates for its inspiring vision and continuous support for the information and communication technology sector, and I also appreciate the efforts of the company ‘s management team, which has succeeded in embodying the digital vision by using our technical and digital capabilities to lead the digital transformation of governments, companies and consumers and providing complete and comprehensive solutions. All thanks to our loyal customers and shareholders for their unwavering support, which motivates us to contribute to the achievement of new global standards and continuous and lasting successes.”

For his part, Eng Hatem Dowidar, CEO of “&e Group”, said: “The financial results for the first half are tangible evidence of the high efficiency in which the group has started a new phase of its journey, in the context of its transformation into a global technology and investment conglomerate and the culmination of its efforts to enable and enhance growth and achieve operational efficiencies, with an unwavering commitment to key strategic priorities to enable the digital future and drive innovation. ” Dowidar added: “The group has performed well despite global economic challenges that have seen high inflation rates, high interest rates and pressure on exchange rates, and we will work hard to maintain this performance and treat these challenges as opportunities to focus and to invest in We will focus on our goal of creating and deploying innovative solutions that positively impact people’s lives.

The “&e” group will also continue to explore promising growth opportunities, increase the range of offerings and improve the quality of services and solutions provided to customers, to meet the needs of their new lifestyles and emerging requirements that go beyond traditional telecommunications services. This has helped to strengthen our position through our geographical spread, as well as the development of attractive investment opportunities and carefully considered acquisitions.

Through the path of accelerating digital transformation at &e, we aim to digitally empower our clients, grow in the financial technology field, provide comprehensive digital solutions, reach new heights of client experience, and explore unique investment opportunities.

For example: Our investment in Vodafone came to achieve new ambitions and added value, and open other doors for collaboration and accelerate the adoption of next generation technologies. We are confident that the achievements we have made during the first half of 2022, through our main business pillars, will increase our ability to create a business model that makes us better prepared for the future, celebrates our past and enables us to to grasp the technical. opportunities ahead.

Dowidar concluded his statement by thanking the wise leadership of the United Arab Emirates for its permanent support to the telecommunications sector, and highlighted the e& group’s zeal to provide pioneering and innovative services and solutions to all segments of customers through high flexibility in implementing business, and investing in future technologies, at a time when it will continue to work to accelerate the pace of digital transformation, to reach new heights.”

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