UAE telecom company e& sees 129.9% jump in profit to $1.5 billion in early 2025 as revenue rises
Emirates Telecommunications Group Company, also called e&, said its net profit for the first quarter of 2025 more than doubled compared to the same time last year. It reached $1.5 billion (AED 5.4 billion), thanks to higher revenues, according to its earnings report released on Wednesday.
e& Earnings Report
- In the first quarter of this year, e& made a profit of $1.5 billion (AED 5.4 billion), which is much higher than the $634.4 million (AED 2.3 billion) it made in the same period in 2024.
- Revenue (total money earned) went up by 18.7%, reaching $4.6 billion (AED 16.9 billion), compared to $3.9 billion (AED 14.2 billion) in the same period last year.
- The group’s total income and profit both grew. Net profit increased by 129.9%, and total income rose to $4.6 billion (AED 16.9 billion).
- e&’s earnings before interest, taxes, depreciation, and amortization (EBITDA) also grew 15.4% year-on-year to $2 billion (AED 7.4 billion), according to a statement released today.
- The total number of e& subscribers reached 194.8 million, up by 12.9% compared to last year. In the UAE alone, e& had 15.3 million subscribers.
Stock and Market Value
As of 8:30 am AST Arabia, e& shares went up by 0.8%, giving the company a total market value of $151.8 billion (AED 41.3 billion), according to the Abu Dhabi stock exchange.
Recent Deals
In February, e& signed a deal with Group 42 Holding Ltd (G42) to sell its 40% share in Khazna Data Center Holdings for $2.2 billion (AED 8 billion).
This sale is expected to bring in a profit of $1.4 billion (before taxes and royalties), and the money will be used to reduce the company’s debt.
e& is also planning to grow its business in Central and Eastern Europe and earn money in more stable currencies.
To support this goal, e&’s unit, e&PPF Telecom, agreed in February to fully buy SBB, a broadband and TV company in Serbia, for $854.6 million. This will help e& strengthen its presence in that region.
Published: 30th April 2025
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