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e& reports 20 % growth in net profit for Q3-23

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e& reports 20 % growth in net profit for Q3-23
e& reports 20 % growth in net profit for Q3-23

ABU DHABI, 31st October, 2023 (WAM) – e& today announced its consolidated financial results for Q3 2023 reporting consolidated revenues of AED13.4 billion with a YoY increase of 3.3 per cent while consolidated net profit was AED3.0 billion, a year-over-year increase of 20 percent.

In a statement today, the company said: “At constant exchange rates, consolidated revenue increased by 8.0 percent and consolidated EBITDA increased by 6.9 per cent , resulting in a resilient EBITDA margin of 51 percent.The number of etisalat by e& subscribers in the UAE reached 14.0 million in Q3 2023, representing an increase of 4.7 percent over the same period last year, while aggregate group subscribers reached 167 million, a 3.3 percent increase.”

Hatem Dowidar, Group CEO, e&, said: “e&’s strong performance this quarter is a testament to our resilience, and commitment to deliver value and growth to our customers and shareholders. We will continue our focus on championing innovation to enrich the lives of our customers and make a positive impact across the societies we serve. We remain committed to lead the change by taking our first steps in sustainable mobility and transforming our business with AI powered solutions while realising our vision of digitally empowering societies.

“Looking ahead, we will continue to push the boundaries of technology and innovation, while our strong performance serve as a stepping stone toward a future where we continue to pioneer advancements and create even more value for all our stakeholders. Thanks to our talented teams, loyal customers and shareholders for their continued trust and support to our vision. Together, we are poised for even greater achievements to come in the near future.”

Hatem Mohamed

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