The Board of Directors approves the distribution of cash dividends to shareholders at 40 fils per share

4.9 billion dirhams, net profit of the “&e” group during the first half

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&e, formerly known as “Etisalat Group”, announced yesterday its consolidated financial results for the first half of 2022. The value of consolidated revenues during the first half of this year amounted to 26.3 billion dirhams, while its consolidated net profit amounted to 4.9 billion dirhams, an increase an annual rate of 2.5%.

The Board of Directors approved the distribution of cash dividends to shareholders for the first half of 2022 at a value of 40 fils per share.

According to constant exchange rates, revenues increased by 3.8%, while “&e” EBITDA amounted to 13.4 billion dirhams, and it increased by 4.1% according to constant exchange rates, which led to an EBITDA margin of 51% .

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

Since its transformation into a global technology and investment entity, “&e” has maintained its good performance, while making remarkable progress through deliberate acquisitions, developing innovative solutions for all customer segments, in addition to strengthening local, regional and international partnerships aimed at creating more value for customers, companies and communities We serve it.

On the occasion of announcing the financial results for the first half of 2022, &e Group Chairman Jassim Mohammed Al Zaabi said: “(&e)’s performance during the first half of this year demonstrates our continuous efforts and tireless work to achieve our vision of leading the digital future and commitment steadfastness towards the communities we serve, and the achievement of added value for our shareholders.”

He added, “Our financial performance confirms the leadership of (&e) company and enhances its ability to deal with various challenges and advance all opportunities to achieve our ambitious plans, which we started at the beginning of this year. We have drawn a clear roadmap based on enhancing investment in innovation through a comprehensive digital transformation journey aimed at serving and empowering communities ».

In turn, the CEO of the “&e” group, Engineer Hatem Dowidar, said: “The financial results for the first half are tangible evidence of the high efficiency in which the group 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 efficiency. operational, 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 witnessed high inflation rates, high interest rates and pressured exchange rates. We will work hard to maintain this performance and deal with these challenges as opportunities for long-term focus and investment. We will focus on our goal of creating and deploying innovative solutions that positively impact people’s lives.”

He continued: “The (&e) group will also continue to explore promising growth opportunities, increase the range of offers, and enhance the quality of services and solutions provided to customers, to meet the needs of their new lifestyles and emerging requirements that go beyond traditional telecom services. Leading technology, which has helped us consolidate our position through our geographical reach, as well as the development of attractive investment opportunities and carefully considered acquisitions.

Through the accelerating digital transformation path at (&e), we seek to digitally empower our clients, grow in the financial technology field, provide comprehensive digital solutions, reach new heights of customer 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 cooperation and accelerate the adoption of next-generation technologies.

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