e& has reported a record-breaking net profit of AED 10.8 billion for 2024, reflecting a 4.3% year-over-year (YoY) growth. This milestone highlights the company’s strategic transformation over the past three years, reinforcing its position as a leading global technology group.
The company also reported consolidated revenues of AED 59.2 billion, marking a 10.1% growth at current exchange rates and 12.6% at constant exchange rates. Meanwhile, EBITDA grew by 2.7% YoY, reaching AED 26.5 billion.
Expanding Subscriber Base and Market Influence
e& UAE continued its strong performance, with its subscriber base surpassing profit of 15 million, a 5.4% increase from the previous year. Across all markets, the total subscriber count surged to 189.3 million, reflecting an 11.7% rise compared to 2023.
Additionally, the company strengthened its global presence with strategic acquisitions. The majority acquisition of PPF Telecom’s assets in Central and Eastern Europe added over 10 million new subscribers across Bulgaria, Hungary, Serbia, and Slovakia. This expansion enhances e&’s ability to provide scalable digital solutions and foster digital inclusion.
Commitment to Innovation and Shareholder Value
The company continues to prioritize AI-driven solutions and enterprise digital transformation. Investments in cloud, data, and SAP capabilities through the acquisition of GlassHouse expanded its footprint in Türkiye, South Africa, and Qatar.
e& remains committed to delivering sustainable returns to shareholders, implementing a progressive three-year dividend policy. For FY 2024, the company proposed a cash dividend of AED 0.415 per share for H2, bringing the total annual dividend to AED 0.83 per share. By 2026, dividends per share are expected to reach AED 0.89, reflecting confidence in long-term financial strength.
A Vision for the Future
Jassem Mohamed Bu Ataba Alzaabi, Chairman of e&, emphasized the company’s drive for digital empowerment, stating:
“Our growth is fueled by bold vision, AI-driven innovation, and a relentless commitment to progress. By expanding into Europe and investing in transformative technologies, we are shaping the future of digital economies.”
Echoing this vision, Hatem Dowidar, Group CEO, highlighted e&’s strategy to lead digital transformation across three continents:
“With over $20 billion in brand value, we are the World’s Fastest Growing Brand. Our focus remains on leveraging AI, expanding intelligent platforms, and ensuring that technology drives positive change globally.”
As e& moves forward, the company aims to push boundaries, foster global collaborations, and build a future-ready digital ecosystem that empowers businesses, governments, and societies.
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