The group’s consolidated revenues in the fiscal year 2022 rose to 52.4 billion dirhams ($14.3 billion), an annual growth of 4.7 percent, according to constant exchange rates, supported by the successful transformation of the group, expansion within new business pillars and ensuring multiple sources of revenue.
Consolidated EBITDA for 2022 rose to AED 26.2 billion, an annual growth of 3.7 percent, based on constant exchange rates, resulting in an EBITDA margin of 50 percent, reflecting the strong profitability of operations in e& .
The Board of Directors recommended distributing cash dividends to shareholders for the second half of 2022 at a value of 0.40 dirhams per share, which represents the total dividends distributed for the fiscal year 2022 at a value of 0.80 dirhams per share.
At the level of the subscriber base, Etisalat from e& recorded growth in 2022, as the number of subscribers reached 13.8 million subscribers in the UAE, an increase of 8.8 percent over 2021, bringing the total number of group subscribers to 163 million, an annual increase of 2.5 percent.
At constant exchange rates, revenue increased annually by 4.7 percent and EBITDA increased annually by 3.7 percent.
The group strengthened its partnerships regionally and globally to provide digital solutions and high-value technological services that meet the evolving needs of the different societies and markets in which it operates, and contribute to empowering societies digitally.
For his part, Jassim Al Zaabi, Chairman of the Board of Directors of e&, said, “The exceptional financial results achieved by e&, with consolidated revenues of 52.4 billion dirhams and net profits of 10.0 billion dirhams in 2022, are strong evidence of the success of our strategy to transform into a technology and investment group, seeking to contribute strongly in the development of next generations of communications and put a real footprint in the creation of advanced technological solutions.
He added, “Since the beginning of its journey to transform into a technology group, the group has been keen to diversify its business and sources of income through the integrated business axes that it established, by expanding into new sectors and providing innovative technological services, and focusing on benefiting from the capabilities provided by digital technology to provide the latest solutions and services.” customers in the different markets in which it operates.
#Record #growth #profits #percent #reach #billion