Financial Highlights

Financial Highlights for Q2 2025

Aggregate subscriber base reached 198.0 million, increasing 13.1% year over year.
Revenue increased by 28.1% year over year to reach AED 18.0 billion fuelled by strong momentum across all verticals. On a like for like basis, excluding e& PPF Telecom, e& reported a double-digit growth year over year of 10.4%.
EBITDA increased 22.2% year over year to AED 8.0bn, reporting a strong margin of 44.5%. This growth was supported by solid profitability for telecom verticals in both domestic and int’l markets with a robust telco margin of 48.4%.
Net profit after federal royalty and corporate tax increased by 9.7% year over year to AED 3.5 billion with a margin of 19.2%.
CAPEX, excluding spectrum and licenses fees, reached AED 2.5 billion with an intensity ratio of 13.8%.
Operating free cashflow, excluding spectrum and licenses fees, increased by 15.6% year over year to AED 5.5 billion on strong profitability, reporting a margin of 30.7%.
Consolidated cash balance amounted to AED 30.9 billion, leading to a net debt position of AED 34.5 billion and equivalent Net Debt /EBITDA of 1.19x.

Key Developments in Q2 2025

e& UAE launched the region’s first commercial 5G network slicing product for business customers over its cutting-edge standalone network. Revolutionizing connectivity, this pioneering solution delivers tailored, ultra-reliable 5G to meet the evolving needs of industries and organisations across the public and private sectors.
e& UAE has set a new world record for connectivity by achieving an Uplink (UL) speed of 600Mbps on a live 5G network, a landmark in the 5G-Advanced evolution. This record-breaking uplink speed is a cornerstone of 5G-Advanced, empowering uplink-biased applications with unmatched performance. By mastering FR1 band aggregation and cutting-edge uplink technology, e& UAE has set a global standard for 5G excellence.
e& enterprise is further building on its strategic partnership with Microsoft. By joining forces, both entities are prioritising the development and deployment of next-generation AI and data-driven solutions to bolster AI adoption across industries in target markets across the MENAT region, including UAE, KSA, Egypt, Turkey and Qatar.
e& enterprise announced a strategic partnership with Infobip, a global cloud communications platform, to launch the new Customer Engagement Hub. This platform provides a unified solution for enterprises across the UAE and Saudi Arabia to build sustainable customer relationships, engaging customers effectively at every touchpoint
Maroc Telecom and Inwi (Wana Corporate) announced the effective formation of the joint ventures Uni Fiber" and Uni Tower" to accelerate the rollout of fibre to the home and 5G networks throughout the Kingdom of Morocco.
e&’s shareholding in Vodafone Group plc "Vodafone" reached 16.00% in June 2025. The updated shareholding is a result of Vodafone carrying out its share buyback programme, which reduces its total share capital. e&’s total number of shares remains the same at 3,944.7 million shares.