Financial Highlights


Financial Highlights for Q3 2023

  • Aggregate Subscriber Base – 167 million, representing a year over year increase of 3%
  • Consolidated Reported Revenues – AED 13.4 billion, representing a year over year increase of 3% with a constant currency growth of 8% fueled by growth across all markets
  • Consolidated Reported EBITDA – AED 9 billion , representing a year over year increase of 3% but 7% growth in constant currency, translating to an EBITDA Margin of 51% attributed to changes in revenue mix and inflationary pressures
  • Consolidated Net Profit After Royalty – AED 3.0 billion, representing a year over year increase of 20% with a net profit margin of 22%
  • Consolidated Capital Spending – AED 1.8 billion, representing an increase of 11% with an intensity ratio of 13%
  • Operating Free Cashflow – AED 5.1 billion, representing a year over year decrease of 5% and a margin of 38%.

Key Developments in Q3 2023

  • e& acquires a controlling stake (50% + 1 economic share) in PPF Telecom’s assets in Bulgaria, Hungary, Serbia, and Slovakia “PPF Telecom”. The transaction bodes well with e&’s strategic ambition to expand its international vertical by diversifying into new geographies and enter the buoyant Central East Europe region.
  • e& enterprise successfully completed the manority acquisition of 63.3% of Beehive, a peer-to-peer lending platform, for an amount of USD 23.6 million.
  • As part of the Group’s strategy in strengthening its telecom portfolio, e& is in the early stage of assessing a potential acquisition in Ethio Telecom.
  • The partnership reinforces e&'s COP27 pledge to attain net zero Scope 1 and 2 emissions for its group operations in the United Arab Emirates by 2030, aligning with the Group's strategy to approach net zero and champion global climate action for a sustainable future.
  • e& announced it has joined the World Economic Forum's EDISON Alliance, reinforcing its commitment to making a positive impact on the world by prioritising digital inclusion in achieving the United Nations (U.N.) Sustainable Development Goals.
  • Indosat and e& will maximise the utilisation of each other's network infrastructure, technology, and customer base to offer broader services, improved connectivity, and a superior experience to customers.
  • e& won the 'Middle East Operator of the Year' and the 'Best Regional SMS Service Provider’ at the 7th Carrier Community Global Awards ceremony in Berlin, reaffirming its steadfast commitment to driving transformation and delivering exceptional performance in the industry.
  • etisalat by e& announced the launch of uTap, a powerful payment solution that revolutionises the way businesses manage their payments and streamlines operations, in collaboration with Network International LLC and Mswipe Technologies.

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