Announcing its results for the three-month period ended September 30, 2023, e& said its consolidated net profit hit AED3 billion ($816 million), up 20% over last year. At constant exchange rates, revenue increased by 8% and ebitda increased by 6.9% year-over-year, resulting in a resilient ebitda margin of 51%.

 

The UAE telco said the number of etisalat by e& subscribers in the UAE reached 14 million in Q3, representing an increase of 4.7 per cent over the same period last year, while aggregate group subscribers reached 167 million, a 3.3 percent increase.

 

The world’s first AI-empowered autonomous telecom store ‘EASE’ was introduced as part of the trajectory of innovation using ground-breaking technology to allow customers to seamlessly purchase products and services. e& also took a major step to support electric mobility in UAE with the soft launch of ‘Charge&Go’, an end-to-end holistic EV charging solution. 

 

In line with e&'s commitment to climate action and sustainable community growth, the Group proudly became the ‘Principal Technology Partner’ for COP 28. It has also joined the World Economic Forum's EDISON Alliance to promote global digital inclusion for more than 30 million people in markets the e& serves. 

 

In addition, a collaboration with the UAE Ministry of Education aims to nurture a digital-first mindset among students using next-generation digital tools. Etisalat Academy partnered with Earthlink to launch a telecoms training academy in Iraq focusing on GPON FTTH network systems. 

 

On the global front, e& has joined forces with international giants such as SK Telecom, Deutsche Telekom, Singtel and Indosat to launch a global alliance in AI for telecoms. This alliance will pave the way for new innovations and co-development of the Telco AI platform. A partnership with Indosat promises to improve voice communication between Indonesia and the UAE by providing high quality IDD services.

 

Group CEO Hatem Dowidar said: "e&’s strong performance this quarter is a testament to our resilience, and commitment to deliver value and growth to our customers and shareholders. We will continue our focus on championing innovation to enrich the lives of our customers and make a positive impact across the societies we serve."

 

"We remain committed to lead the change by taking our first steps in sustainable mobility and transforming our business with AI powered solutions while realising our vision of digitally empowering societies," he added.  

 

Dowidar said: "Looking ahead, we will continue to push the boundaries of technology and innovation, while our strong performance serve as a stepping stone toward a future where we continue to pioneer advancements and create even more value for all our stakeholders."

 

"Thanks to our talented teams, loyal customers and shareholders for their continued trust and support to our vision. Together, we are poised for even greater achievements to come in the near future," he added.-TradeArabia News Service