UAE telecoms and technology company e&, formerly known as the Etisalat Group, reported a 60.7 per cent jump in net profit during the first half of 2025 amid a surge in subscribers.
Net profit attributable to owners of the company during the first six months of the year rose 60.7 per cent to Dh8.8 billion ($2.4 billion), up from Dh5.4 billion in the same period last year, the company said in a statement on Thursday to the Abu Dhabi Securities Exchange, where its shares are traded.
Revenue for the telecoms operator reached Dh34.9 billion in the first half of 2025, up 23.3 per cent annually from Dh28.3 billion in the same period last year.
The company's UAE subscriber base grew 6.3 per cent annually to 15.5 million, driven by rising demand for advanced connectivity and AI-powered services. Meanwhile, total subscribers rose 13.1 per cent on an annual basis to 198 million.
In the UAE, the mobile customer base reached 13.8 million by the end of the second quarter, an increase of 7.2 per cent year-on-year as the company continued to expand its postpaid and prepaid segments. These segments grew year-on-year by 8.9 per cent and 6.6 per cent, respectively.
Broadband customers inched up by 0.4 per cent on an annual basis, reaching 1.4 million subscribers.
group chief executive of e&
"We preserved the momentum witnessed across our different verticals. Our diverse revenue streams enabled the group to drive financial success and deliver robust operational growth," said Hatem Dowidar, group chief executive of e&. "As we look ahead, we remain focused on enabling future technologies."
The company, based in Abu Dhabi, was founded in 1976 and is the UAE's oldest telecoms business. Its board of directors has approved an interim dividend per share of 43 fils for the first half of 2025.
Capital expenditure, excluding licence and spectrum, totalled Dh4.2 billion, e& said. Earnings before interest, tax, depreciation and amortisation (Ebitda) rose by 18.8 per cent annually to Dh15.4 billion, which the company attributed to higher revenue.
Net profit attributable to owners of the company during the second quarter of the year increased to Dh3.47 billion, up from Dh3.1 billion in the same period last year.
Revenue rose 28.1 per cent year-on-year to Dh18 billion, fuelled by strong momentum across all verticals, the company said. Ebitda for the second quarter climbed 22.2 per cent year-on-year to Dh8 billion.
"This growth was supported by solid profitability for telecom verticals in both domestic and international markets with a robust telecom margin of 48.4 per cent," the company said.
