e& has announced exceptional financial performance for FY 2024, reporting a consolidated net profit of AED10.8 billion ($2.94 billion), reflecting a 4.3% year-over-year increase. The group’s revenues grew by 10.1% to AED59.2 billion ($16.12 billion), driven by growth across all business verticals, including its robust subscriber base expansion.
The company’s EBITDA rose by 2.7% YoY at constant exchange rates, reaching AED26.5 billion. Subscriber growth also remained strong, with e& UAE surpassing 15 million subscribers, an increase of 5.4% from 2023. The group’s total subscriber base reached 189.3 million, an 11.7% increase.
Earnings per share increased by 4.3% to AED1.24, up from AED1.18 in 2023. The company continues to focus on long-term growth, innovation, and value creation, while delivering consistent returns to shareholders. As part of its 3-year progressive dividend policy, e& will raise the dividend by AED0.03 annually, with a target of AED0.89 per share by FY 2026.
Chairman Jassem Mohamed Bu Ataba Alzaabi highlighted e&’s growth, driven by AI-driven innovation and digital empowerment. The company also expanded into Europe, marking a significant milestone with the acquisition of PPF Telecom’s assets in Central and Eastern Europe, adding over 10 million subscribers.
Hatem Dowidar, Group CEO, emphasized that e&’s focus on AI, cloud capabilities, and strategic acquisitions, such as GlassHouse, further strengthens its leadership in enterprise digital transformation. The company remains committed to creating scalable digital solutions, fostering innovation, and empowering societies globally.
As e& continues its journey of expansion, it is poised to lead digital transformation, driving progress across continents with its bold vision and continued investments in AI and technology.
