In 2024, du achieved its highest-ever financial performance since its inception, marking a significant milestone in its transformation journey. The company’s revenue increased by 7.3%, reaching AED 14.6 billion, with net profit growing by 49.1% to AED 2.5 billion. This performance reflects the successful implementation of a three-year strategy focused on revenue diversification, market segmentation, internal efficiency enhancements, and organizational restructuring.
Fahad Al Hassawi, CEO of du, emphasized that the company’s success was the result of long-term investments, particularly in 5G infrastructure, and a shift to a more agile organizational structure. Over the past three years, du’s approach has involved transitioning from a traditional telecom operator to a comprehensive digital services provider, targeting both enterprise and governmental customers with ICT solutions.
The company has embraced the growth potential in both its core telecom business and emerging ICT services. Despite challenges faced by telecom markets globally, the UAE’s growing population, increasing government spending, and rising tourism have enabled du to maintain strong growth in its core business.
In 2024, du’s entry into the ICT services market allowed it to strengthen its existing relationships with large enterprises and government organizations in the UAE. Its role as a trusted technology partner for these entities has supported its expansion into ICT services, generating new revenue streams while maintaining a healthy balance with its core telecom business.
du’s 5G-Advanced network deployment in the UAE marked another key achievement in 2024, positioning the company as a regional leader in next-generation connectivity. The company was the first in the UAE to launch 5G Voice over New Radio (VoNR) services and complete the rollout of its 5G-Standalone Access (SA) network.
The company’s collaboration with PEACE Cable International Network, extending the PEACE Cable system into the UAE, is expected to enhance network performance and provide secure, high-speed connections across the region. This partnership further solidifies du’s position as a critical player in global connectivity, with plans for a new branch of the PEACE Gulf Extension projected to be ready by 2026.
In addition to infrastructure advancements, du is also embracing artificial intelligence to refine internal operations and strengthen cybersecurity for its business clients. Through partnerships with Microsoft and Oracle, du has integrated AI-driven solutions, such as the Microsoft 365 Copilot and Oracle Alloy, to enhance workplace productivity and bolster the cybersecurity landscape.
Looking forward, du is positioned to continue its growth trajectory, leveraging ICT services, 5G innovation, and AI solutions to support the UAE’s digital economy and strengthen its competitive position in the telecom sector.
