Dubai-listed telecom operator Du reported a solid financial performance for the first quarter of 2025, with both revenue and profit increasing due to a rise in its subscriber base and the UAE’s robust economic growth.
Revenue for the quarter, ending March 2025, grew more than 7% year on year to AED 4 billion ($1 billion). The mobile customer base saw a 6% increase, reaching 9.1 million subscribers, with 475,000 new additions. Meanwhile, the fixed customer base grew by 14% to 701,000 subscribers, adding 19,000 new customers.
Profit surged by 20% to AED 722 million ($196 million), with a net profit margin of 19%. Du’s shares closed at AED 8.69 on Monday, reflecting a 47% increase over the past 12 months. The UAE sovereign wealth fund, Emirates Investment Authority, holds a 50% stake in Du.
Capital expenditure for the quarter stood at AED 377 million ($102 million), up from AED 359 million ($97 million) during the same period last year. This spending focused primarily on 5G densification, enhancing indoor coverage, and expanding fiber deployment.
CEO Fahad Al Hassawi emphasized that Du’s strong balance sheet positions the company for expansion into high-growth areas. Additionally, Du recently announced a partnership with US tech giant Microsoft to build a AED 2 billion hyperscale data center, aligning with the Dubai Universal Blueprint for Artificial Intelligence 2024.
