Emirates Integrated Telecommunications Company PJSC (du) has reported a remarkable 49.7% increase in net profit over the first nine months of 2024, reaching Dh1.90 billion, driven by robust commercial performance and efficient cost management. During the same period, the company’s revenue grew by 6.8% to Dh10.76 billion, as per the latest financial figures released.
In the third quarter of 2024 alone, du achieved a 9.1% growth in topline and a significant 16.9% increase in EBITDA (core earnings), marking its highest EBITDA margin since inception at 48.3%. The quarter also saw the highest quarterly net profit in three years, totaling Dh719 million.
Fahad Al Hassawi, CEO of du, commented on the quarter’s success, stating, “This quarter, we continued to fortify our core connectivity operations while strategically expanding our digital services, positioning du as a leader in integrated digital solutions.” He highlighted the introduction of two new sub-brands, du Tech and du Infra, which are part of the company’s initiative to drive digital transformation across its offerings.
The company also saw its mobile customer base expand by 2.7% year-over-year, now serving 8.3 million subscribers, with 71,000 new additions this quarter and 218,000 over the past year.
Al Hassawi further noted, “Our strong cash generation and robust balance sheet enable us to invest in future growth while delivering substantial returns to our shareholders. With our performance this year, we are on track to meet our financial targets for 2024.”
