e&: strong financial performance with record subscribers

The UAE telecommunication firm e& announces $820 million for the quarter and $3.65 billion consolidated earnings.

e&, a company that has transcended its origins as a UAE telecommunications giant, has reported impressive financial results for the third quarter of 2023. 

The company achieved consolidated revenues of AED 13.4 billion ($3.65 billion), coupled with a consolidated net profit of AED 3 billion ($820 million). Notably, the number of subscribers has reached an all-time high in the company’s history.

Robust Year-on-Year Growth

These financial figures reflect substantial year-on-year growth, with a 3.3 percent increase in revenue and a remarkable 20 percent surge in profit when compared to the same period in the previous year. 

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also witnessed significant growth, rising by 2.7 percent to AED 6.9 billion.

e&’s strong performance not only demonstrates its financial prowess but also highlights its ability to attract and retain a growing customer base, positioning the company for continued success.