e& posts 11.6% revenue growth to Dhs38.1 billion in H1

e& Group recorded strong growth in its consolidated revenue during the first six months of this year, reaching Dhs38.1 billion, an increase of 11.6 per cent compared with the same period last year.

The positive momentum was reflected in the Group’s consolidated net profit, which reached Dhs6 billion, representing growth of 2.4 per cent compared with the first half of last year, excluding the impact of the Maroc Telecom settlement and proceeds from the sale of the Group’s stake in Khazna during the first half of 2025.

Earnings before interest, tax, depreciation and amortisation (EBITDA) reached Dhs17.7 billion, up 13.1 per cent year-on-year, resulting in an EBITDA margin of 46.5 per cent.

The financial performance was supported by continued growth in the Group’s total subscriber base, which increased by 30.4 per cent to 251.5 million subscribers. The number of e& UAE subscribers reached around 16.5 million, up 6.4 per cent compared with the first half of last year, reflecting growing customer demand for the Group’s portfolio of services and solutions, its ability to meet increasing demand for advanced telecommunications infrastructure, and its delivery of unique AI-enabled digital experiences for individuals and businesses.

Following a comprehensive strategic review of the Group’s international investment portfolio after the end of the second quarter, e& successfully completed the sale of its entire stake in Vodafone Group.

The transaction generated gross cash proceeds of Dhs21.9 billion and a net cash gain of around Dhs4.8 billion. The Group also completed the sale of 12.5 per cent of its 50.03 per cent stake in Careem Technologies to Uber for a total consideration of Dhs367 million.

Jassem Mohamed Bu Ataba Alzaabi, Chairman of e& Group, said, “Our results today confirm that the Group is making steady progress towards leading the digital future. We have successfully navigated regional and global challenges with agility and transformed them into real and sustainable opportunities for business growth.

“Our financial performance in the first half of 2026 reflects the success of our strategy, which is built on the strength of the Group’s core business portfolio, alongside our continued investments in technology infrastructure and advanced digital solutions. This has provided us with a solid foundation to sustain growth and reinforce our leadership across regional and international markets, as demonstrated by consolidated revenue of Dhs38.1 billion in the first half of 2026.

“The continuous and rigorous assessment of our international investments is one of the key pillars through which we maintain the Group’s financial strength, ensuring the highest value and returns for shareholders.

“Supported by the vision of the UAE’s wise leadership, e& will continue to play its role in shaping the digital landscape and advancing social and economic progress. We will move forward in strengthening our position and exploring new technological frontiers, building on solid foundations to ensure sustainable growth and reinforce our role as a trusted partner in enabling comprehensive digital transformation and delivering innovations that enhance the UAE’s position on the global technology map.”

Masood M. Sharif Mahmood, Group Chief Executive Officer of e& Group, said e& demonstrated the strength of its operating model and its high level of adaptability during the first half of 2026.

He attributed the results to proactive risk management, the diversification of the Group’s investment portfolio across telecommunications and digital solutions, and the integration of innovative artificial intelligence applications, reinforcing shareholder confidence in the Group’s ability to lead the digital future.

He added that the Group’s strategy for sustainable growth is based on strengthening and enhancing its operating model to ensure it remains aligned with regional and global developments, while delivering strong returns that reflect efficient capital management and flexibility in asset rotation.

He said the Group’s strong financial position enables it to seize promising opportunities and continue developing future-ready digital infrastructure.

WAM