e& reported impressive financial results for the fiscal year 2022, achieving a net profit growth of 7.4% while reinforcing its strategic transformation into a global technology and investment group.

Target Company Information

e& has emerged as a leading global technology and investment group, demonstrating remarkable financial performance for the fiscal year 2022. The company reported a consolidated net profit increase of 7.4%, reaching AED 10.0 billion. Its consolidated revenues grew to AED 52.4 billion, showcasing a 4.7% growth year-over-year when adjusted for constant exchange rates. Significantly, the subscriber base saw notable growth, with etisalat by e& attracting 13.8 million subscribers in the UAE, representing an 8.8% increase compared to the previous year.

e&'s evolution over the past year has been fueled by a strategic transformation that prioritizes the embrace of digital innovation, expanding its operations into new business verticals, and diversifying revenue streams. This strategic approach reflects e&'s commitment to leveraging advanced technologies like 5G, artificial intelligence, and the Internet of Things to support continued growth and resilience in a challenging global economic landscape.

Industry Overview in the UAE

The telecommunications industry in the UAE has demonstrated resilience and adaptability in the face of rapid technological advancements and changing consumer preferences. With a robust infrastructure in place, the sector is primed for continued growth, as digital trans