Financial Highlights


Financial Highlights for Q1 2022

  • Aggregate subscriber base reached 159 million, representing a year over year increase of 2.0%
  • Consolidated revenues for the first quarter amounted to AED 13.3 billion, representing an increase of 0.8% year over year. At constant exchange rates, revenue increased year over year by 3.5%
  • Consolidated EBITDA for the first quarter amounted to AED 6.8 billion, representing an increase of 0.5% year over year and resulting in EBITDA margin of 51%. At constant exchange rates, EBITDA increased year over year by 2.8%
  • Consolidated net profit after Federal Royalty amounted to AED 2.4 billion, increasing year over year by 3.6%, and resulting in a net profit margin of 18%
  • Consolidated capital spending excluding spectrum costs amounted to AED 1.3 billion, representing a year over year increase of 25% and 10% capital intensity ratio
  • Operating free cash flow, excluding spectrum costs amounted to AED 5.5 billion, representing a 4% decrease year over year

Key Developments in Q1 2022

  • e& shareholders approved to distribute a full year cash dividend of 80 fils per share for the fiscal year 2021 at the General Assembly Meeting held on 5 April 2022
  • e& completed the acquisition of elGrocer, strengthening its Smiles online marketplace
  • e&'s E-Vision and ADQ signed a binding agreement to acquire circa 57% of STARZPLAY ARABIA
  • e& announced discussions with Mobily regarding a potential offer to increase its shareholding in Mobily
  • e& partnered with ADQ, Alpha Dhabi Holding and First Abu Dhabi Bank (FAB) to launch a new digital banking platform 'Wio'
  • Etisalat was ranked as the world's strongest telecom brand by Brand Finance, the first in the Middle East and Africa region to achieve this recognition
  • e& and Microsoft expanded its collaboration on digital transformation
  • e& partnered with Meta to drive innovation with enhanced digital experiences and conversational commerce in its digital communication projects
  • Etisalat UAE extended its tie-up with Amazon Web Services (AWS) to serve key industries and meet the growing demand for digitalisation
  • e& enterprise partnered with NICE to bring the CXone cloud platform to the UAE
  • Etisalat Misr and Honeywell signed an MoU to offer new services and products in the field of IoT and smart cities.
Key Figures

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