Financial Highlights


Financial Highlights for Q3 2022

  • Aggregate subscriber base reached 162 million, representing a year over year increase of 4%
  • Consolidated revenues for the third quarter amounted to AED 13.0 billion, representing a decline of 2% year over year. At constant exchange rates, revenue increased year over year by 6%
  • Consolidated EBITDA for the third quarter amounted to AED 6.7 billion, stable year over year and resulting in EBITDA margin of 52%. At constant exchange rates, EBITDA increased year over year by 7%
  • Consolidated net profit after Federal Royalty amounted to AED 2.5 billion, increasing year over year by 2%, and resulting in a net profit margin of 19%
  • Consolidated capital spending amounted to AED 1.6 billion, representing a year over year decrease of 41% and 12% capital intensity ratio. Excluding spectrum and license acquisitions, capital spending declined by 2%
  • Operating free cash flow amounted to AED 5.1 billion, representing a 27% increase year over year

Key Developments in Q3 2022

  • E-Vision, a subsidiary of e&, and ADQ, an Abu Dhabi-based investment and holding company, successfully completed the acquisition of 57 percent of Starzplay Arabia, a subscription video on demand (SVSOD) and streaming service provider in the Middle East and North Africa.
  • e& entered into a multi-year strategic partnership with Abu Dhabi Motorsports Management as a founding partner of Formula 1 Etihad Airways Abu Dhabi Grand Prix, the Middle East’s largest sporting event.
  • etisalat by e& in the UAE announced the successful completion of its first trial of the 6GHz spectrum, opening up a world of possibilities for next-generation technologies and economies of the future.
  • e& capital disclosed its USD 250 million Venture Capital fund announcing its first two deals. e& capital will further drive the tech ecosystem through larger investments at the growth stage beyond its VC fund.
  • e& enterprise completed its acquisition of Smartworld which has been rebranded to “e& enterprise IoT and AI”.
  • eWallet was rebranded into e& money aiming to revolutionise the customer experience through its innovative financial super app marketplace.
  • e& enters the metaverse with the launch of its virtual world e& universe, leveraging its 5G technology.
  • e& enterprise announced the launch of engageX, a growing Communications Platform as a Service (CPaaS) ecosystem that customises any end-user customer experience journey with seamless, multi-channel communications.
  • e& international partnered with AIG, to build a unique digital insurance offering across select markets, where the product is accessed through various digital channels, including mobile apps.
  • e& and MoneyGram International announced an expansion of their strategic partnership enabling e&'s large and fast-growing customer base to send and receive money through mobile wallets across its footprint in near real-time.
  • Third quarter witnessed continuation of unfavourable currency depreciation of the Euro, MAD, PKR, and EGP against AED.
Key Figures

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