Financial Highlights


Financial Highlights for Q2 2022

  • Aggregate subscriber base reached 160 million, representing a year over year increase of 2.5%
  • Consolidated revenues for the second quarter amounted to AED 13.0 billion, representing a decline of 1.7% year over year. At constant exchange rates, revenue increased year over year by 4.2%
  • Consolidated EBITDA for the second quarter amounted to AED 6.6 billion, stable year over year and resulting in EBITDA margin of 51%. At constant exchange rates, EBITDA increased year over year by 5.5%
  • Consolidated net profit after Federal Royalty amounted to AED 2.4 billion, increasing year over year by 1.5%, and resulting in a net profit margin of 19%
  • Consolidated capital spending amounted to AED 1.8 billion, representing a year over year increase of 13% and 14% capital intensity ratio
  • Operating free cash flow amounted to AED 4.8 billion, representing a 4.1% decrease year over year

Key Developments in Q2 2022

  • e& acquired 9.8% equity stake in Vodafone Group plc ("Vodafone"), in line with e&'s ambition to enhance and develop its international exposure
  • e& and G42 completed the transaction to combine their data centers in the UAE in a new JV under Khazna Data Centers
  • e& launched the region's first Telco NFT collection, highlighting its commitment to advancing tech capabilities
  • e& entered into a strategic three-year alliance with DataRobot to launch an Enterprise AI as a Service (AlaaS) offering to support government and private companies in their digital transformation journey
  • ANRT imposed a penalty on Maroc Telecom for non-compliance with certain instructions relating to local loop unbundling
  • Second quarter witnessed unfavourable currency depreciation of the EURO, PKR , and EGP against AED
  • "etisalat by e&" launched as the new brand identity for Etisalat in the UAE and Egypt
  • e&, du, STC, Zain, and Huawei jointly released IntelligentRAN in the Middle East, which aims to inject intelligence to wireless networks and achieve autonomous driving network in the wireless domain in the future
  • Etisalat Egypt and Telecom Egypt signed commercial and strategic agreements covering infrastructure, access, and voice services, enhancing Etisalat Egypt abilities to provide premium services to customers throughout Egypt over Telecom Egypt's network
  • etisalat by e& launched GoChat Messenger in the UAE, an all-in-one free voice and video calling app, giving customers the flexibility of accessing unique features within one application
  • etisalat by e& collaborated with Amazon to offer eero devices for the first time in the UAE as well as Echo devices
  • PTCL successfully deployed AirPON, Huawei Technologies' innovative Fibre-to-the-Home solution, in its Fiber Access Network
Key Figures

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