UAE: E&'s H1 net profit jumps 60.7% to Dh8.8b on global tech push

01/08/2025 06:41 AST

E& Group on Thursday reported a robust 60.7 per cent year-on-year increase in consolidated net profit to Dh8.8 billion for the first half of 2025, underlining its strong execution across a diversified global portfolio and strategic investments in AI, cloud, 5G and fintech.

The Abu Dhabi-based technology conglomerate also posted a 23.3 per cent rise in consolidated revenue to Dh34.9 billion during the period, supported by broad-based growth across its UAE, international, enterprise and digital lifestyle verticals.

Second-quarter figures further highlighted e&'s upward trajectory, with revenue climbing 28.1 per cent to Dh18 billion and net profit rising 9.7 per cent to Dh3.5 billion. Earnings before interest, tax, depreciation and amortisation (Ebitda) reached Dh15.4 billion in H1, reflecting an 18.8 per cent year-on-year gain with a margin of 44.1 per cent.

The group's global subscriber base expanded to 198 million, up 13.1 per cent from H1 2024, while UAE subscribers rose to 15.5 million amid rising demand for high-speed connectivity and AI-powered digital experiences.

Jassem Mohamed Bu Ataba Alzaabi, chairman of e&, said in a statement that the group's outstanding performance reflected its strategic foresight and commitment to long-term value creation. "Our landmark Sovereign Cloud Launchpad initiative with AWS and the Cybersecurity Council marks a leap in advancing the UAE's digital sovereignty. We are enabling national ambitions around secure AI and cloud innovation," he said.

CEO Hatem Dowidar noted that the Group preserved growth momentum across all verticals, including a series of transformative milestones such as the divestment of Khazna and a partial exit from Airalo. "These steps enhance our financial flexibility while accelerating our strategic pivot into AI, 5G and enterprise services," he said.

e& UAE continued to lead regional telecom benchmarks, with fibre-to-the-home coverage hitting a global record of 99.5 per cent. The operator maintained its No.1 global ranking in mobile download speeds, according to Ookla, and launched the region's first commercial 5G network slicing solutions. It also deployed a private 5G network at Emirates Steel Arkan, tested 6 GHz and 600 MHz frequency bands, and published a strategic vision report outlining its roadmap for sixth-generation networks (6G).

New innovations included AI-powered drone inspections for telecom towers and a next-gen connectivity platform integrating hybrid and multi-cloud infrastructure. Partnerships with Microsoft and Careem further extended the Group's enterprise and digital lifestyle ecosystems, including AI-enabled workplace tools and fintech integrations.

In the digital finance domain, e& money tripled gross transaction value and surpassed 1.9 million registered users. Its neobank partner Wio Bank was named the Middle East's best digital bank by Euromoney, and new product launches included digital gold investment via SafeGold and full IBAN support for app users in partnership with First Abu Dhabi Bank.

Entertainment and media arm evision witnessed surging traction, with Starz On surpassing 10 million app installs and doubling its monthly active user base. Exclusive content rights for IPL, UFC and the Asia Cup reinforced its "Home-of-Sports" positioning, while new ventures like shoppable TV and original content production under evision Studios marked a broader push into digital lifestyle engagement. e& enterprise deepened its presence in critical verticals such as healthcare, manufacturing and cybersecurity. New partnerships with Exeed Industries, LifeBot and Infobip supported industrial IoT, virtual health and customer engagement, while certification of OneCloud to ISO/IEC 27001:2022 standards underscored its enterprise-grade security credentials.

The enterprise division was also recognised by IDC MarketScape as a "Leader" in Gulf Countries Colocation Services and a "Major Player" globally in CPaaS. In healthcare, the launch of Orva, the world's first AI voice assistant for operating rooms, in collaboration with RAIN Technology, demonstrated e&'s growing influence in AI-enabled medical innovation. On the global front, the acquisition of Serbia Broadband (SBB) enhanced e&'s European footprint.

With 700,000 subscribers across fixed internet and pay-TV, the move strengthened the Group's position in the Balkans. Meanwhile, its Yettel brand continued gaining traction in Hungary, Bulgaria and Serbia through integrated digital offerings and bundled telecom-banking experiences. Mobily, the Group's Saudi affiliate, recorded a 26 per cent increase in brand value year-on-year to $2.7 billion, and launched major digital infrastructure projects worth over SAR 3.4 billion.

In Morocco, the expansion of a fibre and 5G joint venture with Inwi and in Egypt, the launch of 5G and digital remittances via e& cash, marked further regional milestones. Pakistan's PTCL Group, part of e&, expanded its FTTH base and completed the landing of the Africa-1 Submarine Cable, enhancing the country's global connectivity. In Saudi Arabia, Mobily also announced loyalty integration with flynas and digital upgrades in collaboration with the Ministry of Hajj and Umrah.

Brand Finance named e& the world's Fastest Growing Brand in 2025, with a portfolio value exceeding $20 billion and a Brand Strength Index score of 84.6. The Group also earned the top-tier "S Class" AI designation under the Dubai AI Seal for responsible AI innovation.

Khaleej Times