e& revenue reached AED 38.1 billion during the first half of 2026, reflecting an 11.6% year-on-year increase as the technology group continued to strengthen its core business, expand digital services, and accelerate AI driven innovation.

The company also reported consolidated net profit of AED 6.0 billion for H1 2026, representing 2.4% year-on-year growth after excluding the gain from the sale of Khazna and the Maroc Telecom settlement recorded in H1 2025.

Meanwhile, EBITDA increased 13.1% year-on-year to AED 17.7 billion, delivering a strong EBITDA margin of 46.5%. The Group also announced an interim dividend per share of 47.5 fils, up 10.5% compared to the same period last year.

Additionally, the Group’s total subscriber base grew 30.4% year-on-year to 251.5 million, while e& UAE subscribers increased 6.4% to 16.5 million.

According to the company, e& revenue growth was supported by increasing demand for advanced connectivity, digital solutions, AI enhanced services, and continued investments in technology infrastructure across its regional and international operations.

Following a strategic review of its investment portfolio, e& completed the sale of its entire stake in Vodafone Group Plc. The transaction generated gross cash proceeds of AED 21.9 billion (USD 5.95 billion) and a net cash return of AED 4.8 billion (USD 1.3 billion).

The Group also completed the sale of 12.5% of its 50.03% stake in Careem Technologies to Uber for AED 367 million (USD 100 million), further sharpening its focus on strengthening core businesses.

For the second quarter of 2026, consolidated revenue reached AED 19.2 billion, up 8.7% year-on-year. Net profit remained stable at AED 3.1 billion, while EBITDA increased 9.8% to AED 9.0 billion.

Commenting on the results, H.E. Jassem Mohamed Bu Ataba Alzaabi, Chairman of e& Group, said the company’s performance reflects the success of its strategy built on strong core businesses, continued technology investments, and advanced digital solutions. He added that the Vodafone stake sale strengthened the Group’s financial position while supporting long term shareholder value.

Masood M. Sharif Mahmood, Group Chief Executive Officer of e& Group, said the company demonstrated resilience despite regional and global challenges. He noted that diversified operations, disciplined capital management, AI integration, and a strong operating model enabled sustained financial growth and continued expansion of digital infrastructure.

He added that e& maintained service continuity, strengthened network readiness, supported remote work and education ecosystems, and continued providing reliable digital infrastructure for consumers, enterprises, and government entities.

Looking ahead, e& revenue growth is expected to remain supported by ongoing investments in AI, connectivity infrastructure, digital transformation, and strategic portfolio optimisation as the Group continues to expand its leadership across regional and international markets.

Related post

View all