UAE’s e& says revenue hits $20bn as subscribers grow

UAE telecoms operator e&, formerly known as Etisalat, said revenues and profit grew annually and quarterly, helped by increases in local and global subscribers.

Revenue rose 23 percent last year to AED73 billion ($20 billion), driven by growth in telecom operations and digital businesses (entertainment, fintech and retail), the telco said in a statement to the Abu Dhabi Securities Exchange.

Net profit after federal royalty and corporate tax climbed 34 percent from the year before to AED14.4 billion.

The top line for the last quarter of 2025 climbed 17 percent year on year to AED19 billion, while net earnings reached AED2.5 billion, up 11 percent annually.

The consolidated subscriber base increased 31 percent annually to 245 million. Organically, the group added 15 million subscribers during the last 12 months. In December, e& expanded its base by 43 million subscribers after its subsidiary in Pakistan completed the acquisition of Telenor Pakistan.

Annual capital expenditure, excluding licences and spectrum, reached AED11 billion due to investments in new technologies and the continuous expansion of telecom networks to support business growth, the statement said.

Operating free cash flow, excluding licences and spectrum, increased 14 percent annually to AED21 billion.

Further reading:

• Unit of e& buys Norway’s telecoms subsidiary in Pakistan
• Growing subscriber base drives up e& profit and revenue
• Unit of UAE’s e& to buy Slovakian broadband operator

The board proposed a final dividend of 47 fils per share for the second half of 2025, bringing the total payout to 90 fils, an increase of 8.4 percent year on year.

In a separate filing, the company said Masood Mohamed Sharif will become group CEO effective April 1, after Hatem Dowidar resigned after six years in the role.

Sharif will remain chief executive of e& UAE.

Shares in e& closed 0.8 percent higher at AED21.36 on Tuesday, rising 16 percent year-to-date.

The Emirates Investment Authority owns 60 percent of the telecom operator.