e& announces Q3 2024 earnings with consolidated revenue growth of 10% to AED 14.4 billion

Newest

Inception Program Officially Launched, Led by OpenAI and Microsoft M12 for Global AI Incubation
Inception Program Announces the Creation of the World's First AI Digital Currency Exchange in 2025, with the Upcoming Launch of the First Cryptocurrency "IPC"
Inception Program Builds a New Global AI Incubation Ecosystem: Covering Technology, Data, Capital, and Cryptocurrency Issuance
Global Times: Chinese technology enhances Kenya’s geothermal efficiency, delivers reliable, clean and affordable power to households

In the heart of Rift Valley, located about 10 kilometers from Nakuru county in west Kenya, the country's first geothermal power plant built with 100 percent Chinese technologies, the 35-megawatt (MW) Sosian geothermal power plant, has been running for more than a year.
Global Times: China’s aircraft carriers make confident strides toward blue waters, play pivotal role in national defense

Aircraft carriers are important strategic platforms for China as a major power to defend its national sovereignty, security, territorial integrity and development interests while contributing to peace and stability to the region and the world.
Global Times: 2024 Yearender: China’s space sector soars to new heights, setting new goals

During the 75th International Astronautical Congress (IAC) held in October 2024 in Milan, Italy, a remarkable exhibit of "extraterrestrial material" caught the eyes of international attendees - a grayish, seemingly unattractive piece of dirt, yet it marked the first global display of the first sample collected from the far side of the moon.
Global Times: Chinese photovoltaic tech illuminates Cuban homes, offices, and factories after decades of energy shortages

Sitting in his office in Madrid, Roberto A Paneque Fonseca's thoughts drift thousands of miles across the vast Atlantic Ocean to his home country of Cuba, grappling with a severe blackout that had profoundly affected the lives of its residents.
Global Times: Chinese technology enhances Kenya’s geothermal efficiency, delivers reliable, clean and affordable power to households

In the heart of Rift Valley, located about 10 kilometers from Nakuru county in west Kenya, the country's first geothermal power plant built with 100 percent Chinese technologies, the 35-megawatt (MW) Sosian geothermal power plant, has been running for more than a year.
Global Times: China’s aircraft carriers make confident strides toward blue waters, play pivotal role in national defense

Aircraft carriers are important strategic platforms for China as a major power to defend its national sovereignty, security, territorial integrity and development interests while contributing to peace and stability to the region and the world. In 2024, all three aircraft carriers of the Chinese People's Liberation Army (PLA) Navy made tremendous achievements, as they took confident strides toward blue waters.
Global Times: 2024 Yearender: China’s space sector soars to new heights, setting new goals

During the 75th International Astronautical Congress (IAC) held in October 2024 in Milan, Italy, a remarkable exhibit of "extraterrestrial material" caught the eyes of international attendees - a grayish, seemingly unattractive piece of dirt, yet it marked the first global display of the first sample collected from the far side of the moon.

e& announces Q3 2024 earnings with consolidated revenue growth of 10% to AED 14.4 billion

2024-10-31

e& completes acquisition of controlling stake in PPF Telecom and 100% acquisition of GlassHouse,expanding its footprint to 38 countries

ABU DHABI,UAE,Oct. 31,2024 -- e& today announced its Q3 2024 consolidated financial results,reporting consolidated revenue of AED 14.4 billion,growing 10 per cent year-over-year in constant currency,while consolidated revenues for the first nine months of year 2024 recorded AED 42.7 billion,growing 9 per cent YoY,reflecting continued growth across most verticals.

e& GCEO,Hatem Dowidar

e& completed an important milestone by closing the transaction of PPF Telecom that will enhance the group portfolio diversification while it continues to grow its digital services across enterprise solutions,fintech,and media and entertainment sectors. This diversification will allow it to pursue its strategic ambition of transitioning to a global technology player.

e&'s total subscriber base witnessed a YoY increase of 6 per cent,reaching 177.3 million. The total number of e& UAE subscribers reached 14.7 million,representing a YoY growth of 5 per cent.

Financial Highlights

Q3 2024

Q3 2023

9M 2024

9M 2023

Revenue

AED 14.4 billion

AED 13.4 billion

AED 42.7 billion

AED 40.0 billion

Net Profit

AED 3 billion

AED 8.5 billion

AED 7.7 billion

EBITDA

AED 6.5 billion

AED 6.9 billion

AED 19.4 billion

AED 19.6 billion

Earnings per Share

AED 0.34

AED 0.97

AED 0.88

Hatem Dowidar,Group Chief Executive Officer,e&,said: "e& continued its strong momentum in the first nine months,with consolidated revenue growing 9 per cent in constant currency to AED 42.7 billion.

We scaled up e&'s telecom footprint to 20 countries,bringing our overall reach to 38 markets. This growth,coupled with our solid performance in both local and international markets,drove our consolidated net profit to reach AED 8.5 billion growing 10 per cent during the first nine months. Furthermore,consolidated EBITDA reached AED 19.4 billion,resulting in EBITDA margin of 45 per cent,while our telecom EBITDA margin remained resilient at 49%".

"Now that we have completed the acquisition of a controlling stake in PPF Telecom Group,we look forward to the opportunities that will arise as we expand our global horizon,impacting the lives of over 1 billion people across the Middle East,Asia,Africa,and now Central and Eastern Europe—marking our first operational foothold in Europe. By combining our expertise with PPF Telecom's strong local presence,we're well-positioned to drivedigital transformation and empower societies across this region," added Dowidar.

He concluded,"e& remains dedicated to championing the UAE's leadership vision as the country continues to advance its digital agenda as a role model of digitalisation. Our investment in cutting-edge infrastructure and strategic partnerships will ensure that we continue to deliver futuristic solutions and digital services that drive sustainable progress and transformation."

Media Contacts – Nancy Sudheer,Senior Manager at e&,nsudheer@eand.com

e& Q3 2024 Infographic

Disclaimer: This article is reproduced from other media. The purpose of reprinting is to convey more information. It does not mean that this website agrees with its views and is responsible for its authenticity, and does not bear any legal responsibility. All resources on this site are collected on the Internet. The purpose of sharing is for everyone's learning and reference only. If there is copyright or intellectual property infringement, please leave us a message.

Newest

Links

e& announces Q3 2024 earnings with consolidated revenue growth of 10% to AED 14.4 billion

Newest