e& reports consolidated net profit of $1.3bln for H1 2022, up 2.5%

e& reports consolidated net profit of $1.3bln for H1 2022, up 2.5%

Abu Dhabi: e& (formerly known as Etisalat Group) today announced its financial results for H1 2022.

e&'s consolidated revenues reached AED 26.3 billion, while consolidated net profit was AED 4.9 billion, a year-over-year increase of 2.5 percent. At constant exchange rates, revenue increased by 3.8 percent. Consolidated EBITDA remained steady in reporting currency at AED 13.4 billion, while increased by 4.1 percent in constant currency, resulting in an EBITDA margin of 51 percent.

The number of etisalat by e& subscribers in the UAE reached 13.3 million in H1 2022, representing an increase of 10 percent over the same period last year, while aggregate group subscribers reached 160 million, a 2.5 percent increase. The Board approved interim dividend of 40 fils per share for H1 2022 Since e&’s evolution into a global technology and investment conglomerate earlier this year, the company has continued its journey with steady progress in creating innovative solutions using next-generation technologies and pursuing strong local, regional and international mutually beneficial partnerships that create value and benefit our customers, enterprises and communities.

Commenting on the H1 2022 results, Jassem Mohamed Obaid Bu Ataba Alzaabi, Chairman of e&, said, "e&’s performance during the first half of the year demonstrates our unwavering commitment,