e& reports consolidated net profit of $680mln for Q3 2022, up 1.9%

e& reports consolidated net profit of $680mln for Q3 2022, up 1.9%

ABU DHABI: e& (formerly known as Etisalat Group) today announced its financial results for Q3 2022, reporting consolidated revenues of AED 13.0 billion, while consolidated net profit was AED 2.5 billion, a year-over-year increase of 1.9 percent.

At constant exchange rates, revenue increased by 5.5 percent. Consolidated EBITDA in reporting currency reached AED 6.7 billion, and increased by 6.9 percent in constant currency, resulting in an EBITDA margin of 52 percent.

The number of etisalat by e& subscribers in the UAE reached 13.3 million in Q3 2022, representing an increase of 11 percent over the same period last year, while aggregate group subscribers reached 162 million, a 4 percent increase.

e&’s solid performance underpins the ongoing progress of the Group’s ambitious plans since it entered a new chapter of its journey as a global technology and investment conglomerate earlier this year. The establishment of focused business pillars as part of its transformation journey has contributed to its organisational agility, and allowed for strong strategic partnerships as the Group continues to explore the diversification of its local and international portfolios.

Hatem Dowidar, Group CEO of e&, said, “e&’s performance in Q3 2022 reflects our unwavering commitment to accomplishing more for the benefit of our customers,