e& reports consolidated revenue of AED 13.0bln in Q1 2023

e& reports consolidated revenue of AED 13.0bln in Q1 2023

Abu Dhabi, UAE: e& announced its consolidated financial results for Q1 2023.

e&’s consolidated revenues reached AED 13.0 billion. At constant exchange rates, revenue increased by 6.6 per cent. Consolidated net profit recorded AED 2.2 billion while consolidated EBITDA reached AED 6.2 billion, resulting in an EBITDA margin of 48 per cent.

In the UAE etisalat by e& recorded 13.9 million subscribers an increase of 6 per cent compared to the same period of last year, The Group’s aggregate subscribers reached 164 million, a YoY increase of 3 per cent.

The Group's focus on expanding its digital offering and launching innovative new solutions and partnerships with leading technology companies around the world as part of its drive to become a global technology player has driven business growth.

Through a series of prudent mergers and acquisitions, e& is strengthening its position focused on delivering innovative solutions and driving digital transformation.

The financial performance in Q1 2023 further strengthened e &'s global position as the most valuable telecoms brand portfolio in the Middle East and Africa, according to 2023 Brand Finance, while the Group's largest telecoms brand, etisalat by e&, continued to deliver outstanding innovative services as one of the three top telecoms brands in the world,