UAE telco du’s 2022 revenue hits Dh12.75b on 5G demand, more mobile subscribers

UAE telco du’s 2022 revenue hits Dh12.75b on 5G demand, more mobile subscribers

Dubai: An 8.9 per cent rise in mobile service subscribers and demand for its broadband ensured UAE telecom du record Dh12.75 billion in 2022 revenues, up 9.2 per cent. Plus, there continues to be sustained demand for 5G handsets and with it related – and premium – subscriber services. The du Board of Directors is recommending an increase in full-year dividend to 24 fils per share. (Shareholders received 11 fils a share were paid as an interim dividend in August last.) The full-year 2022 dividend represents a 14.3 per cent increase and a distribution of 99.1 per cent of net profit after appropriation for statutory reserves. du delivered a net profit of Dh1.22 billion (against Dh923 million in 2021) and an operating free cashflow of nearly Dh3 billion. "Notwithstanding sustained investments, our business remains highly cash generative and our balance sheet solid with AED 5.3 billion in available liquidity," said Malek Sultan Al Malek, Chairman. According to Fahad Al Hassawi, CEO, “In 2022, we accelerated the recovery that we initiated the previous year. Our new mobile products such as unlimited mobile data plans helped us reverse the declining trend in our mobile business. "Our new fixed-home wireless services have been