14.2 billion dirhams in revenues "E&" In the first quarter, growth of 9%
Abu Dhabi, April 30 / WAM / The E& Group today announced its consolidated financial results for the first quarter of 2024, as the group recorded an annual growth in consolidated revenues of 9%, reaching 14.2 billion dirhams.
The group’s consolidated net profits also increased to reach 2.3 billion dirhams, with an annual growth rate of 7%, while the group’s consolidated profits before interest, tax, depreciation and amortization increased to reach 6.4 billion dirhams, with an annual growth rate of 3%, which led to a higher pre-profit margin. Interest, tax, depreciation and amortization is calculated at 45%.
At the level of the subscriber base, E&Emirates recorded remarkable growth in the first quarter of 2024, as the number of its subscribers reached 14.5 million, while the total number of the group’s subscribers reached 173 million, an increase of 5% compared to the same period of the year. the past.
His Excellency Jassim Mohammed Buataba Al Zaabi, Chairman of the Board of Directors of E&, said: E& achieved a strong performance during the first quarter of 2024, as its consolidated net profits reached 2.3 billion dirhams, with an annual growth rate of 7%.
This performance was driven by great and continuous efforts made by the group in terms of developing and diversifying its main business pillars, promoting innovation in its various businesses, and building on the achieved legacy of leadership and achievement, in a way that contributes to strengthening its position as a leading global technology group.
During the first quarter of the year, E& was keen to continue its efforts in forming new partnerships across its business system, in addition to its leadership in applying emerging technologies that would contribute to enabling the digital future.
The group also confirms its continued use of the potential of transformative technologies to empower millions of customers around the world by implementing innovative and proactive solutions that support the aspirations of shareholders, and keep pace with the UAE’s trends towards achieving leadership in various digital indicators.”
Hatem Dowidar, CEO of E& Group, said: The financial results for the first quarter of this year demonstrate the size and level of developments and achievements that E& have achieved during its transformation into a global technology group, and at the same time demonstrate the validity of the approach adopted by the group in its work. Which focuses on building and adding to the previous successes achieved; The strong performance achieved by “E&” is a testament to the success of the strategic directions we have undertaken, especially in terms of diversifying our business portfolio, strengthening our brand, and expanding the scope of our strategic partnerships.
He added: We are confident that the strong performance achieved during the first quarter of this year is a starting point towards making further efforts through which we will seek to provide added value to our shareholders, in addition to empowering the individuals and communities in which we exist.
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