Emirates Integrated Telecommunications Company PJSC reported strong financial results for Q2 2024, with quarterly revenues growing by 7.3% to AED 3.6 billion. The first half EBITDA margin expanded to 44.0%, and net profits increased by 54.2% year-over-year. The Board of Directors approved an interim cash dividend of AED 0.20 per share, a 53.8% increase year-over-year. Key achievements include a strategic partnership with Oracle Alloy in their ICT business. Operating highlights include a 2.9% year-over-year growth in the mobile customer base to 8.2 million subscribers, with postpaid customers increasing by 11.3% to 1.7 million. The fixed customer base grew by 12.7% year-over-year to 630,000 subscribers, driven by new offerings such as Home Wireless Gaming. EBITDA increased by 3.2% to AED 1.6 billion, and net profit rose by 46.3% to AED 581 million. Capex was AED 442 million, and operating free cash flow increased by 10.9% to AED 1.1 billion.

The document is a review report and condensed consolidated financial statements for Emirates Integrated Telecommunications Company PJSC and its subsidiaries, covering the six-month period ending on June 30, 2024.

Emirates Integrated Telecommunications Company PJSC reported a 63% increase in net profit in Q1 2024, driven by a 4.1% revenue increase to AED 3.58 billion and a 16.2% rise in EBITDA to AED 1.59 billion. The company's EBITDA margin expanded by 4.6 points to 44.3%. The launch of "du Pay," a digital financial service, marked a significant step towards diversifying the company's business activities. The company's mobile customer base grew by 5.7% to 8.7 million subscribers, while its fixed customer base rose by 11.1% to 616,000 subscribers. The new royalty and corporate tax regime was also highlighted, and the company re-affirmed its guidance.

The text presents a review report and condensed consolidated financial statements of Emirates Integrated Telecommunications Company PJSC and its subsidiaries for the three-month period ending 31 March 2024. This document is of interest to those involved in finance and investing.

du, a part of Emirates Integrated Telecommunications Company (EITC), has announced the launch of a new fintech solution, du Pay. The app, licensed by the Central Bank of the UAE, offers a range of financial services including international and peer-to-peer money transfers, bill payments, and salary deposits through a unique IBAN for each user. The service is part of the UAE's move towards a cashless economy and digitalization. Available in six languages, du Pay aims to provide a secure and convenient financial ecosystem for all residents. The digital payment sector is projected to reach $3.3 trillion by 2031, and du Pay is expected to capture a significant market share.