Press releases, Reports & Disclosures for Emirates Integrated Telecommunications Company PJSC

du, a leading Telecom and Digital Services Provider in Dubai, has revamped its Business-to-Business (B2B) portfolio to enhance digital capabilities for businesses across the UAE. The company introduced two new sub-brands, du Tech and du Infra, as part of its digital transformation strategy. du Tech focuses on advanced ICT solutions, targeting sectors like government and large enterprises with services such as data centers, hybrid cloud, cybersecurity, IoT, AI, and blockchain. du Infra provides robust network infrastructure, ensuring secure and efficient data flow for businesses and government agencies. The CEO of du, Fahad Al Hassawi, emphasized the company's evolution from a connectivity provider to an integrated digital services enabler, aiming to lead the digital transformation in the UAE. The new portfolio is designed to foster innovation and create dynamic digital ecosystems, allowing customers to shape their own digital futures.

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.