Consolidated revenues reached AED 53.8 billion, a development of 8.3 per cent year-over-year, at fixed change charges
Board proposes a complete dividend of AED 0.80 per share for FY 2023
Recommends a brand new progressive dividend coverage to deliver the DPS to 89 fils by FY2026
e& introduced its consolidated monetary outcomes for fiscal yr 2023 reporting a report consolidated internet revenue of AED 10.3 billion, a development of three per cent year-over-year.
Underlining the Group’s dedication to worth creation for its shareholders, e&’s Board of Administrators proposes a dividend of AED 0.40 per share for the second half of 2023 representing a complete dividend of AED 0.80 per share for FY2023. As well as, the board advisable a brand new progressive dividend coverage with an increment of three fils yearly ranging from yr 2024, bringing the DPS to 89 fils by FY2026. This proposal is topic to shareholders’ approval on the Annual Common Assembly.
(*) At fixed change charges, income elevated by 8.3 per cent and EBITDA elevated by 3.7 per cent year-over-year.
Consolidated revenues reached AED 53.8 billion, a development of 8.3 per cent year-over-year, at fixed change charges, underpinned by the Group’s profitable enterprise transformation, increasing the enterprise verticals and diversifying the income streams.
Furthermore, consolidated EBITDA elevated by 3.7 per cent year-over-year at fixed change charges, to AED 26.1 billion, resulting in an EBITDA margin of 49 per cent, highlighting the robust profitability of e&’s operations.
Reporting robust development in subscriber base, e& UAE recorded greater than 14 million subscribers a rise of three per cent in comparison with the earlier yr, and the Group’s combination subscribers reached 169 million, a rise of 4 per cent over 2022.
Underlining the Group’s dedication to worth creation for its shareholders, e&’s Board of Administrators proposes a dividend of AED 0.40 per share for the second half (July to December) of 2023 representing a complete dividend of AED 0.80 per share for FY 2023.
Chairman of e&, H.E. Jassem Mohamed Bu Ataba Alzaabi, stated: “In 2023, e& grew from power to power. We led technology-driven improvements, navigated difficult world market situations, and emerged stronger, additional solidifying our place as a number one world know-how participant. Our sturdy monetary efficiency with a report internet revenue of AED 10.3 billion, and robust top-line development of three per cent is a testomony to our resilience and setting e& on the appropriate path for future development.”
“We proceed to be impressed by UAE management; their willpower to push boundaries units a outstanding instance of what’s potential when a transparent imaginative and prescient aligns with excellence in execution. Equally, our dedication to creating e& an embodiment of innovation, progress, and development stays unwavering. Our imaginative and prescient is grounded within the twin targets of delivering sustainable enterprise development and pioneering digital transformation applied sciences. From cementing our diversified enterprise pillars to introducing new, impactful services and products, we’re dedicated to empowering our 169 million subscribers throughout our operations,” H.E. Alzaabi added.
Hatem Dowidar, Group Chief Govt Officer of e&, stated: “The robust monetary efficiency achieved by e& in 2023, with consolidated revenues reaching AED 53.8 billion, a development of 8.3 per cent year-over-year, at fixed change charges, is a powerful testomony to the success of our enterprise transformation technique.
“e& continued to thrive as a frontrunner in MEA, remaining one of many world’s most useful and strongest manufacturers and turning into the fastest-growing know-how model within the area. This highlighted our evolution into a worldwide know-how group supported by the robust efficiency of our model portfolio. We are going to proceed to push our boundaries to be on the forefront of the digital period by growing next-generation digital connectivity and cutting-edge options.”
Dowidar added: “I need to categorical my appreciation to our gifted groups for his or her efforts and revolutionary spirit, which stay the driving power behind our success. We additionally prolong our gratitude to our loyal clients and shareholders for his or her continued belief in our imaginative and prescient. Shifting ahead, I’m assured that our dedication to connecting folks, companies, and communities by means of know-how will proceed to drive sustained future development.”
Key Operational Highlights
In 2023, e& capitalised on each alternative to handle the purchasers present and future wants, delivering next-generation options that allow the profitable digital transformation of industries and produce ease and ease to folks’s lives.
e& has flourished because the crown jewel of Center Japanese and African (MEA) manufacturers. The 2024 Model Finance International 500 Report, confirms e&’s transformation as MEA’s Quickest Rising Know-how Model. The annual report on the world’s most useful and strongest manufacturers highlighted e&’s evolution into a worldwide know-how powerhouse that noticed its TMT model portfolio skyrocket to US$17 billion in 2024 cementing it as probably the most worthwhile TMT model portfolio in MEA, marking the Group’s gorgeous transition from telco to tech-co.
e&’s numerous portfolio and increasing attain, pushed by its core telecoms enterprise, e& UAE, and e& worldwide and the specialised enterprise pillars of e& life, e& enterprise, and e& capital, underscore its dedication to innovation and sustainability. e&’s dedication to next-generation applied sciences, together with AI-driven innovation, cloud companies, cybersecurity, and IoT, positions it on the forefront of the digital period.
e&
e& subsidiary, PTCL, acquired a 100 per cent stake in Telenor Pakistan, creating innovation and market enlargement synergies. (Completion of the transaction stays topic to regulatory approvals and sure closing situations.) e& additionally signed a binding settlement to accumulate PPF Telecom belongings in Europe. Along with turning into the most important shareholder in Vodafone, e&’s strategic agreements included buying a majority stake in Careem’s Tremendous App and finishing the ServiceMarket acquisition. e& can also be the Most Precious Model Portfolio within the MEA area, price over $17 billion, in line with the 2024 Model Finance International 500 Report launched earlier this yr.
In keeping with its sustainability targets, e& dedicated to internet zero Scope 1 and a pair of carbon emissions throughout its operations by 2040. e& launched Mission Life, its sustainable procurements programme, with the aim of lowering Scope 3 emissions by 25 per cent by 2030. As well as, e&’s inexperienced initiatives embrace the Innovation Hub for Energy Options and eco-friendly Inexperienced SIM Playing cards.
e& achieved a brand new 5G milestone at GITEX International 2023 with a obtain pace exceeding 13Gbps, launched the world’s first AI-empowered autonomous telecom retailer ‘EASE,’ and launched the Electrical Car (EV) charging service ‘Cost&Go.’ Collaborations with Ericsson, Earthlink, Intel, and world alliances in AI for telecoms showcase e&’s dedication to technological developments.
On the worldwide entrance, e& joined forces with SK Telecom, Deutsche Telekom, and Singtel to launch a worldwide alliance in AI for telecoms. This alliance will pave the way in which for improvements and co-development of the Telco AI platform. A partnership with Indosat guarantees to enhance voice communication between Indonesia and the UAE by offering high-quality IDD companies.
The Group continued reaffirming its dedication to gender range by means of collaborations with Nokia and UN Girls with the ‘Girls in Management’ programme to extend the variety of ladies in decision-making roles throughout the tech sector.
e&’s achievements have been celebrated on the Provider Group International Awards 2023 by being named ‘Center East Operator of the Yr’ for the third consecutive yr. Its community know-how prowess was additionally recognised with the World Teleports Affiliation’s Tier 4 certification for its Tawi al Saman and Jebel Ali teleports.
For its excellence in governance and greatest follow, the Group’s authorized and compliance workforce gained ‘Center East In-Home Authorized Group of the Yr’ and ‘Know-how, Media and Telecommunications In-Home Authorized Group of the Yr’ on the Thomson Reuters ALB Center East Legislation Awards 2023.
e&’s Investor Relations (IR) workforce gained first place for ‘Finest IR Reporting Digital Class Massive-Cap Center East’ on the 2023 Center East Investor Relations Affiliation (MEIRA) Awards. This prestigious accolade recognises e&’s excellent dedication to enhancing transparency, accessibility, and innovation in its investor communication.
e& UAE
e&’s telecom model within the UAE emerged because the strongest telecoms model on the planet, with a AAA ranking.
Technological milestones embrace finishing the world’s first 1.6Tbps per wavelength trial on Optical Transport Community, the industrial deployment of 5G Standalone (SA) for cell customers, and the profitable 5G SA service launch for Fastened Wi-fi Customers (FWA), enabling seamless voice and knowledge companies throughout UAE.
At COP28, e& UAE was the primary to deploy the primary net-zero 5G Huge MIMO web site within the MENA area, built-in a zero-footprint RAN web site inside its community, and contributed to UAE’s Web Zero by 2050 initiative. Cybersecurity efforts included an alliance with the UAE Cyber Safety Council and the commencement of the primary cohort from the Cyber Sniper Programme.
As an innovator, e& UAE additionally opened a Cell Safety Operation Centre, deployed Microsoft Azure Multi-Entry Edge Compute resolution and acquired TM Discussion board Silver certification for Open API compliance, the primary within the MENA area. Noteworthy achievements embrace profitable trials of high-capacity transmission networks, 5G milestones, and implementing the primary 5G SatComs within the area.
The corporate was recognised as ‘Employer of the Yr’ on the GCC HR Awards 2023 and constantly exceeded its Emiratisation goal, with over 53 per cent Emiratisation charge. Digital product and repair diversification led to the expansion of the ‘Smiles’ on-line market, reaching greater than 3.5 million, and ‘GoChat’ tremendous app, reaching greater than 7.5 million downloads.
e& UAE additionally launched ‘uTap’, a cost resolution for SMBs and launched tailor-made options for start-ups and enterprises together with Wi-Fi as a service to enhance enterprise connectivity and continued with its revolutionary platform, ‘Good day Enterprise Pitch’, to assist the rising entrepreneurial ecosystem within the UAE. In alignment with the UAE management’s imaginative and prescient of tolerance and coexistence, the corporate participated in ‘Collectively in Emirates of Zayed’. It launched the ‘5’ app completely for blue-collar employees utilizing the ‘5’ SIM.
Maintaining its community management, e& UAE was ranked no. 1 globally in 5G cell obtain speeds (December 2023) by Ookla.
e& worldwide
e& worldwide, in collaboration with Circles, launched the digital model ‘Onic’ in Pakistan, enhancing digital experiences for Cell Community Operators’ (MNOs) digital-native clients. e& worldwide launched the ‘e& Companion Networks’ programme to assist world telecom operators like Tunisie Telecom, Sudatel, Perfectum Cell, and Azercell Telecom throughout 5 nations (Tunisia, Azerbaijan, Uzbekistan, Sudan, Senegal).
Strategic partnerships, together with Vodafone Enterprise, resulted within the acquisition of a significant buyer and plans to collaborate on software-driven networks for multinational enterprises. etisalat by e& Egypt partnered with the Sovereign Fund of Egypt to launch ‘Erada Microfinance,’ increasing monetary companies for micro and small enterprises. It additionally deployed a Sensible Linked Website to cut back gasoline prices and CO2 emissions by as much as 40 per cent, in addition to lower reliance on fossil fuels.
PTCL and Vodafone initiated a strategic collaboration to develop end-to-end IoT companies, accelerating enterprise digital enablement in Pakistan. e& worldwide, by means of its three way partnership with Circles, launched digital sub-brands, elevating the digital experiences of MNOs’ clients.
e& worldwide additionally established the AI Centre of Excellence (AICoE) for superior analytics, leveraging machine studying and AI options to supply personalised use circumstances to world purchasers in telecoms and different industries. The corporate maintained its management in buyer expertise, securing the primary internet promoter rating (NPS) place in key markets.
e& life
e& life reached new heights in 2023, redefining media, leisure, and digital monetary companies. evision with STARZPLAY continued pioneering MENA leisure, buying unique sports activities rights for main cricketing broadcasts, launching the 24/7 GolfLife channel, and securing unique MENA broadcasting rights for common documentaries. evision additionally unveiled its personal OTT free-to-watch streaming platform, STARZ ON, to deliver regional, Hollywood, Bollywood, English, Arabic, and French content material along with sports activities all without spending a dime. OTT platforms have been launched in Pakistan, and a strategic settlement with WATCH IT expanded STARZPLAY in e& working nations.
e& life, a fintech chief, pledged sustainability with the MENA Fintech Affiliation, becoming a member of META, Mastercard, and Visa. The alliance commits to sustainability integration, audits, consciousness, collaboration on initiatives, and selling sustainable fintech merchandise. e& cash partnered with Mastercard to launch this digital-first pay as you go card, marking it as the primary telco-backed issuance within the UAE. The cardboard gives probably the most rewarding pay as you go card loyalty programme within the UAE, offering clients with a one % money reward on all card spends. Moreover, there was a big development in remittance transactions in comparison with final yr.
e& enterprise
In 2023, e& enterprise confirmed its function to drive the digital transformation panorama within the area with milestones just like the revamp of the e& enterprise Innovation Centre, the launch of the AI as a service proposition, collaborations with the Abu Dhabi Division of Financial Improvement and partnerships with Maxbyte, Al Masraf, Faucet Funds, Snowflake and Informatica strengthening its place in Trade 4.0, manufacturing, knowledge and digital funds.
e& enterprise additionally performed a pivotal function in in advancing sustainability initiatives by launching its ‘sustainability as service’ proposition in partnership with Microsoft and strengthen additional by a partnership with World Large Era (WWG) to launch a worldwide sustainability change platform integrating sustainability knowledge, options, and funds. e& enterprise additionally launched the Sustainability Consultancy Programme providing qualifying organisations a free consultancy and GHG evaluation to advertise and foster sustainable enterprise follow within the area.
e& enterprise was additionally recognised as a significant participant within the IDC Worldwide CPaaS Marketscape Vendor Evaluation for its buyer expertise proposition engageX which has additionally expanded its footprint to serve purchasers in Saudi Arabia.
A JV with Be spin International was additionally accomplished solidifying e& enterprise’s management place within the regional cloud migration area Bespin International was additionally recognised as a Visionary within the Public Cloud IT Transformation Providers.
Buying a majority stake in Beehive, e& enterprise entered the SME lending market whereas UAE Commerce Join (UTC) consortium continues to develop with the addition of non-banking members resembling DP World reaching a complete of 15 members.
Via Assist AG, the cybersecurity arm of e& enterprise, which was recognised as an MSS chief in IDC GCC Marketscape evaluation, the corporate launched UNIFY SaaS platform, expanded to Egypt, and established the most important cyber defence centre within the area.
e& capital
e& capital continued to drive innovation and investments in promising startups, enabling cutting-edge applied sciences. On the forefront of know-how innovation, it participated within the $25 million Collection A funding spherical for Ikigai Labs, a startup dedicated to bringing generative AI to tabular knowledge.
e& capital additionally led a Collection A funding spherical for Maxbyte, driving the trade 4.0 revolution within the MENA area. Moreover, e& capital led a Collection B funding spherical for Airalo, the worldwide eSIM market enabling travellers with seamless connectivity.
In 2023, e& achieved important milestones, marking its profitable evolution into a worldwide know-how firm and sustaining its standing as one of many world’s most useful and strongest manufacturers. The Group’s dedication to excellence, innovation, sustainability and sturdy monetary efficiency exemplifies its management within the fast-changing digital panorama and displays its mission to form a promising future.
Observe Emirates 24|7 on Google Information.