Revenue Increases by 10.1% as Subscriber Base Expands
Abu Dhabi, February 26, 2025 – e& has achieved a record-breaking financial performance in 2024, reporting a net profit of AED 10.8 billion, a 4.3% increase compared to the previous year. This growth reflects the company’s ongoing transformation into a global technology leader.
According to e&, its consolidated revenue for 2024 reached AED 59.2 billion, marking a 10.1% year-over-year increase, or 12.6% in constant exchange rates. The company’s EBITDA also rose by 2.7%, reaching AED 26.5 billion, driven by growth across all business segments.
Growing Subscriber Base and Market Expansion
e& UAE continued to expand, with its subscriber base surpassing 15 million, a 5.4% increase from the previous year. Across all regions, the total subscriber count grew to 189.3 million, reflecting an 11.7% rise compared to 2023.
The company made significant investments in AI, cloud computing, and digital transformation, further strengthening its global footprint. A key highlight of the year was e&’s expansion into Central and Eastern Europe through the majority acquisition of PPF Telecom’s assets, adding over 10 million new subscribers in Bulgaria, Hungary, Serbia, and Slovakia.
Additionally, e& acquired GlassHouse, expanding its cloud, data, and SAP services in Türkiye, South Africa, and Qatar, reinforcing its leadership in enterprise digital transformation.
Dividend Growth and Shareholder Returns
To reward shareholders, e& introduced a three-year progressive dividend policy, increasing dividends by 3 fils (AED 0.03) per year for 2024, 2025, and 2026. By 2026, the dividend per share (DPS) is expected to reach AED 0.89.
For 2024, the board proposed a cash dividend of 41.5 fils (AED 0.415) per share for the second half of the year, bringing the total annual dividend to 83 fils (AED 0.83) per share.
Leadership Insights and Future Vision
Jassem Mohamed Bu Ataba Alzaabi, Chairman of e&, emphasized the company’s commitment to AI-driven innovation, digital expansion, and economic growth. He highlighted e&’s role in building the UAE’s digital future, fostering technological advancements, and supporting workforce upskilling.
“We are leveraging AI and intelligent platforms to drive economic progress and empower businesses. Our leadership in Emiratisation and digital expertise development ensures that we build the next generation of global innovators,” he said.
Hatem Dowidar, Group CEO of e&, echoed this sentiment, stating:
“In 2024, we accelerated our transformation as a Global Technology Group, expanding into Europe, scaling AI, and making strategic acquisitions. With revenues exceeding AED 59.2 billion, we continue to drive innovation and create lasting impact.”
Looking ahead, e& aims to lead digital transformation across industries, governments, and communities, investing in AI-driven solutions, smart networks, and scalable digital platforms. The company remains focused on fostering digital inclusion, pioneering new technologies, and expanding its global reach.
Conclusion: A Future-Ready Digital Powerhouse
With a brand portfolio and investments exceeding $20 billion, e& has been recognized as the “World’s Fastest Growing Brand”. As it moves forward, the company is committed to pushing boundaries, driving AI advancements, and ensuring that technology serves as a force for positive global change.
e& continues to strengthen its market leadership, delivering sustainable value to customers, shareholders, and communities worldwide.
