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e&, formerly known as Etisalat Group, announced its financial results for Q3 2022. The telco’s consolidated revenues reached AED 13 billion, an increase of 5.5% at constant exchange rates. Consolidated net profit was AED 2.5 billion, a YoY increase of 1.9%. At constant exchange rates, its revenue increased by 5.5%.

The number of etisalat by e& subscribers in the UAE reached 13.3 million in Q3 2022, representing an increase of 11% over the same period last year, while aggregate group subscribers reached 162 million, a 4% increase.

e& Financial Highlights for Q3 2022

e&’s solid performance underpins the ongoing progress of the Group’s ambitious plans since it entered a new chapter of its journey as a global technology and investment conglomerate earlier this year. The establishment of focused business pillars as part of its transformation journey has contributed to its organizational agility and allowed for strong strategic partnerships, as the Group continues to explore the diversification of its local and international portfolios.

e& Group CEO Hatem Dowidar said: “e&’s performance in Q3 2022 reflects our unwavering commitment to accomplishing more for the benefit of our customers, shareholders and the communities we serve. We are focusing our efforts on adopting flexible and agile business models that fuel our growth through innovation and creating new value propositions. Given that e& was built on strong foundations, we remain confident in leading change for growth by reinforcing our commitment to enhancing the quality of our innovative solutions to meet and surpass our customer expectations through the accelerated digitalization seen in the business landscape. We will continue our efforts to seize new growth opportunities and pursue strong partnerships that will ultimately maximize the potential of a holistic digital transformation for our customers and the societies we serve.”

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“Our resilience to spearheading digital transformation journeys will be enhanced as we drive value from our core, build a stronger regional footprint leadership, grow our adjacencies organically and achieve exemplary results for the benefit of all,” concluded Dowidar.

Here are some of e&’s key operational highlights and developments for Q3 2022:

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