e& H1 revenue climbs 11.6% to Dh38.1b as subscriber base tops 251 million

Dubai: e& reported double-digit revenue growth for the first half of 2026 as its subscriber base expanded sharply across domestic and international markets, while the telecom and technology group continued reshaping its investment portfolio through asset sales.

The Abu Dhabi-based group said first-half consolidated revenue rose 11.6 per cent year on year to Dh38.1 billion, while EBITDA increased 13.1 per cent to Dh17.7 billion, resulting in an EBITDA margin of 46.5 per cent.

Consolidated net profit reached Dh6 billion, up 2.4 per cent after excluding one-off gains from the sale of Khazna and the Maroc Telecom settlement recorded in the first half of 2025.

The company also announced an interim dividend of 47.5 fils per share, up 10.5 per cent from the same period last year.

Subscriber growth

e&'s total subscriber base grew 30.4 per cent year on year to 251.5 million, while its UAE customer base increased 6.4 per cent to 16.5 million subscribers. The company attributed the growth to continued demand for its digital services, connectivity infrastructure and AI-powered offerings across consumer and enterprise markets.

For the second quarter alone, revenue rose 8.7 per cent to Dh19.2 billion, while EBITDA increased 9.8 per cent to Dh9 billion. Quarterly net profit stood at Dh3.1 billion, broadly in line with the same period last year after adjustments.

Portfolio reset

Alongside the results, e& said it had completed a strategic review of its international investment portfolio, leading to the sale of its entire stake in Vodafone Group Plc and the partial disposal of its holding in Careem Technologies.

The Vodafone transaction generated Dh21.9 billion in gross cash proceeds and a Dh4.8 billion net cash return, while the sale of a 12.5 per cent stake in Careem Technologies to Uber raised Dh367 million.

Chairman Jassem Mohamed Bu Ataba Alzaabi said: “Our results today confirm that the Group is making steady progress towards leading the digital future. We have successfully navigated regional and global challenges with agility and turned these challenges into real opportunities for business growth."

The results reflected the company's focus on strengthening its core businesses while continuing to invest in technology infrastructure and digital services, he said, while adding that the disposal of the Vodafone stake formed part of the group's ongoing assessment of international investments to maximise shareholder value.

AI, digital focus

Group Chief Executive Officer Masood M. Sharif Mahmood said: “Despite the recent regional and global challenges, e& demonstrated the strength of its operating model and its ability to adapt throughout the first half of 2026."

He said the group's financial position would allow it to continue investing in future-ready digital infrastructure while maintaining business continuity and supporting governments, businesses and consumers with AI-enhanced digital services.