e& Reports AED 16.9 Billion in Q1 2025 Revenue, Net Profit Surges 129.9%
e& has announced a robust start to the year, posting a consolidated revenue of AED 16.9 billion for Q1 2025, marking an 18.7% year-on-year (YoY) increase. The Group’s consolidated net profit soared to AED 5.4 billion, reflecting a remarkable 129.9% rise compared to the same period last year. Excluding the impact of its Khazna transaction, net profit rose 19.1% YoY.
EBITDA for the quarter was AED 7.4 billion, up 15.4% year over year, driven by strong operational performance and strategic execution. The Group’s total subscriber base grew to 194.8 million globally, with e and UAE subscribers increasing to 15.3 million.
Hatem Dowidar, Group CEO of e&, highlighted the quarter’s success as a milestone in the Group’s evolution into a global technology leader. “We are building a digital ecosystem that empowers individuals, businesses, and governments. These outcomes are clear proof points of our ambition translating into measurable performance,” he said.
Key Financial Results for Q1 2025:
| Indicator | Q1 2025 | Q1 2024 | Change |
|---|---|---|---|
| Consolidated Revenue | AED 16.9 bn | AED 14.2 bn | +18.7% |
| Net Profit | AED 5.4 bn | AED 2.3 bn | +129.9% |
| EBITDA | AED 7.4 bn | AED 6.4 bn | +15.4% |
| Total Group Subscribers | 194.8 million | 172.6 million | +12.9% |
| UAE Subscribers | 15.3 million | 14.5 million | +5.3% |
e& was also named the “World’s Fastest Growing Brand” by Brand Finance, with a portfolio value surpassing US$ 20 billion and a brand strength score of 84.6.
The Group completed the divestment of its 40% stake in Khazna for USD 2.2 billion, using proceeds to reduce debt and streamline operations.
Operational Highlights
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Strategic Investments: Acquisition of Serbia Broadband by e&’s PPF Telecom, and the successful landing of the Africa-1 submarine cable in Karachi, Pakistan, boosting international connectivity.
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Innovation & AI Leadership: Joint development with IBM of an AI governance framework; collaboration with NYU Abu Dhabi on 6G research.
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Digital Expansion: Careem Technologies reported a 160% YoY growth in GTV; e& money crossed 1 million issued cards.
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Enterprise & Sustainability: e& launched Orva, the world’s first AI-powered OR voice assistant; introduced an AI-powered social and climate platform in partnership with the UNDP and GSMA.
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UAE Initiatives: Launch of Neo Home 1Gbps plans, AI Lab in collaboration with Open Innovation AI, and a Kids SIM Card with parental controls.
The quarter also witnessed strengthened partnerships with Microsoft, Samsung, and Tencent Cloud, underscoring e& UAE’s focus on AI, cloud, and consumer innovation.
Community & Social Impact
e& UAE collaborated with The Butterfly, Zayed University, and Wollongong University to support People of Determination in their career journeys. It also played a leading role in the Fathers’ Endowment campaign during Ramadan, facilitating donations and participating in the Most Noble Number charity auction.
