TeleGeography Logo

Q2 sales down 1.7% at e&

2 Aug 2022

e& (formerly Etisalat Group) has reported second quarter revenues of AED13.0 billion (USD3.5 billion), down 1.7% year-on-year, impacted by exchange rate volatility in Egypt, Pakistan and Morocco. At constant exchange rates, revenues would have risen by 4.2%, it said.

Consolidated EBITDA was stable at AED6.6 billion, while net profit after federal royalty was up 1.5% y-o-y at AED2.4 billion. The profit increase was attributed to higher income from associates, lower depreciation and amortisation expenses, and lower minority interest, which offset the impact of forex losses, higher interest expenses and a regulatory fine in Morocco.

The group, which has operations across the Middle East, Africa and Asia, claimed 160 million subscriptions at the end of June 2022, up 2.5% in twelve months. There was strong customer take-up in Egypt, UAE, Burkina Faso, Chad, Benin, Cote d’Ivoire and Pakistan.

United Arab Emirates, e& (formerly Etisalat Group)

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.


TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.