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Exchange rates hit e& results in Q3

2 Nov 2022

e& (formerly Etisalat Group) has reported revenues of AED12.97 billion (USD3.53 billion) for the third quarter of 2022, down 2.4% year-on-year. At constant currency exchange rates turnover would have been up 5.5%, it said. EBITDA dropped 0.4% to AED6.71 billion, though net profit was up 1.9% at AED2.48 billion.

Domestic revenues in the United Arab Emirates (UAE) were up 3.3% annually at AED7.68 billion, though the Maroc Telecom group saw sales decline 12.6% to AED3.08 billion. There were also lower revenues in Egypt (down 1.9% to AED1.28 billion) and Pakistan (down 18.0% to AED632 million).

The group’s aggregate subscription base across its operations in the Middle East, Africa and Asia climbed 4.0% y-o-y to 161.6 million.

United Arab Emirates, e& (formerly Etisalat Group)

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