e Reports Record Revenue and Net Profit for FY 2024 Boosting Growth Across Multiple Sectors

e Achieves Record Financial Performance in FY 2024

In 2024, e, renowned for its technological innovations, has achieved record-breaking financial results, showcasing a consolidated revenue of AED 59.2 billion, representing a growth of 10.1% compared to the previous fiscal year. The company also reported a noteworthy net profit of AED 10.8 billion, marking a 4.3% increase year-over-year. These remarkable achievements reflect e's strategic vision and commitment towards becoming a leader in digital transformation across various sectors.

Strong Demand Across Business Verticals

The growth in revenue is attributed to strong performance across all business areas, supported by e's continual expansion and innovation initiatives. The consolidated EBITDA demonstrated a robust growth of 2.7%, reaching AED 26.5 billion, underlining the effectiveness of their operational strategies and investments in connectivity and digital services.

The number of subscribers has escalated significantly, with e reporting a total subscriber base of 189.3 million, an increase of 11.7% over the past year. In the UAE alone, subscriber numbers grew to over 15 million, reflecting the heightened demand for e's services in the region.

Strategic Initiatives and Future Growth

e's success in FY 2024 can be largely attributed to a three-year strategic transformation plan focused on enhancing innovation and digital engagement. The company has outlined a progressive dividend policy, ensuring increased shareholder value, with a proposed cash dividend of 41.5 fils per share for the second half of the year. This approach indicates e's dedication to returning value to its shareholders while simultaneously investing in its growth.

In 2024, e took significant steps to solidify its position as a global player in the technology sector, expanding its footprint into new markets in Eastern and Central Europe through the acquisition of PPF Telecom's assets. This acquisition added over 10 million subscribers in countries like Bulgaria, Hungary, Serbia, and Slovakia, amplifying e's global presence and offering scalable digital solutions.

Emphasis on Technology and Innovation

As recognized by various industry accolades, including being named the 'World's Fastest Growing Brand', e's achievements are underpinned by its commitment to leveraging artificial intelligence and innovative technologies. The group’s Chair, H.E. Jassem Mohamed Bu Ataba Alzaabi, emphasized that 2024 was a pivotal year driven by bold vision and relentless focus on digital empowerment. e is not only enhancing its technological capabilities but is also dedicated to fostering the next generation of leaders equipped with digital and AI expertise to drive future growth.

The expanding digital landscape offers immense potential for e as it continues to innovate and meet the evolving needs of a diverse customer base. By focusing on building a robust digital ecosystem, e aims to facilitate growth for businesses, empower communities, and champion digital inclusion on multiple continents.

Conclusion

As 2024 draws to a close, e is poised for continued success under its ambitious strategy, promising to drive transformative change through technology. The company's focus on innovation, customer engagement, and sustainable growth paves the way for an exciting future, solidifying its status as a critical player in the digital economy. With aspirations to lead in the realm of artificial intelligence and digital transformation, e is set to leverage its achievements as a catalyst for progress, ensuring technology remains a force for good in society.