e& has released its consolidated financial results for Q1 2024, reporting a consolidated revenue of AED 14.2 billion, growing 9% year-over-year, while consolidated net profit increased to AED 2.3 billion, a year-over-year growth of 7%. The group’s consolidated EBITDA reached AED 6.4 billion, growing 3% year-over-year, resulting in an EBITDA margin of 45%.
Vodafone Qatar has announced its financial results for the first quarter of the year, showing positive improvements across all key indicators.
Omantel has proudly shared their achievements for 2023, which reflect the company’s commitment to innovation, community support, and leadership in the ICT sector in the Sultanate of Oman.
By Elvi Correos, Senior Journalist, Telecom Review Group
Emirates Integrated Telecommunications Company (EITC), commercially rebranded as du, has published its financial results for Q1 2024. Revenues increased by 4.1% to AED 3.58 billion, reflecting the company’s continuous commercial momentum and market competitiveness. Notably, the digital telco’s net profit reached AED 603 million, a substantial 62.7% increase year-on-year, primarily reflecting a strong EBITDA growth.
e& UAE has released a new whitepaper, outlining a blueprint for navigating the future of telecommunications with artificial intelligence (AI). Titled “Unleashing the Power of AI: How e& UAE is Shaping the Future of AI in Telecommunications and Beyond” the whitepaper offers an in-depth exploration of e& UAE’s journey towards becoming an AI-driven organization, significantly contributing to the nation’s digital future. The whitepaper explores e& UAE’s strategic integration of more than 400 AI use cases and 160 machine learning (ML) models across its operations.
Nokia has announced that e& UAE, the telecom arm of e&, will leverage Nokia’s cloud interconnect solution to provide connectivity services for hyperscalers in the UAE. By using Nokia’s FP5-based technology, e& UAE can now offer significantly-higher, quality connectivity to hyperscalers in terms of performance, scale, and security to support mission-critical applications delivered across evolved business-class services.
e& has announced that its shareholders have endorsed the Board of Directors' proposal for a new progressive dividend policy. This policy will see a yearly incremental increase of AED 0.03 for the fiscal years 2024, 2025, and 2026, culminating in a dividend per share (DPS) of AED 0.89 by fiscal year 2026, as announced during the group's Annual General Meeting (AGM).
Bahrain Network (BNET), the national company responsible for providing fiber-based broadband in the Kingdom of Bahrain, has proudly announced the appointment of Dr. Mohamed Tayeb Mahmood as its Chief Technical Officer (CTO).
The Board of Directors of stc Bahrain has announced the appointment of Eng. Khalid bin Baijan Al Osaimi as the new CEO of stc Bahrain, succeeding Eng. Nezar Banabeela.
