- Consolidated revenue for the first half increased to AED 38.1 billion, achieving 11.6% growth YoY
- The Group's consolidated net profit reached AED 6.0 billion, growing by 2.4% YoY (excluding the gain from the sale of Khazna and the Maroc Telecom settlement in H1 2025)
- EBITDA reached AED 17.7 billion, an increase of 13.1% compared to the same period last year, with a profit margin of 46.5%
- Interim DPS of 47.5 fils, an increase of 10.5% compared to the same period last year
- Strategic portfolio reset to sharpen the focus on strengthening core businesses with the sale of stake in Vodafone at a premium to the market price, and the partial sale of 12.5% stake in Careem Technologies
ABU DHABI, UAE, July 30, 2026 -- e& today announced its financial results for the first half of 2026 (H1 2026), delivering strong financial and business performance that reflects the Group's ability to sustain growth across its home market and international operations. This performance was driven by a clear strategy focused on core businesses, comprehensive digital transformation, and accelerating AI-powered innovation.
During the first six months of this year, e& recorded strong growth in its consolidated revenue, reaching AED 38.1 billion, representing an increase of 11.6 per cent year-on-year (YoY). Consolidated net profit reached AED 6.0 billion, marking YoY growth of 2.4 per cent, excluding the gain on the sale of Khazna and the impact of the Maroc Telecom (MT) settlement in 2025.
EBITDA in H1 2026 reached AED 17.7 billion, a YoY increase of 13.1 per cent, resulting in a strong EBITDA margin of 46.5 per cent. These financial results are supported by the continued growth of the Group's overall subscriber base, which grew by 30.4% per cent to reach 251.5 million subscribers, while the number of e& UAE subscribers reached 16.5 million, an increase of 6.4 per cent YoY.
This performance reflects growing customer demand for the Group's portfolio of innovative services and solutions, as well as its ability to meet increasing demand for advanced connectivity infrastructure and deliver differentiated, AI-enhanced digital experiences for consumers and businesses.
Following a comprehensive strategic review of the Group's international investment portfolio after the end of the second quarter, e& successfully completed the sale of its entire stake in Vodafone Group Plc. The transaction generated gross cash proceeds of AED 21.9 billion (USD 5.95 billion) and net cash return of AED 4.8 billion (equivalent to USD 1.3 billion). Similarly, e& completed the sale of 12.5 per cent of its 50.03 per cent stake in Careem Technologies to Uber for total consideration of AED 367 million (USD 100 million).
Financial Highlights for H1 2026
H1 2026 | H1 2025 | % Change | Q2 2026 | Q2 2025 | % Change | |
Consolidated | 38.1 billion | 34.2 billion | 11.6 % | 19.2 billion | 17.7 billion | 8.7 % |
Consolidated | 6.0 billion | 5.9 billion | 2.4 % | 3.1 billion | 3.1 billion | 1.1 % |
EBITDA (1) | 17.7 billion | 15.7 billion | 13.1 % | 9.0 billion | 8.2 billion | 9.8 % |
Earnings Per | AED 0.69 | AED 0.67 | 2.4 % | AED 0.36 | AED 0.35 | 1.1 % |
Total Group | 251.5 million | 192.9 | 30.4 % | 251.5 | 192.9 | 30.4 % |
UAE | 16.5 million | 15.5 million | 6.4 % | 16.5 million | 15.5 million | 6.4 % |
(1) Financial results of 2026 and comparative 2025 excludes Careem Technologies due to the deconsolidation after the partial sale of 12.5% stake. (2) Q2 2025 net profit & EPS adjusted for the impact of MT settlement, while H1 2025 net profit and EPS are adjusted for the impact of MT settlement and (3) Adjusted for Maroc Telecom reported number | ||||||
Commenting on the financial results, H.E. Jassem Mohamed Bu Ataba Alzaabi, Chairman of e& Group, said: "Our results today confirm that the Group is making steady progress towards leading the digital future. We have successfully navigated regional and global challenges with agility and turned these challenges into real opportunities for business growth.
"Our financial performance in the first half of 2026 reflects the success of our strategy, which is built on the strength of e&'s core business portfolio, alongside our continued investments in technology infrastructure and advanced digital solutions. This has provided us with a solid foundation to sustain growth and reinforce our leadership across regional and international markets, as clearly demonstrated by consolidated revenue of AED 38.1 billion in the first half of 2026.
"The ongoing and rigorous assessment of our international investments is one of the key pillars through which we maintain e&'s financial strength and ensure the highest value and returns for shareholders. The completion of the sale of our stake in Vodafone in July 2026 generated AED 21.9 billion in cash proceeds and resulted in a net cash gain of AED 4.8 billion.
"Guided by the vision and support of the UAE's wise leadership, e& will continue to play a role in shaping the digital landscape and advancing social and economic progress. We will continue to strengthen our position and explore new technological frontiers, building on solid foundations to drive long-term growth and strengthen our leadership as a trusted partner in enabling comprehensive digital transformation. We will also continue to deliver innovations that strengthen the UAE's position on the global technology map."
Masood M. Sharif Mahmood, Group Chief Executive Officer of e& Group, said: "Despite the recent regional and global challenges, e& demonstrated the strength of its operating model and its ability to adapt throughout the first half of 2026. We also achieved a consolidated net profit of AED 6.0 billion and EBITDA of AED 17.7 billion, with a strong margin of 46.5% while maintaining healthy cash flows. This financial performance was further supported by continued growth in the Group's total subscriber base, which increased by 30.4% to reach 251.5 million subscribers.
"These results are a testament to our proactive risk management, the diversification of our portfolio across telecommunications and digital businesses, and the integration of innovative AI applications, this reinforces shareholder confidence in our ability to lead the digital future.
"Our strategy for long term growth is built on our ability to strengthen and improve our operating model, ensuring it remains responsive to regional and global shifts. This enables us to deliver strong returns that reflect disciplined capital management and flexibility in capital and asset rotation. Our strong financial position allows us to capture promising opportunities and continue developing future-ready digital infrastructure.
The Group Chief Executive Officer concluded: "e&'s greatest strength lies in its ability to ensure business continuity while delivering reliable digital services enhanced by advanced AI capabilities. e& maintained service continuity, strengthened network readiness, supported remote work and education ecosystems, and provided reliable digital infrastructure for individuals, businesses, and government entities. The Group has demonstrated its ability to fulfil its national and economic role, guided by the forward-looking vision of the UAE's wise leadership."
CONTACT: Nancy Sudheer, +971 50 705 5290, email: nsudheer@eand.com
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