The telecommunications operator Du, listed in Dubai, reported significant growth in both revenue and profit for the first quarter of 2025, fueled by an expanding subscriber base and the economic development of the UAE.
During the quarter ending in March 2025, revenue increased by over 7 percent compared to the previous year, reaching AED4 billion (approximately $1 billion).
The mobile subscriber base grew by 6 percent year-on-year, now totaling 9.1 million customers, with an addition of 475,000 new subscribers. Meanwhile, the fixed-line customer base experienced a substantial 14 percent increase, reaching 701,000 subscribers, adding 19,000 new users.
Net profit climbed 20 percent from the prior year to AED722 million (around $196 million), contributing to a net profit margin of 19 percent.
On Monday, Du’s shares were trading at AED8.69, reflecting a 47 percent increase over the past year. The company is partially owned by the UAE sovereign wealth fund, Emirates Investment Authority, which holds a 50 percent stake.
Capital expenditures for the first quarter amounted to AED377 million ($102 million), compared to AED359 million ($97 million) during the same period last year. This expenditure was mainly allocated to enhancing 5G infrastructure, improving indoor coverage, and expanding fibre optic deployment.
CEO Fahad Al Hassawi stated that the company’s financial position supports its expansion into high-growth potential areas.
Additionally, last month, Du partnered with the US technology giant Microsoft to establish a AED2 billion hyperscale data center, aligning with the goals set forth in the 2024 Dubai Universal Blueprint for Artificial Intelligence.