Shareholders of e& convened on Tuesday to endorse the Board’s proposal for a cash dividend of 83 fils (Dh0.83) per share for the fiscal year 2024.
Chairman Jassem Mohamed Bu Ataba Alzaabi remarked: “The year 2024 was another remarkable period characterized by swift growth and significant advancements in our quest to evolve into a global tech enterprise. e& achieved record consolidated revenues of Dh59.2 billion, reflecting a 10.1 percent increase, along with a net profit of Dh10.8 billion, which grew by 4.3 percent. These successes stem from critical strategic moves made by the Board, focusing on geographic expansion, revenue diversification, and enhancing digital sectors. These initiatives not only bolstered our financial stability but also positioned e& to seize new opportunities and guarantee sustainable long-term value for our stakeholders.”
Hatem Dowidar, Group Chief Executive Officer of e&, commented: “The year 2024 was about ‘more’—more impact, more possibilities, more growth, and more dedication to excellence. It represented a successful phase in our transition as we continued to strengthen our role as a global technology front-runner. By capitalizing on our telecommunications and digital services presence across 38 countries, we have provided enhanced dividends and improved performance, reinforcing trust with our stakeholders. With superior connectivity, advanced digital services, and AI-driven innovations, we will keep empowering our customers and the communities we support.”
In 2024, e& reported an outstanding financial performance, with a consolidated net profit of Dh10.8 billion, a 4.3 percent increase from the previous year. This achievement marks three years of strategic transition, solidifying the Group’s status as a leading global technology company.
The consolidated revenue surged to Dh59.2 billion, up by 10.1 percent, driven by growth across all business segments. Consolidated EBITDA saw a 2.7 percent year-over-year increase at constant exchange rates, reaching Dh26.5 billion. The group’s total subscriber count rose to 189.3 million, representing an 11.7 percent increase compared to 2023.