e& Reports 11.6% Revenue Growth in H1 2026, Reaches AED 38.1 Billion

e&  has reported strong financial and operational performance for the first half of 2026, driven by growth across its domestic and international businesses, continued digital transformation, and increased investment in AI-powered innovation.

During the six-month period, the Group’s consolidated revenue rose 11.6% year-on-year (YoY) to AED 38.1 billion, while consolidated net profit reached AED 6.0 billion, representing a 2.4% increase excluding the gain from the sale of Khazna and the impact of the Maroc Telecom settlement recorded in 2025.

The Group also posted EBITDA of AED 17.7 billion, up 13.1% YoY, delivering a strong EBITDA margin of 46.5%. Meanwhile, its global subscriber base expanded by 30.4% to 251.5 million, while subscribers in the UAE increased by 6.4% to 16.5 million.

According to the company, the results reflect growing demand for its portfolio of digital services, advanced connectivity infrastructure, and AI-enabled customer experiences across both consumer and enterprise segments.

During the period, e& also completed a strategic review of its international investment portfolio. Following the end of the second quarter, the Group finalized the sale of its entire stake in Vodafone Group, generating AED 21.9 billion (USD 5.95 billion) in gross cash proceeds and a net cash return of AED 4.8 billion (USD 1.3 billion). The company also completed the sale of 12.5% of its 50.03% stake in Careem Technologies to Uber for AED 367 million (USD 100 million).

“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.”

– H.E. Jassem Mohamed Bu Ataba Alzaabi, Chairman, e& Group

“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. 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.”

– Masood M. Sharif Mahmood, Group Chief Executive Officer, e& Group