Emirates Integrated Telecommunications Company (DU) Q1 2025 earnings summary

Executive summary

• Achieved 7.4% year-over-year revenue growth to AED 3,848 million, with robust performance across all major business lines and continued profitability momentum.

• Net profit increased 19.8% year-over-year to AED 722.5 million, reflecting strong operational execution and cost discipline.

• Revenue diversification advanced through a landmark ICT partnership with Microsoft and expansion in fintech and data centre activities.

• Mobile and fixed subscriber bases grew 5.5% and 13.8% year-over-year, respectively, supporting segment growth.

• The Board approved a final cash dividend of AED 0.34 per share for 2024, paid in March 2025.

Financial highlights

• Revenues grew 7.4% year-over-year to AED 3,848 million, with mobile revenue at AED 1,720.9 million and fixed revenue at AED 1,059.6 million.

• EBITDA increased 15.0% year-over-year to AED 1,823.7 million, with margin improving to 47.4%.

• Net profit rose 19.8% to AED 722.5 million, reflecting higher EBITDA.

• Operating free cash flow up 17.9% to AED 1,447 million; cash and cash equivalents at AED 2,686 million as of March 31, 2025.

• Capex intensity remained stable year-over-year at 9.8%, with capex at AED 377 million.

Outlook and guidance

• 2025 guidance reaffirmed: revenue growth targeted at 5-7% year-over-year and EBITDA margin expected above 44.2%.

• Management notes Q1 results may not be indicative of full-year 2025 performance.

• Focus remains on profitable growth, digitalization, IT transformation, and value creation for shareholders.

• Continued focus on diversifying revenue streams and expanding into high-potential growth areas.