Emirates Integrated Telecommunications Company (DU) Q1 2026 earnings summary

Executive summary

• Strong revenue and profit growth in Q1 2026, with robust operational performance despite March headwinds from regional conflict and adverse weather.

• January and February delivered excellent results, while March was impacted by regional geopolitical events and weather conditions.

• Resilient revenue growth and record EBITDA margin achieved.

• Solid balance sheet and strong liquidity, supported by a renewed credit facility.

• Business continuity plans ensured uninterrupted service and resilience across all segments.

Financial highlights

• Revenues grew by 6.9% year-over-year to AED 4,114 million in Q1 2026.

• EBITDA increased by 11.7% year-over-year to AED 2,038 million, with margin rising to 49.5%.

• Net profit rose 15.5% year-over-year to AED 834 million, with net profit margin expanding by 1.5 percentage points.

• Operating free cash flow increased by 14.2% year-over-year to AED 1,652 million.

• Capex intensity at 9.4%, with capex of AED 386 million reflecting a typical Q1 backloaded pattern.

Outlook and guidance

• 2026 revenue growth guidance maintained at 5-7%, with EBITDA margin expected between 46-47%.

• Guidance maintained pending clarity on the duration and severity of the regional conflict; management remains agile and prepared to adapt.

• Focus on strengthening core business, scaling digital services, and cost efficiencies.

• Management expects to conclude license renewal discussions with the regulator by May 8, 2026.

• New standards, including IFRS 18, will be adopted as they become effective; impact assessment ongoing.