Emirates Integrated Telecommunications Company (DU) Q1 2026 earnings summary

Executive summary

• Strong underlying performance in January and February, with March impacted by regional conflict and weather conditions.

• Revenue for Q1 2026 reached AED 4,114 million, up 6.9% year-over-year from AED 3,848 million.

• Net profit for the quarter was AED 834 million, a 15.5% increase compared to Q1 2025.

• Resilient revenue growth and record EBITDA margin achieved.

• Final cash dividend of AED 0.40 per share for 2025 was approved and declared.

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.

• Cash and cash equivalents at quarter-end were AED 1,523 million, up from AED 463 million at year-end 2025.

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 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.

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