Emirates Integrated Telecommunications Company (DU) Q2 2026 earnings summary

Executive summary

• Stable underlying performance in Q2 2026, with revenue for the six-month period reaching AED 8,197.6 million, up from AED 7,750.3 million year-over-year.

• Net profit for the period was AED 1,632.0 million, compared to AED 1,449.3 million in the prior year, with solid profitability and strong EBITDA margin.

• Accelerated capital deployment, particularly for data centres, and interim dividend per share increased by 8.3% year-over-year to AED 0.26, totaling AED 1,178.6 million.

• Two new wholly owned subsidiaries were incorporated: a Cayman Islands holding company and a UAE-based treasury company.

Financial highlights

• Total revenues rose 4.6% year-over-year to AED 4,083 million in Q2, with operating profit before depreciation and amortization for the six months at AED 4,031.9 million.

• EBITDA increased by 9.2% to AED 1,994 million, with margin expanding to 48.8%.

• Net profit grew 9.8% to AED 798 million in Q2, with net profit margin up 0.9 points to 19.5%.

• Total assets stood at AED 17,620.9 million as of 30 June 2026, down from AED 19,375.7 million at year-end 2025.

• Cash and cash equivalents at period end were AED 304.8 million, compared to AED 463.3 million at 31 December 2025.

Outlook and guidance

• 2026 guidance confirmed for EBITDA margin (46%-47%) and slightly adjusted for revenue growth (4%-6%) to reflect regional geopolitical uncertainty.

• Renewal discussions for the telecommunications license, expiring August 2026, are in final stages and expected to conclude before expiry.

• Management continues to monitor regional geopolitical developments, with no material impact identified to date.

• Priorities include strengthening core business, scaling digital services, expanding data centre footprint, and advancing strategic partnerships.