Emirates Integrated Telecommunications Company (DU) Q3 2025 earnings summary

Executive summary

• Achieved consistent topline growth, improved EBITDA margin, and strong profitability in Q3 2025, with guidance reaffirmed for the year.

• Revenue for the nine-month period ended 30 September 2025 reached AED 11.62 billion, up from AED 10.76 billion year-over-year.

• Net profit for the period was AED 2.18 billion, an increase from AED 1.90 billion in the prior year.

• Completed a successful secondary public offering, increasing free float to 27.7% and enhancing liquidity and market profile.

• Sustained growth in both Mobile and Fixed customer bases, with significant net additions year-over-year.

Financial highlights

• Q3 2025 revenues grew 7.9% year-over-year to AED 3,872 million, with 9M 2025 revenues up 8.0% to AED 11.6 billion.

• Normalized EBITDA increased 6.7% to AED 1,736 million in Q3, with margin expanding to 47.8%.

• Net profit for Q3 was AED 732 million, up 1.8%; normalized net profit up 25.8% year-over-year.

• Operating free cash flow increased 11.0% to AED 1,360 million in Q3.

• Capex for Q3 was AED 492 million, with capital intensity at 12.7%.

Outlook and guidance

• 2025 guidance reaffirmed: revenue growth of 6-8% year-over-year and EBITDA margin of 45-47%.

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

• Management is assessing the impact of new accounting standards and amendments to be adopted in future periods.