Emirates Integrated Telecommunications Company (DU) Q3 2025 earnings summary

Executive summary

• Achieved consistent topline growth and improved 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 and liquidity, and paving the way for potential index inclusion.

• The company adopted IFRS 18 early, enhancing financial statement transparency and comparability.

Financial highlights

• Revenues grew 7.9% year-over-year to AED 3,872 million in Q3 2025, with nine-month revenue at AED 11.62 billion.

• Normalized EBITDA increased 6.7% to AED 1,736 million in Q3, with nine-month EBITDA at AED 5.50 billion.

• Normalized net profit rose 1.8% to AED 732 million in Q3; nine-month net profit was AED 2.18 billion.

• Strong cash generation with operating free cash flow up 11.0% year-over-year to AED 1,360 million in Q3.

• Capex spending reached AED 511 million in Q3, with capital intensity at 14.2%.

Outlook and guidance

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

• The company expects nine-month results may not be indicative of the full year ending 31 December 2025.

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

• Management is assessing the impact of new accounting standards and amendments for future periods.