Emirates Telecommunications Group Company (EAND) Q4 2024 earnings summary

Executive summary

• Revenue increased to AED 59.2 billion in 2024, up 10% year-over-year, driven by growth across UAE and international operations.

• Net profit attributable to owners reached AED 10.75 billion, with basic EPS of AED 1.24, up from AED 1.18 in 2023.

• Major acquisitions included a controlling stake in PPF Telecom Group and 100% of GlassHouse, expanding the international footprint.

• The group maintained strong liquidity, with cash and cash equivalents at AED 7.6 billion at year-end.

Financial highlights

• Operating profit rose to AED 20.1 billion, up from AED 15.9 billion in 2023.

• EBITDA and EBIT margins improved, supported by higher revenue and operational efficiencies.

• Total assets increased to AED 183 billion, with equity at AED 53.9 billion.

• Dividends per share for 2024 totaled AED 0.83.

• Impairment losses of AED 1.3 billion were recognized, mainly on goodwill for Maroc Telecom and Playco Holdings.

Outlook and guidance

• Management remains confident in refinancing AED 35.5 billion of borrowings due in 2025, citing strong creditworthiness.

• The group is focused on further international expansion and digital transformation, with new verticals in fintech and cloud services.