Emirates Telecommunications Group Company (EAND) Q4 2025 earnings summary

Executive summary

• Achieved record double-digit growth in revenue and net profit for FY 2025, driven by strategic acquisitions, digital expansion, and operational efficiency.

• Completed Telenor Pakistan acquisition, announced expansion in Slovakia, and launched UAE sovereign cloud platform with AWS.

• Subscriber base reached 244.7 million, up 31.3% year-over-year, with significant growth from Telenor Pakistan.

• Launched UAE's first PayPal-linked digital wallet and enhanced fintech and cybersecurity offerings.

• Leadership transition: Masood M. Sharif appointed Group CEO, succeeding Hatem Dowidar.

Financial highlights

• FY 2025 revenue reached AED 72.9bn, up 23.1% year-over-year; Q4 2025 revenue was AED 19.3bn, up 17.3% year-over-year.

• Net profit for FY 2025 was AED 14.4bn (AED 11.4bn adjusted), up 33.6% year-over-year; Q4 2025 net profit was AED 2.5bn, up 11% year-over-year.

• EBITDA for FY 2025 was AED 32.0bn, up 21.1% year-over-year, with a consolidated margin of 44%.

• Operating free cash flow for FY 2025 was AED 20.8bn, up 14% year-over-year.

• Dividend per share for FY 2025 increased to 90 fils, up 8.4% year-over-year.

Outlook and guidance

• FY 2025 results met or exceeded guidance on all major KPIs, with net profit ahead of expectations.

• FY 2026 guidance targets 8–10% revenue growth, 4–5% EBITDA growth, and EPS of ~1.35 AED.

• CAPEX/revenue ratio expected to rise to 16–17% in FY 2026.

• Board recommends dividend per share of 95 fils for FY 2026.