UAE telecoms group e& increased second-quarter revenue by 9 per cent as it expanded its customer base across international markets, helping the company weather geopolitical disruption and offset a fall in profit.
Revenue in the second quarter rose to Dh19.2 billion ($5.2 billion) year-on-year, the conglomerate said on Thursday in a filing to the Abu Dhabi Securities Exchange, where its shares trade.
That growth was underpinned by an overall customer base that rose by nearly a third to 251.5 million, it said. Users under its e& International arm, which covers markets including Saudi Arabia, Egypt and Africa, added 32.5 per cent to almost 235,000. In the UAE, subscribers grew 6.4 per cent to more than 16,500.
For the first half, revenue climbed 11.6 per cent to Dh38.1 billion, lifted by a “steady” performance of its operations and the consolidation of its recently acquired assets in Serbia and Pakistan, it said.
Profit attributable to owners of the company in the three months ending in June, however, was down 8.8 per cent to Dh3.12 billion, and was down nearly 32 per cent to around Dh6 billion in the first half, as the company absorbed the impact of its settlement for Maroc Telecom last year.
Overall, Abu Dhabi-based e&, formerly the Etisalat Group, “successfully navigated regional and global challenges with agility and turned these challenges into real opportunities for business growth”, chairman Jassem Al Zaabi said.
“Our financial performance in the first half of 2026 reflects the success of our strategy, which is built on the strength of e&’s core business portfolio, alongside our continued investments in technology infrastructure and advanced digital solutions.”
The effects of the war between the US and Iran are rippling through economies and industries in the Middle East, causing a shift in consumer patterns.
Companies have adapted to the situation, recalibrating their strategies and investments to maintain agile operations without affecting their services.
For e&, the diversification of its portfolio and integration of artificial intelligence applications have helped the company navigate through these circumstances, group chief executive Masood Mahmood said.
The first-half results reflect its “proactive risk management … [that] reinforces shareholder confidence in our ability to lead the digital future”, he said.
“Our strategy for long-term growth is built on our ability to strengthen and improve our operating model, ensuring it remains responsive to regional and global shifts. This enables us to deliver strong returns that reflect disciplined capital management and flexibility in capital and asset rotation,” Mr Mahmood said.
Shares of e& settled nearly 2 per cent higher at Dh20.26 at the ADX on Thursday.
