Leading UAE telco e& Group has recorded strong growth in its consolidated revenue for the first six months of the year hitting AED38.1 billion ($10.3 billion), an increase of 11.6% over last year.

The positive momentum was reflected in the Group’s consolidated net profit, which reached AED6 billion, representing growth of 2.4 percent compared with the first half of last year, excluding the impact of the Maroc Telecom settlement and proceeds from the sale of the Group’s stake in Khazna during the first half of 2025.

Earnings before interest, tax, depreciation and amortisation (EBITDA) reached AED17.7 billion, up 13.1 percent year-on-year, resulting in an EBITDA margin of 46.5 percent.

The financial performance was supported by continued growth in the Group’s total subscriber base, which increased by 30.4 percent to 251.5 million subscribers. The number of e& UAE subscribers reached around 16.5 million, up 6.4 percent compared with the first half of last year, reflecting growing customer demand for the Group’s portfolio of services and solutions, its ability to meet increasing demand for advanced telecommunications infrastructure, and its delivery of unique AI-enabled digital experiences for individuals and businesses.

Following a comprehensive strategic review of the Group’s international investment portfolio after the end of the second quarter, e& successfully completed the sale of its entire stake in Vodafone Group.

The transaction generated gross cash proceeds of AED21.9 billion and a net cash gain of around AED4.8 billion. The Group also completed the sale of 12.5 percent of its 50.03 percent stake in Careem Technologies to Uber for a total consideration of AED367 million.

On the solid performance, Chairman Jassem Mohamed Bu Ataba Alzaabi said: "Our results today confirm that the Group is making steady progress towards leading the digital future. We have successfully navigated regional and global challenges with agility and transformed them into real and sustainable opportunities for business growth."

"Our financial performance in the first half of 2026 reflects the success of our strategy, which is built on the strength of the Group’s core business portfolio, alongside our continued investments in technology infrastructure and advanced digital solutions. This has provided us with a solid foundation to sustain growth and reinforce our leadership across regional and international markets, as demonstrated by consolidated revenue of AED38.1 billion in the first half of 2026," he added.-TradeArabia News Service