"End" Corporation of record profits in 2024 and registered growth in unified revenues by 10.1% to reach 59.2 billion dirhams
Abu Dhabi, February 25/ WAM/ EDA announced its financial statements for 2024, which witnessed its record record financial performance; Where net united profits reached 10.8 billion dirhams, a growth of 4.3% on an annual basis.
And she said in a statement, which received a copy of it that these results reflect the “Ed and the ongoing” strategic transitions that began three years ago, which enhances its position as a leading global technology group.
The group recorded unified revenues of 59.2 billion dirhams, achieving 10.1% growth, 12.6% according to fixed exchange rates, supported by the growth achieved across the various business pillars. The profits also increased before calculating interest, tax, consumption and extinguishing by 2.7% on an annual basis, according to fixed exchange rates, to reach 26.5 billion dirhams.
As for the “E and the Emirates”, the company continued its strong growth, as the base of its subscribers exceeded the barrier of 15 million subscribers, an increase of 5.4% compared to the previous year. The total number of subscribers of the group also reached 189.3 million, an increase of 11.7% compared to 2023.
“End” has maintained strong growth levels through various pillars of its business, while expanding its business portfolio and doubled its efforts in the fields of communications and digital transformation. The group also continues to fulfill its commitment to providing sustainable returns to its shareholders, by supporting innovation and creating value in the long term.
The statement said that this was evident through the adoption of the Board of Directors, a policy of distributing raising profits for a period of three years, which includes an increase of 3 fils (0.03 dirhams) annually during the financial years 2024, 2025 and 2026, and this policy aims to raise profits per share until it reaches 89 fils. (0.89 dirhams) by the end of the fiscal year 2026. This reflects the group’s confidence in Its constant financial strength and the prospects for growth and development.
The Board of Directors also proposed the distribution of cash dividends during the fiscal year 2024 at a value of 41.5 fils (0.415 dirhams) per share for the second half of 2024 (from July to December), bringing the total annual cash distributions to 83 fils (0.83 dirhams) per share. These distributions come to confirm the commitment of the “Ed &” group to provide a fixed value to its shareholders.
His Excellency Jassim Mohamed Bou hero Al -Zaabi, Chairman of the Ed -Group, said: “The year 2024 was the growth and leadership, driven by a strong vision based on an effective strategy through which we were keen to enhance innovation and continuous commitment to digital empowerment. These efforts and results have been crowned. By obtaining the rating of the “fastest growing brand in the world”, And continuing the expansion and growth of our commercial brand geographically to reach Europe, which added more and important achievements in the march of growth and the progress of “ED”. The total subscriber’s base grew to 189.3 million subscribers.
His Excellency continued: “We are inspired by our vision from the wise leadership of the United Arab Emirates, and in a way that enables us to continue to pay the wheel of economic progress, empowering business, and upgrading the lives of individuals and societies across the three continents that we serve, by strengthening our investments in smart platforms, artificial intelligence systems, And the leading and innovative solutions in the telecommunications sector.
His Excellency concluded by saying: “I would like on this occasion to emphasize the importance of our human cadres in contributing to achieving all these successes, so our leadership in resettlement and our commitment to developing digital skills was more than just priority and institutional responsibility, but rather a strategic advantage. We are confident to enable the next generation with skills Artificial intelligence and digital experiences will contribute to building the future of the digital Emirates, The talents of the leaders of the future shift. And in a way that opens more future growth horizons Shining. ”
For his part, Hatem Dowidar, CEO of the Ed -Group, said: “In 2024, we accelerated our efforts to turn into a global technological group, expand the application and adopt the best solutions of artificial intelligence and upgrade them on the one hand, expand to Europe and enhance our operations in the markets that We work within it on the other hand, and these efforts have contributed positively to achieving strong financial results, which were represented in Unified revenues of 59.2 billion dirhams, with an annual growth rate of 10.1%, while the profits were recorded before calculating interest, tax, consumption and extinguishing, by 2.7% with fixed exchange rates for currencies to reach 26.5 billion dirhams. We built, and the bold investments that we have made, And the added value that we continue to be presented. “
Dowidar continued: «One of the most important strategic achievements achieved by the EMD was the expansion of its business to the center and eastern Europe, by acquiring a controlling share of the assets of the group (PPF Telikum), to add more than 10 million new subscribers from Bulgaria, Hungary, Serbia and Slovakia to The group’s business portfolio, which greatly enhances our global presence. In addition, our acquisition of the company “Glasshouse” came to greatly support our mines in the fields of cloud installation, data and other innovative applications in Turkey, South Africa and Qatar..and these achievements come at the heart of our strategic vision, through which we seek to build a strong and developed digital system Business sectors enable Expansion, governments of innovation, and societies of prosperity.
Dowidar concluded: “During the year 2024, we were keen to expand our digital silence, and to achieve leadership in the field of innovations based on artificial intelligence, in addition to providing effective and influential digital solutions and services, and in the way that contributed to the obtaining of“ End ”to classify the fastest growing brand in the world; Where the value of the brand portfolio and the group’s investment value exceeded the $ 20 billion barrier, which confirms our tireless pursuit of innovation and progress.
The most prominent operational achievements.
In 2024, “EMD” continued to achieve its strategic ambitions, by exploring new prospects for growth, providing the next generation solutions, which reshape the business sectors, rise to customer experience, and pushing towards a more bonding and intelligent future.
The group continued the acquisition of a controlling stake in the “PPF Telecom” group, which expanded its operations to include 38 countries in Central and Eastern Europe, adding more than 10 million customers to its system, providing new opportunities for growth and innovation, and creating value in high -capacity markets.
“End” also won the rating of the “fastest growing brand in the world”, according to the Brand Finance Global 500 report; Where its commercial brand made an exceptional achievement, driven by its three -year strategic shift, which strengthened the unified identity of the group under one strong sign, and the group also obtained the rating of the pioneering brand BSI index (BSI) with 84.6 points, which reflects an unprecedented growth in the value of Its brand is eight times compared to Last year, to reach 15.3 billion US dollars, as a stand -alone sign, its highest value ever. The significant increase in the brand portfolio and the investment value of the “EMD” group is driven by the growth achieved by investments and the portfolio of more than 20 billion US dollars, including but not limited to its share in the Pakistani Telecom Company Ltd. (Pakistan), and its share in Mobily ( The Kingdom of Saudi Arabia), and the acquisition of a controlling share (50% + one economic share) in services companies And the infrastructure of the “PPF Telecom” group.
“End” has also succeeded in strengthening its position among the 10 most powerful brands in the telecommunications sector, which reflects its strategic vision and its continued impact on the market, its diverse expansion, and its approach to creating long -term added value.
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