du Reports Record Q3 2024 Profits with 42.7% Surge

Emirates Integrated Telecommunications Company PJSC (du) announced an impressive financial performance for Q3 2024, reporting a 9.1% year-on-year increase in revenue, bringing total revenues to AED 3.6 billion.

The company also posted a 16.9% growth in EBITDA, reaching AED 1.7 billion with a record EBITDA margin of 48.3%, marking the highest in its history. Net profit surged by 42.7% to AED 719 million, the highest quarterly net profit in three years.

This strong growth is attributed to sustained commercial momentum, strategic execution, and efficient cost management. Over the first nine months of 2024, du’s net profit rose by an impressive 49.7%, supported by normalized capital expenditures and a capital intensity of 12.2%.

The company also reported major advancements in its business strategy. In the B2B segment, du introduced two new sub-brands, du Tech and du Infra, expanding its market offerings and enhancing its reach. Furthermore, a strategic partnership with Orange aims to drive innovation and promote digital transformation across du's services.

CEO Fahad Al Hassawi commented,

“Our Q3 results reflect our ongoing commitment to strengthen our connectivity core while expanding into digital services. This brand overhaul supports our mission to become a leading integrated digital services provider. Our robust cash generation and healthy balance sheet empower us to pursue growth opportunities and deliver shareholder value.”

With this continued momentum, du remains optimistic about meeting its 2024 targets and reaffirmed its annual guidance.

News Source: Emirates News Agency