Emirates Integrated Telecommunications Company PJSC, known as du, reported resilient second quarter results for 2026, with net profit climbing 9.8 percent year-on-year to AED 798 million despite a challenging regional operating environment.
The company posted revenues of AED 4.1 billion for the quarter, up 4.6 percent from the same period last year, reflecting softer trends that emerged in March. Service revenue grew at a faster pace of 6.7 percent, while EBITDA rose 9.2 percent to AED 1.99 billion, pushing the EBITDA margin up two percentage points to 48.8 percent.
Fixed line revenue grew 11.6 percent to AED 1.2 billion, driven by enterprise connectivity demand and the company's Home Wireless offering. Mobile revenue rose 3.7 percent to AED 1.8 billion. The mobile subscriber base expanded 1.6 percent to 9.3 million, though growth moderated due to lower activation levels since the onset of the regional conflict, along with a decline in tourism activity affecting prepaid users. Fixed subscribers grew 5.5 percent to reach 744,000.
Capital expenditure climbed 19.8 percent to AED 653 million as du accelerated investment in data centre projects ahead of launching services under an agreement with a global hyperscaler.
The company also advanced its beyond the core strategy with the launch of du Ventures, a venture capital fund established in partnership with Shorooq, targeting early and growth stage companies developing emerging technologies.
Chairman Malek Al Malek said the results demonstrated the resilience of du's business model despite heightened regional tensions during the period, supported by disciplined strategy execution and operational excellence.
CEO Fahad Al Hassawi said the performance reflected disciplined execution of strategy and the ability to quickly adapt to fluid market conditions.
Based on these results, the board approved an interim cash dividend of AED 0.26 per share, an 8.3 percent increase year-on-year, reflecting the company's commitment to shareholder returns.
News Source: Ogilvy
