e& Group delivered a robust first-half performance in 2026, with consolidated revenue climbing 11.6 percent year-on-year to AED38.1 billion, as the UAE telecom giant expanded its subscriber base and executed a series of high-value asset sales.
Consolidated net profit reached AED6 billion, up 2.4 percent compared with the same period last year when adjusted for the Maroc Telecom settlement and 2025 Khazna stake sale proceeds. EBITDA rose 13.1 percent to AED17.7 billion, translating into a healthy 46.5 percent margin.
The growth was underpinned by a sharp rise in total subscribers, which grew 30.4 percent to 251.5 million globally. In the UAE specifically, e&'s customer base grew 6.4 percent to around 16.5 million, a trend the company linked to rising demand for its digital services and AI-driven offerings.
The first half also saw major portfolio moves. Following a strategic review, e& completed the full sale of its stake in Vodafone Group, generating AED21.9 billion in gross cash proceeds and a net cash gain of roughly AED4.8 billion. Separately, the Group sold a 12.5 percent slice of its Careem Technologies holding to Uber for AED367 million.
Chairman Jassem Mohamed Bu Ataba Alzaabi described the results as evidence of steady progress toward digital leadership, crediting the Group's core business strength and continued investment in technology infrastructure. He said rigorous evaluation of international assets remains central to preserving financial strength and shareholder value.
Group CEO Masood M. Sharif Mahmood pointed to proactive risk management, portfolio diversification, and AI integration as key drivers behind the results. He added that disciplined capital management and asset rotation flexibility continue to position e& to pursue new opportunities and build future-ready digital infrastructure across its markets.
News Source: Emirates News Agency
