E& AGM Approves Cash Dividend Of 83 Fils Per Share For Fiscal Year 2024

e& recently conducted its Annual General Meeting (AGM), where shareholders assessed the Group's 2024 performance. They expressed confidence in its transformation into a global technology leader. The AGM approved a cash dividend of 83 fils (AED0.83) per share for the fiscal year 2024, reinforcing e&'s commitment to consistent shareholder value through a progressive dividend policy.

Jassem Mohamed Bu Ataba Alzaabi, Chairman of e&, highlighted the company's achievements in 2024, noting accelerated growth and strategic progress. He stated, "2024 was another successful year marked by accelerated growth and impressive progress with our strategy to transform into a global technology company."

The company reported record consolidated revenues of AED59.2 billion, a 10.1% increase, and a net profit of AED10.8 billion, up by 4.3%. These results were driven by strategic decisions focusing on geographic expansion, revenue diversification, and scaling digital verticals.

Alzaabi emphasised that these measures have strengthened financial resilience and positioned e& for new opportunities while ensuring sustainable long-term value for stakeholders. He added that e& is committed to growth across 38 countries in regions including the Middle East, Africa, Asia, and Central and Eastern Europe.

e& has bolstered its global leadership through strategic investments and impactful initiatives. The Group was recognised as the ‘World’s Fastest-Growing Brand’ by Brand Finance and expanded its reach through significant partnerships and acquisitions.

The UAE arm of e& gained international acclaim for delivering the fastest mobile network speeds globally, showcasing its leadership in 5G innovation and infrastructure development.

Future Vision and Digital Transformation

Hatem Dowidar, Group CEO of e&, described 2024 as a year of "more" — more impact, opportunities, growth, and passion for excellence. He noted that this period marked a successful chapter in their transformation journey towards becoming a global technology leader.

Dowidar stated that they leveraged telecom and digital services across 38 countries to enhance dividends and strengthen performance. This approach has cemented trust among stakeholders through superior connectivity, advanced digital solutions, and AI-driven innovations.

Commitment to Innovation

Looking forward to 2025, Dowidar outlined plans to deepen focus on digital transformation by scaling AI and data-driven solutions while promoting inclusivity in technology access. With support from talented teams, partners, and customers, e& aims to empower communities further.

The Group's total subscriber base grew to 189.3 million in 2024, marking an 11.7% increase compared to the previous year. Consolidated EBITDA rose by 2.7% at constant exchange rates to reach AED26.5 billion.

The company's achievements reflect three years of strategic transformation efforts that have reinforced its position as a global technology group poised for continued success.

With inputs from WAM