- Consolidated revenues reached AED 53.5 billion for the first nine months of 2025, an increase of 25.3 per cent YoY
- Consolidated net profit for the first nine months of 2025 reached at AED 11.8 billion, up 39.7 per cent compared to the same period last year
- Group subscriber base reached 202.2 million
By : Bakinam Khaled
e& today announced its Q3 2025 consolidated financial results, reporting consolidated revenue of AED 18.6 billion, growing 29.2 per cent year-over-year (YoY), while consolidated revenues for the first nine months of 2025 recorded AED 53.5 billion, up 25.3 per cent YoY, reflecting the Group’s resilient business model and its ability to build on record-breaking first-half results.
The group maintained its strong growth trajectory across its business verticals, with consolidated net profit in Q3 reaching AED 3.0 billion, while consolidated net profit for the first nine months of 2025 recorded AED 11.8 billion, a 39.7 per cent YoY increase.
In Q3, EBITDA rose by 29.2 per cent YoY, reaching AED 8.4 billion with a margin of 45.0 per cent. For the first nine months of 2025, EBITDA reached AED 23.8 billion, a growth of 22.3 per cent YoY, with a margin of 44.4 per cent.
e&’s total subscriber base reached 202.2 million in Q3 2025, representing a 14.0 per cent YoY growth. In the UAE, the number of subscribers reached 15.7 million, up 6.9 per cent YoY, driven by strong demand for advanced digital services and intelligent connectivity solutions.
During the third quarter, e& delivered strong performance across all verticals, reinforcing its position as a global technology group. The period saw strong operational execution, landmark partnerships, and several first-in-market achievements that further strengthened e&’s foundation for long-term value creation. Following the close of the quarter, e& extended this momentum into GITEX Global 2025, unveiling new milestones that demonstrate the depth and direction of e&’s AI, cloud, and connectivity strategy.
Hatem Dowidar, Group Chief Executive Officer of e&, said: “Our strong performance in the third quarter builds on the momentum of the first half, with consolidated revenue growth of 29.2 per cent YoY to AED 18.6 billion during the quarter. This growth in revenues was carried through to our EBITDA, rising by 29.2 per cent YoY, reaching AED 8.4 billion with a margin of 45 per cent, reflecting the pace and progress of our transformation journey into a global technology group with a strong impact, powering economies, empowering people, and advancing digital progress across the communities we serve.”
He added: “Across our verticals, we are delivering strong growth while investing in next-generation digital infrastructure, AI capabilities, and partnerships. This is the outcome of a deliberate strategy to build long-term advantages through talent, capabilities, and infrastructure that creates lasting value for our customers and shareholders. This quarter’s results also reinforced e&’s role as a national and regional growth engine, advancing the UAE’s digital leadership and expanding our global reach. From launching the region’s first 5.5G network to empowering new Emirati talent, we strengthened both our competitiveness and our contribution to the UAE’s knowledge-based economy. We also deepened regional connectivity and intelligent infrastructure by extending advanced sovereign cloud and AI capabilities and forging new cross-regional and international alliances and partnerships.”
Dowidar concluded: “Approaching its 50-year milestone, e& is building the next decade now—strengthening the UAE’s digital backbone and backing high-impact innovation with trusted, inclusive, locally anchored technologies—to deliver sustainable value well beyond our Golden Jubilee.”
Key Operational Highlights
e&
In Q3 2025, e& deepened its regional connectivity agenda, forging a strategic cross-border partnership with 4iG Group, a leading telecom and infrastructure provider in Hungary and the Western Balkans, to explore joint projects in subsea and terrestrial networks, large-scale data centres, and regional interconnection corridors linking the Middle East, North Africa, and Europe.
e& also reaffirmed its leadership in brand value as the Most Valuable Emirati Brand for 2025, valued at US$8.9 billion by Kantar BrandZ 2025.
In another partnership with AWS, e& unveiled a nationwide initiative ‘AI Nation-Afaaq’ programme to train 30,000 people in machine learning, AI and cloud skills, delivered through e& Academy to address the region’s digital talent gap and supporting the UAE’s vision for an knowledge based economy.
The Group also extended its sustainability partnership with Ericsson to scale energy-efficiency and circular-economy initiatives across networks, and co-launched a Cybersecurity Startup Accelerator with AWS, CrowdStrike, and the UAE Cybersecurity Council, designed to accelerate more than 500 “Made in UAE” cybersecurity startups.
In parallel, e& continued to embed sustainability and talent development into its growth strategy The first-ever GCC Sustainability Hackathon was launched in collaboration with regional operators to fast-track greener networks, accelerate energy-efficient innovation, and advance circular practices and e-waste reduction.
During the quarter, the group also expanded its commitment to Emirati talent through the Excelerate& programme, concluding its first cycle jointly with Ericsson, while the AI Graduate Programme 2025, opening 100 new roles for UAE nationals in data and AI disciplines.
e& UAE
In the UAE, the group’s flagship telecom arm, e& UAE, achieved several major technology milestones during the quarter. It launched the region’s first 5.5G network, establishing a new global benchmark in network speed, reliability, intelligence, and sustainability.
The quarter saw the commercial launch of Reduced Capability (RedCap) technology over e& UAE’s 5.5G network, the UAE’s first live RedCap use case with a smartwatch, expanding the scope of 5G into efficient IoT and wearable connectivity. It also became the first telecom in the GCC to deploy a Dual-Band 64T64R MetaAAU, boosting performance and energy efficiency.
e& UAE achieved three CAMARA API certifications, as part of the GSMA Open Gateway initiative.
Reaffirming its leadership in open network innovation, e& UAE launched Monitoring-as-a-Service (MaaS), offering enterprises real-time visibility and resilience across critical infrastructure.
Strategic partnerships continued to expand e& UAE’s national impact as the company strengthened its ecosystem to accelerate national digital priorities. It partnered with the Ministry of Industry and Advanced Technology (MoIAT) to support over 7,000 ICV-certified SMEs, under the UAE’s industrial strategy. It collaborated with Dubai Healthcare City Authority to enhance digital health and telemedicine infrastructure and also provided free Wi-Fi on all of Dubai’s intercity buses, in collaboration with Dubai’s Roads and Transport Authority (RTA).
Meanwhile, e& UAE’s Smiles platform expanded its rewards network through an integration agreement with Etihad Guest, enabling customers to easily exchange loyalty points between the two programmes.
Post-quarter, e& UAE extended its innovation momentum at GITEX Global 2025. It conducted the Middle East’s first 6G Terahertz pilot with NYU Abu Dhabi, achieving record-breaking throughput speeds, and spearheaded the creation of the UAE 6G Innovation Hub and the country’s first National 5G/6G Federated Testbeds in partnership with Khalifa University and Zayed University, positioning the UAE as a co-developer of next-generation global 6G standards.
Furthering its enterprise leadership, e& UAE signed a multi-year agreement with Ericsson to modernise its 5G Core network, established a new AI Centre of Excellence with Intel, and launched MissionOn, a nationwide secure push-to-talk and video service for frontline teams, and announced additional collaborations with Huawei and Nokia to advance the development of AI-native networks and edge AI capabilities.
e& UAE also signed an agreement with Sharjah International Airport Authority to provide free SIM cards for arriving visitors, supporting Sharjah’s efforts to enhance the travel experience and advance digital services across the emirate.
e& life
In Q3 2025, e& life continued to drive robust momentum, setting benchmarks across fintech, entertainment, and digital lifestyle sectors, fueled by innovation and AI-driven transformation.
In fintech, e& money maintained its strong growth trajectory, reaffirming its position as the UAE’s #1 licensed fintech app. Gross Transaction Value (GTV) grew 3.2x year-on-year, with over 1.46 million cards issued. Remittance GTV rose 3.1x year-on-year, reflecting expanding cross-border adoption. Key milestones included the launch of unique salary solutions for domestic workers integrated with Ministry of Human Resources & Emiratisation (MOHRE) and the launch of UAE’s first PayPal-linked digital wallet, marking another step in advancing financial inclusion.
In entertainment, STARZ ON, evision’s AVOD/FAST platform, sustained strong growth with 750K+ monthly active users, growing +65 per cent year-on-year. The platform also launched new interactive ad formats with enfuse, e& life’s collaborative hub for deterministic data, and introduced dynamic header ads and full-screen video reels with skippable functionality to enhance advertiser engagement. Meanwhile, STARZPLAY strengthened its “Home of Sports” position by renewing Serie A exclusive media rights for another three years and tripling ad-monetisation for the Cricket Asia Cup broadcast.
Digital lifestyle also expanded with Careem Technologies delivering strong performance across key verticals, with total GTV growing by 87 per cent, and GTV per user rising by 43 per cent over last year. Careem+ members notably contributed over 55 per cent of total GTV, demonstrating significant customer engagement and traction.
e& enterprise
In the enterprise segment, e& enterprise continued to expand geographically and technologically, maintaining strong momentum across the Middle East, Africa, and Europe and accelerating the adoption of AI, cloud, and cybersecurity solutions.
During Q3, e& enterprise inked a landmark agreement with the Government of Serbia’s Office for IT and eGovernment to triple the country’s data centre capacity to 40MW, strengthening Serbia’s role as a regional hub for sovereign cloud and digital services. It also launched the Sovereign Inference AI Platform with Dell and Intel, enabling secure, high-performance AI deployment in-country, in compliance with data residency requirements.
Complementing these achievements, e& enterprise partnered with Salesforce to redefine customer engagement across the public and private sectors
e& enterprise also advanced several key digital-transformation projects across cloud, healthcare, finance, and immersive technologies. In cloud services, the company announced plans to launch the next generation of OneCloud, a UAE-sovereign hyperscale platform powered by Oracle Alloy, bringing more than 200 Oracle Cloud Infrastructure services to regulated entities that require in-country data residency.
In healthcare, Smart Salem, Dubai’s leading medical-fitness and wellness centre, completed its full migration to a cloud-based Picture Archiving and Communication System (PACS) through e& enterprise, setting a new benchmark for efficiency and patient experience.
In financial services, the EIF Innovation Hub partnered with haifin (an e& enterprise company) to pilot digital bank guarantees in the UAE, while iscore in Egypt partnered with e& enterprise to deploy an AI-powered credit-risk platform, modernising the country’s financial-data ecosystem.
e& enterprise extended this momentum into GITEX Global 2025 as it expanded its sovereign AI leadership through the launch of the Sovereign Agentic AI Platform with Intel, Dell, and AWS, delivering a secure, scalable, and compliant foundation that enables governments and enterprises to safely deploy AI agents in hybrid and on-prem environments.
During GITEX, e& enterprise, AWS, and Intel also unveiled SLM-in-a-Box, a ready-to-use Small Language Model platform that accelerates responsible AI adoption across industries.
In tourism and events, Miral and e& enterprise launched the Yas Island Metaverse, a pioneering virtual-destination platform that redefines how global organisers experience and plan business events in Abu Dhabi.
Help AG, the cybersecurity arm of e& enterprise, was recognised as a Major Player in Governance, Risk, and Compliance (GRC) services in the 2025 IDC MarketScape report for the Middle East, Turkey, and Africa. In the same report, e& enterprise was named a Leader in IoT System Integration Services, recognising its role in delivering comprehensive solutions that drive enterprise digital transformation. The company was also recognised as a Leader in the 2025 IDC MarketScape for Professional AI Services in the GCC, underscoring its position as a trusted partner enabling organisations to adopt advanced AI solutions and enhance operational efficiency and innovation across the region.
e& international
e& international sustained its upward trajectory across its markets, driven by strategic expansion and portfolio optimisation.
In Pakistan, the Competition Commission approved PTCL’s acquisition of Telenor Pakistan, subject to final regulatory clearances, marking a transformative step toward creating the country’s second-largest operator with over 42 million subscribers.
In Q3, PTCL Group also deepened its enterprise capabilities through an expanded partnership with Teradata to enhance its AI-enabled data warehouse and a new collaboration with Aik, Pakistan’s first Islamic digital-banking platform, leveraging PTCL Smart Cloud. PTCL Flash Fiber retained its position as Pakistan’s leading FTTH network with over 768,000 subscribers, continuing its expansion across key cities. Meanwhile, Onic, Pakistan’s first digital telco, celebrated its second anniversary with record user growth.
In Morocco, Maroc Telecom (MT) secured a 5G licence and 120MHz of additional spectrum, to enable nationwide deployment, paving the way for commercial rollout.
Across e& PPF Telecom Group portfolio, integration continued between Yettel Serbia and SBB, achieving a unified TV and content offering, while O2 Slovakia secured 13 blocks of new spectrum, ensuring network leadership through 2048.
Yettel Hungary maintained its position as the country’s fastest mobile network, and introduced an eco-commerce collaboration with Rejoy for device buy-backs.
In Bulgaria, Yettel launched the region’s first prepaid eSIM activation and a business device-buyback service with SWIPE. It also continued its digitization journey, with customers now able to register and activate a prepaid eSIM directly through the Yettel app. Yettel Bulgaria was also recognised as the Best Employer in the Telecom Sector 2025.
In Egypt, e& Egypt successfully rebranded its digital wallet from e& cash to e& money-Egypt, serving over 10 million users and introducing new savings and insurance services. It also signed a strategic smart-city partnership with Mountain View Developments to create infrastructure that serves present and future needs, ensure smart cities are human-centric by pairing intelligence with empathy, and drive cultural transformation in line with Egypt Vision 2030.
In Saudi Arabia, Mobily received dual honours from the Middle East Investor Relations Association and maintained its AA MSCI ESG rating, while partnering with Ericsson to optimise network connectivity during Hajj 2025.
In Afghanistan, Etisalat Afghanistan provided humanitarian and connectivity support for returning families, distributing over 17 tons of food aid, upgrading 4G towers, and deploying service booths at key border crossings.
