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E& H1 revenue rises 11.6% to Dh38.1 billion as subscriber base tops 251 million
UAE telecom and technology group posts double-digit revenue and Ebitda growth in the first half of 2026, supported by rising subscribers and portfolio restructuring
- PUBLISHED: Thu 30 Jul 2026, 4:03 PM
Abu Dhabi-based technology group e& reported an 11.6 per cent year-on-year increase in consolidated revenue for the first half of 2026, supported by growth across its telecom and digital businesses and a sharp rise in its global subscriber base.
Revenue reached Dh38.1 billion during the first six months of the year, up from Dh34.2 billion a year earlier, while earnings before earnings before interest, taxes, depreciation and amortisation Ebitda rose 13.1 per cent to Dh17.7 billion. Consolidated net profit reached Dh6 billion, representing growth of 2.4 per cent excluding one-off gains recorded in the first half of 2025. The group’s Ebitda margin stood at 46.5 per cent.
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e&’s total subscriber base expanded by 30.4 per cent year-on-year to 251.5 million customers, while its UAE subscriber base grew 6.4 per cent to 16.5 million.
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The results come amid a broader strategic review of the group’s international investment portfolio, which led to the sale of its entire stake in Vodafone Group and a partial divestment of its holding in Careem Technologies.
Following the review, e& completed the sale of its Vodafone stake, generating gross cash proceeds of Dh21.9 billion and a net cash return of Dh4.8 billion. The company also sold 12.5 per cent of its 50.03 per cent stake in Careem Technologies to Uber for Dh367 million.
Commenting on the results, Jassem Mohamed Bu Ataba Alzaabi, Chairman of e& Group, noted that the company’s performance reflected progress in its long-term digital strategy. He said: “Our results today confirm that the Group is making steady progress towards leading the digital future. We have successfully navigated regional and global challenges with agility and turned these challenges into real opportunities for business growth.”
He added that the first-half results demonstrated the benefits of investing in technology infrastructure and digital services. “Our financial performance in the first half of 2026 reflects the success of our strategy, which is built on the strength of e&’s core business portfolio, alongside our continued investments in technology infrastructure and advanced digital solutions,” he said.
On the Vodafone transaction, Alzaabi said: “The completion of the sale of our stake in Vodafone in July 2026 generated Dh21.9 billion in cash proceeds and resulted in a net cash gain of Dh4.8 billion.”
Masood M. Sharif Mahmood, Group Chief Executive Officer of e&, said the company maintained resilience despite market challenges. “Despite the recent regional and global challenges, e& demonstrated the strength of its operating model and its ability to adapt throughout the first half of 2026,” he said. “We also achieved a consolidated net profit of Dh6.0 billion and Ebitda of Dh17.7 billion, with a strong margin of 46.5 per cent while maintaining healthy cash flows.”
Mahmood said the group’s growth was supported by portfolio diversification and the adoption of artificial intelligence across its operations. “These results are a testament to our proactive risk management, the diversification of our portfolio across telecommunications and digital businesses, and the integration of innovative AI applications,” he said.
Associate Editor Somshankar Bandyopadhyay brings more than three decades of experience to the KT newsroom. Currently, he manages the news production of the business section, ensuring that the top economic and business news of the day reaches its readers.