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e& revenues surge 23% in 2025 as CEO Hatem Dowidar to step down
The group’s total base expanded 31.3 per cent during the period to 244.7 million subscribers across Asia, Africa, the Middle East, and Central & Eastern Europe
- PUBLISHED: Tue 24 Feb 2026, 7:06 PM
E& on Tuesday reported the strongest financial performance in its history, closing 2025 with record revenue, soaring profits and rapid subscriber growth — marking another milestone in the group’s transformation into a global technology powerhouse.
The group’s consolidated revenue jumped 23.1 per cent year‑on‑year to Dh72.9 billion, driven by broad‑based growth across its business verticals. Net profit surged 33.6 per cent to Dh14.4 billion, while EBITDA rose to Dh32.0 billion, up 21.1 per cent compared with 2024. Earnings per share mirrored profit growth, rising 33.6 per cent to Dh1.65.
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Subscriber numbers also reached new heights. The group’s total base expanded 31.3 per cent to 244.7 million subscribers across Asia, Africa, the Middle East, and Central & Eastern Europe. In the UAE, e&’s home market, subscribers increased to 16.3 million, an 8.4 per cent rise over the previous year.
Reflecting this strong performance, the board proposed a total dividend of 90 fils per share for FY 2025 and confirmed that payouts will increase to 95 fils in 2026.
The blockbuster results came as the company announced a significant leadership change. Group CEO Hatem Dowidar, who has led e& since 2020, will step down on 31 March 2026 after six years at the helm — a period marked by the company’s evolution from a regional telecom operator into a global technology group. He will be succeeded by Masood M. Sharif Mahmood, currently CEO of e& UAE, who assumes both roles on 1 April 2026.
Dowidar said he was “proud of what we have accomplished together,” noting record growth, expanding international operations, and the creation of new digital, fintech and enterprise platforms. Chairman H.E. Jassem Mohamed Bu Ataba Alzaabi praised Dowidar’s leadership, saying it strengthened long‑term shareholder value and accelerated e&’s transformation.
Across its operations, e& delivered major strategic achievements in 2025. In the UAE, the launch of a pioneering 5.5G network, ongoing 6G trials, and the country’s 99.5 per cent fibre‑to‑home coverage underscored its leadership in connectivity. The company expanded AI initiatives, from an AI governance platform with IBM to the launch of the AI Academy and large-scale skilling programmes with AWS.
Its fintech arm, e& money, cemented its position as the UAE’s leading licensed fintech app, doubling cards issued to 1.76 million and growing transaction value nearly threefold. In entertainment, STARZPLAY completed its merger with evision and recorded 10.6 million app installs, up 82 per cent from the previous year. Careem’s Everything App nearly doubled its gross transaction value and revenues, with Careem Plus surpassing 550,000 subscribers.
Internationally, the group advanced acquisitions, 5G rollouts in three new markets, and strategic partnerships spanning Europe, the Middle East and Africa. PTCL completed its acquisition of Telenor Pakistan, while Maroc Telecom and Inwi formed joint ventures to accelerate fibre and 5G deployment.
As the group looks ahead under new leadership, e& says it remains committed to embedding AI across operations, expanding digital capabilities, and driving sustainable value for shareholders and the communities it serves.
Somshankar Bandyopadhyay is a News Editor with more than three decades of experience. Currently, he manages the news production of the business section, ensuring that the top economic and business news of the day reaches its readers.
