Du's profits rise 49.7% to Dh1.9 billion in 9 months

Emirates Integrated Telecommunications Company PJSC (du), announced today its financial results for the third quarter of 2024 with a topline growth of 9.1 per cent and a robust EBITDA growth of 16.9 per cent. Q3 EBITDA margin of 48.3 per cent is the highest since inception.

Q3 net profit of Dh 719 million is the highest quarterly net profit in the last three years while net profit for the 9 months grew by a stellar 49.7 per cent. This very strong financial performance is the result of a sustained commercial momentum, consistent strategy execution and efficient cost management. Significant milestones have been achieved in the connectivity business and beyond, underpinning du’s evolution from a telecom operator to a leading Telecom and Digital Services Provider.

The company demonstrated strong commercial momentum in the third quarter of 2024, achieving a 9.1 per cent year-on-year increase in revenue. Total revenues reached Dh3.6 billion, underscoring a solid topline performance.

Profitability also saw significant improvement, with EBITDA climbing by 16.9 per cent to reach Dh1.7 billion. This growth led to a record EBITDA margin of 48.3 per cent, reflecting enhanced operational efficiency and cost control measures.

Net profit surged by an impressive 42.7 per cent to Dh0.7 billion, marking the highest quarterly net profit achieved over the past three years. Capital expenditures have been normalising, with a capital intensity of 12.2 per cent over the first nine months of 2024.