10-02-2025
UAE: Du reports 49.1% increase in FY2024 net profit to record Dh2.5 billion
Du announced on Monday its financial results for the fiscal year 2024, reporting a net profit year-on-year increase of 49.1 per cent to Dh2.5 billion.
"The exceptional full-year results reflect the strong financial performance throughout the year and the success of our strategic initiatives," said the mobile and internet provider in the UAE.
The company's revenues grew by 7.3% to Dh14.636 billion and its EBITDA margin reached 44.2%, expanding by 1.7 percentage points with EBITDA increasing by 11.6%.
Our strong financial performance and robust balance sheet enabled the Board to recommend distributing 34 fils per share as the final dividend for 2024, taking our 2024 dividend to 54 fils per share, the highest dividend in the history of du and the maximum amount of dividends per share allowed by our dividend policy.
'In 2024, we made significant progress in our transformation journey from a traditional telecom operator to a comprehensive digital services provider, supported by UAE's resilient economy and ambitious digital agenda," said du Chairman Malek Sultan Al Malek.
"Our mobile and fixed network, supporting close to 10 million subscribers, is forming the backbone of the UAE's digital economy, highlighting the success of our customer-centric and digital-first approach," he added.
"On the basis of these excellent results, the Board has proposed a final dividend of 34 fils per share, taking the final dividend to 54 fils per share, the highest dividend in the history of du."
