Latest news with #Dhs8.8
Gulf Today
31-07-2025
- Business
- Gulf Today
e& reports 60.7% rise in net profit, reaching Dhs8.8 billion in H1
e& on Thursday announced its consolidated financial results for the first half of 2025, reporting continued growth momentum and strategic progress across its business pillars. e&'s performance reinforces the group's position as a global technology leader, driving digital transformation at scale across regional and international markets. The group's consolidated revenue increased to Dhs34.9 billion, representing a year-over-year growth of 23.3 per cent compared to H1 2024. Consolidated net profit in H1 rose to Dhs8.8 billion, up 60.7 per cent from the previous year. EBITDA in H1 reached Dhs5.4 billion, a YoY increase of 18.8% with EBITDA margin of 44.1 per cent. The group's subscriber base grew to 198 million globally, marking a 13.1 per cent increase year-over-year. In the UAE, e& UAE subscribers reached 15.5 million, driven by rising demand for advanced connectivity solutions, AI-powered services, and tailored digital experiences that address the evolving needs of both individuals and businesses. Jassem Mohamed Bu Ataba Alzaabi, Chairman, e&, said, 'In the first half of 2025, e& continued to strengthen its leadership position, driven by its strategic investments and robust business model. Our continued strong performance reflects our commitment to long-term value creation, with major milestones reflecting the Board's strategic foresight. 'In H1, e& continued its growth trajectory, delivering consolidated revenue of Dhs34.9 billion-a year-on-year increase of 23.3 per cent-and achieving consolidated net profits of Dhs8.8 billion, up 60.7 per cent compared to the same period last year. Alongside our outstanding financial performance, we maintained our focus on bringing the latest technologies to best serve our customers. We launched the UAE Sovereign Cloud Launchpad alongside AWS and the UAE Cybersecurity Council. This landmark initiative advances national priorities around digital sovereignty, secure AI, and cloud innovation, and is set to unlock enduring value for the nation's digital economy. 'Thanks to the UAE's visionary leadership that inspires us, e& will continue enabling the knowledge economy with responsibility and ambition. We remain committed to shaping resilient, inclusive, and innovation-led societies across the markets we serve.' Hatem Dowidar, Group Chief Executive Officer, e&, said: 'e& delivered strong performance in the first half of 2025, reflecting our agility, innovation, and ability to scale. We preserved the momentum witnessed across our different verticals. Our diverse revenue streams enabled the group to drive financial success and deliver robust operational growth. Revenues in Q2 and H1 increased by 28.1 per cent year-over-year to Dhs18.0 billion and by 23.3 per cent to Dhs34.9 billion, respectively. Our EBITDA grew by 18.8 per cent to Dhs15.4 billion in the first half. These results demonstrate the strength of our transformation strategy and our continued focus on operational excellence and value creation. 'We achieved a series of strategic milestones, including the divestment of Khazna and partial divestment of Airalo during the first half of the year, which enhanced our financial flexibility. In parallel, we introduced the UAE Sovereign Cloud Launchpad, reinforcing our focus on secure, sovereign AI solutions. We also became one of the first companies to earn the 'Tier S' designation under the Dubai AI Seal, a top-level recognition of our leadership in responsible AI development and deployment. Additionally, we advanced our international footprint through the acquisition of Serbia Broadband, while our collaboration with Qualcomm is accelerating 5G evolution and edge AI integration across key industries. 'Our progress was further recognised internationally, with e& named the world's Fastest Growing Brand by Brand Finance. This recognition reflects our bold ambition, customer-centric innovation, and growing global presence. 'As we look ahead, we remain focused on enabling future technologies and delivering lasting impact across the communities we serve.' e& launched the Sovereign Launchpad in partnership with Amazon Web Services (AWS) and the UAE Government's Cyber Security Council, enabling full data sovereignty and security, supporting the UAE's ambition to lead in digital infrastructure. Valued at over $1 billion, the initiative is projected to contribute more than $181 billion to the UAE's digital economy by 2033. With Qualcomm Technologies e& will work to advance the UAE's digital transformation through edge AI and next-gen 5G solutions focusing on smart gateways powered by AI, extended reality devices, and advanced computing systems, including projects in smart mobility and industrial IoT - all supported by Qualcomm's new engineering centre in Abu Dhabi. e& completed the sale of its 40 per cent stake in Khazna to G42 and Khazna for $2.2 billion (Dhs8 billion), as part of a strategic focus on core operations and investment optimisation.
Gulf Today
26-03-2025
- Business
- Gulf Today
Emaar Properties announces 100% dividend payout of Dhs8.8 billion
Emaar Properties on Wednesday approved a 100 per cent dividend payout, amounting to Dhs8.8 billion, during its Annual General Meeting (AGM). This follows the introduction of Emaar's updated dividend policy in December 2024. The meeting also included the approval of the auditor's report for 2024, along with the board's report on the company's activities and financial position. Emaar's financial results for 2024 reflected strong operational performance and continued growth across its key business segments. The company recorded property sales of approximately Dhs70 billion (US$19 billion), representing a 72 per cent increase compared to 2023. Emaar's revenue backlog from property sales exceeded Dhs110 billion (US$30 billion), supporting future revenue generation. Total revenue for 2024 reached Dhs35.5 billion ($9.6 billion), marking a 33 per cent year-over-year increase, while net profit before tax grew by 25 per cent to Dhs18.9 billion ($5.1 billion). EBITDA for the year stood at Dhs19.3 billion ($5.2 billion), with a margin of 54 per cent. Mohamed Alabbar, Founder of Emaar Properties, said, 'Emaar's 2024 results reflect our dedication to operational excellence, innovation, and customer experience. As we move forward, we remain committed to sustainable and technology-driven growth, further enhancing Dubai's position as a leading global destination for investment and development while aligning with the UAE's Net Zero 2050 vision.' Ras Al Khaimah launches inaugural International Real Estate Investment Summit, Spotlighting Opportunities in the Emirate's Surging Real Estate Sector The global platform will showcase investment opportunities in RAK, the UAE's fastest-growing real estate market, complete with a dedicated session on the economic impact of integrated resorts such as Wynn Al Marjan Island, the changing face of hospitality and international real estate trends at the two-day conference, Ras Al Khaimah summit: Ras Al Khaimah will take centre stage at a global real estate event this May when it hosts the inaugural International Real Estate Investment Summit (IREIS). Set to take place on May 20 and 21, 2025, at the Al Hamra International Exhibition and Conference Centre, IREIS marks a significant milestone in the Emirate's ambitious journey to becoming a premier global investment destination. Organised by Cityscape by Informa Markets, in collaboration with Marjan – the master-developer behind Al Marjan Island – and RAK Hospitality Holding, the leading hospitality group in Ras Al Khaimah, IREIS will bring together elite investors, government officials, and industry leaders. Cityscape, established over 24 years ago, has been instrumental in launching iconic real estate projects such as the Burj Khalifa and Battersea Power Station. As the premier real estate platform in the GCC and beyond, Cityscape connects key stakeholders across the real estate ecosystem, adding significant credibility and influence to this inaugural summit. With a focus on unlocking investment potential, the event will spotlight RAK's rapidly growing real estate market and international markets, providing an exclusive platform for deal-making, networking, and market-shaping discussions. The Summit features a carefully curated agenda, keynote addresses, investment talks, panel discussions, and immersive networking sessions. Industry heavyweights and policymakers will share insights on market trends, capital flows, and the impact of major projects shaping the region's future, including the flagship US$3.9 billion Wynn Al Marjan Island resort, set for completion in 2027. The programme explores what the introduction of an integrated resort means for RAK and the wider region, with economic insights from Macau, Singapore, and Las Vegas. With 500 delegates and investors from the GCC and global markets, and 40 industry speakers, IREIS will provide unique access to networking opportunities and investment showcases. Attendees can expect roundtable discussions on emerging market opportunities, how RAK is attracting global, deep dives into asset class trends, and insights into tech-driven real estate transformation with a special mini masterclass on the emergence of cryptocurrency in global real estate transactions. The International Real Estate Investment Summit comes as RAK is emerging as one of the UAE's most promising real estate hotspots, driven by government-backed initiatives, visionary developments, and a thriving tourism sector. Branded residences linked to globally renowned hospitality names – including Nikki Beach, Nobu, Ritz-Carlton, and Waldorf Astoria – are further positioning RAK as a high-yield destination for investors seeking long-term returns. 'Ras Al Khaimah is undergoing an unprecedented evolution, with world-class projects reshaping the tourism and hospitality sectors,' said Alison Grinnell, CEO of RAK Hospitality Holding. 'The inaugural International Real Estate Investment Summit will be a key moment to showcase the vast potential of RAK's real estate market to international investors.' RAK's geographic location, less than an hour from Dubai, combined with its attainable property prices, strong return on investment, and investor-friendly regulations, is attracting a wave of local and international buyers. WAM
