Annual Report 2022

accelerattransform

At a Glance

Financial
Highlights

Revenue¹

(AED billion)

EBITDA²

(AED billion)

EBITDA Margin

(%)

Net Profit

(AED billion)

Net Profit Margin

(%)

Dividend Per Share³

(AED)

  1. Revenue increased by 4.7% year-on-year in constant currency in FY 2022
  2. EBITDA increased by 3.7% year-on-year in constant currency in FY 2022
  3. For the year 2020, in addition to the Common DPS, a one-time special dividend of 40 fils per share was paid
52.4
AED Billion

Revenue

26.2
AED Billion

EBITDA

50
%

EBITDA Margin

10.0
AED Billion

Net profit

1.15
AED

Earning Per Share

80
Fils

Dividend Per Share

8.0
AED Billion

Capex

18.2
AED Billion

Free Cash Flow

35
%

Free Cash Flow Margin

Awards
and Recognitions

Recognition fuels our ambition to go even further

Brand Finance

Most Valuable Portfolio of Telecom Brands in MEA (Middle East and Africa)

Brand Finance

Strongest Telecom Brand in MEA

Forbes

World’s Best Employers List

HRSE Future Workplace Awards

Employer of the Year

CIPD Middle East People Awards

Best Recruitment & Talent Management Strategy

Telecoms Worlds Awards

Best Regional Wholesale Carrier

Telecom Review ME

Best Middle East Operator

Kantar BrandZ

Most Valuable Emirati Brand

international

OpenSignal

Maroc Telecom: Best Internet Experience in Morocco

OpenSignal

Ufone (an operating company of PTCL): Leading 4G Services Provider in Pakistan

enterprise

IDC MarketScape

e& enterprise iot&ai: Leader in IoT Consulting and Systems Integration Services

Frost & Sullivan

Help AG: UAE Company of the Year Award in the Security Operations Centre Services Industry

MEA Finance

Help AG: Best Cybersecurity Provider

MEA Finance

UAE Trade Connect: Best Analytics Solution Provider

life

MENA Fintech Association

e& money: Best MENA Wallet

Geographic
Footprint

×

etisalat by e&, United Arab Emirates

  • License Type Mobile, Fixed and Internet
  • e& Ownership 100%
  • Population (million) 11
  • Penetration Mobile: 191% Fixed: 22%
  • Number of Operators 2
×

Etihad Etisalat (Mobily), Saudi Arabia

  • License Type Mobile, Fixed & Interent
  • e& Ownership 28%
  • Population (million) 37
  • Penetration 118%
  • Number of Operators 3
×

etisalat by e& egypt

  • License Type Mobile, Fixed & Interent
  • e& Ownership 66%
  • Population (million) 106
  • Penetration 99%
  • Number of Operators 4
×

Etisalat, Afghanistan

  • License Type Mobile
  • e& Ownership 100%
  • Population (million) 33
  • Penetration 68%
  • Number of Operators Mobile 4
×

PTCL/Ufone, Pakistan

  • License Type Mobile, Fixed and Internet
  • e& Ownership 23%
  • Population (million) 232
  • Penetration Mobile: 84% Fixed: 1%
  • Number of Operators Mobile 4, Fixed 11
×

Maroc Telecom, Morocco

  • License Type Mobile, Fixed and Internet
  • e& Ownership 53%
  • Population (million) 36
  • Penetration Mobile: 143% Fixed: 7%
  • Number of Operators 3
×

Moov Africa, Benin

  • License Type Mobile
  • e& Ownership 53%
  • Population (million) 13
  • Penetration 99%
  • Number of Operators 3
×

Moov Africa, Burkina Faso

  • License Type Mobile, Fixed and Internet
  • e& Ownership 32%
  • Population (million) 22
  • Penetration 116%
  • Number of Operators 3
×

Moov Africa, Central African Republic

  • License Type Mobile
  • e& Ownership 53%
  • Population (million) 5
  • Penetration 44%
  • Number of Operators 3
×

Moov Africa Gabon Telecom, Gabon

  • License Type Mobile, Fixed and Internet
  • e& Ownership 27%
  • Population (million) 2
  • Penetration 126%
  • Number of Operators 2
×

Moov Africa, Ivory Coast

  • License Type Mobile
  • e& Ownership 45%
  • Population (million) 28
  • Penetration 150%
  • Number of Operators 3
×

Moov Africa Malitel, Mali

  • License Type Mobile, Fixed and Internet
  • e& Ownership 27%
  • Population (million) 21
  • Penetration 107%
  • Number of Operators 3
×

Moov Mauritel, Mauritania

  • License Type Mobile, Fixed and Internet
  • e& Ownership 27%
  • Population (million) 4
  • Penetration 104%
  • Number of Operators 3
×

Moov Africa, Niger

  • License Type Mobile
  • e& Ownership 53%
  • Population (million) 26
  • Penetration 60%
  • Number of Operators 4
×

Moov Africa, Togo

  • License Type Mobile
  • e& Ownership 50%
  • Population (million) 9
  • Penetration 71%
  • Number of Operators 2
×

Moov Africa, Chad

  • License Type Mobile
  • e& Ownership 53%
  • Population (million) 17
  • Penetration 58%
  • Number of Operators 2

Investment
Case

e& is an attractive and unique investment proposition, as one of the world’s leading telecommunications groups in emerging markets with a vision to become a global technology group for the future.

The leading integrated telecommunications group in the region

  • Aggregate subscriber base of 163 million

  • Largest telecommunication operator in MENA region by market cap and among top ten in the world*

  • Comprehensive portfolio of communication products and services to consumers, businesses and government segments in multiple regions

  • Diversified business portfolio across 16 high growth and high cash flow maturing markets

  • Network leadership in home market with bestin- class mobile and fibre networks

*As of 3 January 2023

Robust financial strength and performance

  • Record level net profit of AED 10.0 billion in 2022

  • Healthy EBITDA margin of 50%, amongst the highest in the telecommunication industry worldwide

  • Among highest industry credit ratings, reflecting strong cash flow, unique cash position and disciplined approach to capital spending

  • Consistent history of dividend payments

Accelerating strategic growth

  • Scaling up new consumer services by leveraging strength of telecommunication business

  • Strengthening leadership position in enterprise digital services including cloud, cybersecurity, AI and IoT

  • Resilience and growth despite global macroeconomic headwinds

  • Expanding and optimising telecommunication portfolio

  • Investing in new technologies and business models

Together towards a sustainable future

  • Strategic direction fully aligned with the UN’s SDGs and the UAE’s Vision

  • Strong commitment to Diversity, Equity and Inclusion, including increasing female management

  • Commitment to a net zero operation by 2030

  • MSCI Global Index ESG rating of ‘A’, among top third of global corporations