2030
Strategy
Building from our strong foundations as a telco giant, operating across 32 countries and serving over 170 million subscribers, e& has strongly positioned itself with its solid financial performance, network leadership and brand value.
In 2023, e& continued its journey of transformation to a global technology group through its strategy execution by the Telco and Techco verticals and by acquiring high growth assets in the telecommunications and technology space.
Our e& 2030 strategy is designed to transition e& from topline stability to sustained growth. Also, our strategy is aspired to change the business composition from being UAE telco centric to a more balanced geographic profile with higher revenue contribution outside the UAE and from the non-telco verticals. Most of the revenue growth will come from investments and the successful integration of non- UAE telcos, with a focus on mature, stable markets and OpCos with strong capabilities and size, with upside potential from scaled synergies. e& will also explore opportunities to increase its presence in existing markets. For example, through increasing ownership, acquiring additional telcos and leveraging the digital verticals in these markets. At the same time, e& will continue to explore new delayering opportunities including infrastructure and will continue exploring opportunities in future technologies. e& will continue utilising the power of Data and AI to digitise, automate and transform all its operations to improve agility, productivity, and customer experience.
ESG is a top priority and e& is committed to an environmentally sustainable future as well as fostering an engaged, diverse and inclusive workplace. Therefore, as part of our e& 2030 strategy, we declared our commitment to achieving net zero in the UAE for scope 1 and 2 emissions by 2030 through a mixed approach of abatement initiatives and carbon offsetting. In 2023, e& became the ‘Principal Technology Partner’ at the 28th Conference of the Parties to the UNFCCC (COP28) held in the United Arab Emirates.
Our Vision
To be a leading global technology and investment group
Our Purpose
To be the centre of the customers digital life. We connect them, and we build and enable experiences that make their work more productive and life more enjoyable.
Our Strategy
As part of our 2030 strategy, we have great ambitions to move from a stable top line to sustained growth over the next eight years, abiding by our four strategic pillars:
- Double down on core: Where we will continue to invest in telco to generate growth and scale. We will double down on core business in the UAE operation and will grow our international footprint.
- Diversify portfolio: As we look towards having a more balanced geographic profile with a higher contribution from the non-telco verticals, we will invest to increase the percentage of revenue from non-telco.
- Digitalise and transform operations: Given the ever-evolving and competitive business landscape, we will continue to digitalise and transform our operations by improving productivity, customer experience and efficiency. We are focused on bringing to the ecosystem new opportunities where we can leverage our data and capabilities.
- Drive Sustainability: ESG is our priority, and we remain committed to have a best-in-class ESG performance, develop the awareness and value of the e& brand and foster an engaged, diverse and inclusive workplace.
Strategy by Vertical
Strategic
Pillar
e& UAE
e& international
e& life
e& enterprise
Mandate
Provide integrated telecommunication services and digital/non-telco solutions for consumers, businesses, and government entities in the UAE.
Maximise value creation of our international portfolio and strategically expand our geographic footprint, our ambition is to become the centre of digital life for customers across the world.
Contribute to the Group’s growth and leadership in the tech space by becoming the home of several leading consumer digital businesses in MENAP, across multiple verticals.
Enable organisations to maximise their digital potential by designing, delivering, and operating impactful, intelligent, and secure end-to-end digital solutions through innovative digital value propositions.
Strategic Priorities
- Grow share of wallet in core and beyond
- Excel in world-class customer experience delivery
- Transform into an AI and data-driven organisation
- Lead in organic telecom growth
- Expand through M&A and digital MVNOs
- Accelerate digital ecosystems
- Drive scale synergies across the footprint
- e& money to be a leading regional Fintech player
- evision to be a leading regional entertainment provider
- Careem to become MENAP’s leading everything app, and realise synergy with e&
- Lead in the UAE and accelerate growth in KSA
- Reinforce capabilities through selected M&A and strategic partnership
- Fuelling innovation through emerging technologies
KPIs
- Core revenue growth
- Digital revenue contribution
- Lead in customer experience
- FCF generation
- Organic revenue growth
- Percentage contribution to Group financials
- Digital revenue as a share of total revenues
- Value of revenue and cost synergies extracted
- Revenue growth
- Improving profitability margins
- Expanding number of customers
- Revenue
- Profitability
- Revenue outside UAE
2023 Key Achievements
- Revenue grew by 6.1% YoY and World-class EBITDA margin of 52%
- Mobile subs grew by 3.7% YoY with the postpaid segment growing by 8.5%
- Ranked number one globally for mobile broadband download speeds, fortifying UAE’s rank as a global leader in terms of FTTH penetration
- Launched first autonomous store utilizing AI, IoT and computer vision to offer a seamless, self- service shopping experience
- Organic revenue growth of 10% YoY in constant currency
- Announced expansion into Central & Eastern Europe through majority stake investment in PPF Telecom
- Established digital telco JV and launched first digital brand in Pakistan
- Launched Partner Network Programme
- Strengthened AI and advanced analytics, delivering 36% uplift in AI revenue and 50% churn reduction
- An NPS of #1 or #2 in 4 out of 5 of our key markets
- Closed Careem Everything App transaction in November 2023
- e&money became UAE’s #1 Fintech App & the country’s first nonbank card issuer
- STARZPLAY achieved position #2 SVOD in MENA
- evision launched (“StarzON”) product integrated into STARZPLAY
- Wio became profitable in less than 12 months post launch
- EngageX was recognised by IDC MarketScape as “Major Player” in WorldWide CPaaS 2023 Vendor Assessment
- Help AG has been recognized as a leader in the IDC MarketScape(1)
- Launch of the Region’s Largest Cyber Defense Center (SOC)
- Launch of Sustainability-as-a Service offering in partnership with Microsoft
- Launch of AI As-a-Service, offering AI & ML proposition for automated data analysis
- Acquisition of majority stake in Beehive
- Completion of JV with Bespin Global
2024 Goals
- Strengthen our market leadership position
- Deliver profitable revenue growth
- Strengthen network leadership position
- Enhance all key aspects of our customer experience offering
- Continue AI transformation for innovative products, network operations, and customer experiences
- Accelerate organic revenue growth through NPS leadership and best-in-class CVM
- Optimise portfolio with international expansion in stable markets
- Expand and boost channels for digital telco
- Leverage scale, realise synergies and extend Group best practices to newly acquired OpCos
- Enrich e& money application with new modernized digital products
- Enrich the video content and expand into multiple entertainment verticals beyond video
- Accelerate Careem Everything App growth within key Food, Grocery, Payment verticals
- Accelerate e&life products and capabilities beyond the UAE
- Secure further key mandates and references in the UAE and Saudi Arabia
- Expand capabilities through inorganic and strategic partnerships
- Develop autonomous commercial and consulting capabilities in digital transformation
- Focus on talent to build capabilities in areas such as AI and digital transformation
Principal Risks
- Uncertain global macroeconomic and geo- political situation
- Intensified price-based competition for core telecommunication services
- Enhanced market liberalization (OTTs, hyperscalers, satellites)
- Macro-economic risk of further currency depreciation and high inflation in key markets
- Geo-political uncertainty impacting organic and inorganic growth
- Regulatory risk impacting growth and profitability
- Unfavourable macro-economic conditions impacting consumer spending
- Regulatory risks leading to delay in targeted launch of new products and acquisitions
- Shortage of digital talents in the market such as AI, Big Data, IoT, Blockchain and Cloud computing
- Slower international expansion and partnerships due to external geopolitical and economic conditions
1Gulf Cooperation Council Region Managed Security Services (MSS) Vendor Assessment, 2023"