Telecom operator e& has reported revenue of AED 52.4 billion (+4.7 percent) and net profit of AED 10 billion (+7.4 percent) in 2022.
Capex of e& has touched AED 7.7 billion (–4 percent) with capital intensity ratio of 14.8 percent in 2022. E& is planning a capital intensity ratio of 15-17 percent in 2023.
Key investment priorities in 2022 were on the 4G rollout and upgrades across all OpCos, and extending 5G coverage in KSA Expansion of FTTH network by PTCL and MT Group Network modernization and IT upgrades in all OpCos.
Capital spend in the UAE focused on 5G network deployment and digitalization. e& has spent 33 percent of its Capex in the UAE.
MT Group CAPEX focused on FTTH and mobile network expansion across most markets. e& has spent 34 percent of its Capex for MT Group. Acceleration of FTTH network deployment in Morocco, 40 percent growth in network capacity. 4G upgrades in Morocco, improving indoor coverage. Rollout of 4G sites and upgrades supported consistent subscriber acquisition in Moov Africa.
CAPEX spend in Egypt, focused on spectrum acquisition and network deployment. e& has spent 17 percent of its Capex in Egypt.
Lower Capex in PTCL Group was mainly attributed to spectrum acquisition in previous year; Capex was focused on FTTH and mobile coverage in Pakistan. e& has spent 12 percent of its Capex in Pakistan. PTCL enlarged its FTTH network to reach 500k+ households achieving 200k+ subscribers. Expansion of 4G coverage allowed Ufone to grow data revenues (+43 percent).
Mobily has extended 5G coverage to 80 percent+ in 6 main cities across KSA. Mobily has continued roll out of FTTH coverage, driving 10 percent revenue growth.
e& said consolidated EBITDA increased by 3.7 per cent to AED 26.2 billion, leading to an EBITDA margin of 50 percent, highlighting the strong profitability of e&’s operations.
Reporting strong growth in subscriber base in the UAE, etisalat by e& recorded 13.8 million subscribers, an increase of 8.8 per cent compared to last year, and the Group’s aggregate subscribers reached 163 million, an increase of 2.5 per cent over 2021.
Hatem Dowidar, Group Chief Executive Officer of e&, said: “Despite global challenges, our domestic and international operations achieved impressive results, reinforcing our leadership position in competitive and evolving markets.”
“e&’s strategy allow us to explore future opportunities while fostering strong strategic partnerships with global technology players. Prudent mergers and acquisitions accelerated our growth and diversification creating new streams of revenue.”