Emirates Telecom. Group Company (etisalat Group) Pjsc · ADX:EAND
Emirates Telecom. Group Company (etisalat Group) Pjsc — e& (Emirates Telecommunications Group Company PJSC) — Q1 2025 Earnings Presentation
24 slides from Emirates Telecom. Group Company (etisalat Group) Pjsc's earnings presentation, Apr 30, 2025
Slide 1: Q1 2025 Results Presentation
Q1 2025 Results Presentation 30 April 2025 Restricted
Slide 2: Disclaimer
Disclaimer Emirates Telecommunications Group Company PJSC (“e&” or the “Company”) and its subsidiaries have prepared this presentation (“Presentation”) in good faith, however, no warranty or representation, express or implied is made as to the adequacy, correctness, completeness or accuracy of any n
Slide 3: Group Key Highlights
Group Key Highlights Hatem Dowidar, e& group CEO Restricted
Slide 4: Key developments Q1 2025
Key developments Q1 2025 Customer Base Revenues EBITDA Net Profit 194.8 AED 16.9 bn AED 7.4 bn AED 5.4 bn +13% y/y +19% y/y Margin 43.6% +130% y/y +22% in constant currency Telco Margin ~ 48% Optimizing MT Group strategic Strengthening e& Brand asset portfolio Agreements (1) PPF portofolio Recogniti
Slide 5: Group Financial Highlights
Group Financial Highlights Karim Bennis, e& group CFO Restricted
Slide 6: Financial Highlights Q1 2025
Financial Highlights Q1 2025 e& starts the year at a high note with robust financial and operational performance Revenue EBITDA Net Profit AED 16.9 bn AED 7.4 bn AED 5.4 bn 22% y/y Growth in 44% Consolidated Margin EPS 62 fils Constant Currency 48% Telco Margin +130% y/y (1) CAPEX OpFCF Net debt to
Slide 7: Group Revenue
Group Revenue Robust performance driven by all verticals coupled with full consolidation of e& PPF telecom Key Highlights Revenue (AED mn) & YoY Growth (%) Sources of Revenue Variance (AED mn) • Strong organic revenue growth supported by consolidation of e& +22% +18.7% +22.2% PPF Telecom 16,864 511
Slide 8: Group EBITDA
Group EBITDA Healthy margins reflecting the change in revenue mix and in alignment with guidance Key Highlights EBITDA (AED mn) & YoY Growth (%) Sources of EBITDA Variance (AED mn) • Strong EBITDA growth of 18% in +18% constant currency benefited from the +15.4% +17.8% consolidation of e& PPF Teleco
Slide 9: Group Capex
Group Capex (1) Disciplined approach to capex spend with 5G license acquisition in Egypt Key Highlights CAPEX (AED mn) & Intensity Ratio (%) (1) Sources of CAPEX Variance (AED mn) +2.4% +46.4% 2,949 • Capex excl. licenses and 728 2,419 spectrum increased by 2.4% y/y, mainly due to consolidation of e
Slide 10: Group Financial Position
Group Financial Position Strengthen liquidity position & improved leverage ratio Key Highlights Cash & Cash Equivalents (AED mn) Total Debt (AED mn) • Cash balance reached AED 44,509 69,195 68,641 44.5 bn including the proceeds from Khazna 33,628 31,640 48,068 divestment with a total of USD 3% 2.2 b
Slide 11: Group Debt Profile
Group Debt Profile Diversified sources of debt Key Highlights Borrowings by Operations (AED mn) Borrowings by Currency (%) 48,257 • Gross debt of AED 68.6 Others billion 8% PKR MAD 5% • The group repaid around 6% Euro AED 3% 7.0 bn out of its short- -2% 3% 24% term maturity dues during the first wee
Slide 12: Performance by vertical
Performance by vertical Restricted
Slide 13: e& UAE
e& UAE Continued topline growth Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) • Expanding customer base 14.5 15.0 15.3 8,211 8,502 8,434 driven by connecting net of 0.8 million new customers in 6% comparison to PY 6% 3% -2% 3% • Revenue growth is driven by 3% solid execution and
Slide 14: UAE Breakdown & Key KPIs
UAE Breakdown & Key KPIs Revenue uplift supported by strong operational KPIs Mobile Revenue(1) (AED mn) & YoY Growth (%) Fixed Revenue(2) (AED mn) & YoY Growth (%) Other Revenue(3) (AED mn) & YoY Growth (%) 3,111 3,036 2,870 2,887 2,865 2,504 2,534 2,943 2,398 5% 17% 5% 15% 3% 0% 0% -1% 6% Q1 2024 Q
Slide 15: e& international
e& international Strong performance attributed to organic and inorganic growth Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) • Customer base up 13.6% y/y +52% reaching 180mn supported by e& PPF consolidation and 176 180 7,138 6,717 strong customers acquisition 158 across main key
Slide 16: Maroc Telecom Group
Maroc Telecom Group Regulatory & competitive challenges in Morocco, while African subsidiaries continued to perform Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) -2% 77.1 79.3 79.9 3,159 3,253 3,121 • Subscriber growth led by strong momentum in Moov Africa 3% -2% 3% • Revenue dec
Slide 17: e& Egypt
e& Egypt Outstanding growth in local currency and 5G license acquisition Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) +49% • Higher customer base 38.0 39.0 1,035 1,039 1,020 attributed to strong 34.8 momentum and attractive promotions 3% -2% 3% 26% • Maintained strong double- di
Slide 18: PTCL Group
PTCL Group Strong revenue and profitability growth Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) +26% 27.7 28.2 28.8 782 813 • Subscriber growth driven by 650 mobile customer acquisition in mobile and fiber. 25% 3% -2% 18% • Sustained revenue growth on higher demand for data 7% a
Slide 19: e& enterprise
e& enterprise Improving revenue and EBITDA trends e& enterprise Highlights Revenue (AED mn) & YoY Growth (%) EBITDA (AED mn) & EBITDA Margin (%) (1) +17% • Revenue growth trend improving 821 88 YoY with Growth across all segments; in particular, Cloud 81 3% -2% 3% 703 and CX • Continued revenue dive
Slide 20: e& life
e& life Strong topline growth across all segments e& life Highlights Revenue (AED mn) & YoY Growth (%) EBITDA (AED mn) & EBITDA Margin (%) (1) +34% 599 • e& life maintained strong year over year revenue growth (+34%)3% -2% 3% 447 • All segments delivered revenue growth and especially robust within C
Slide 21: e& life Key Highlights Q1-2025
e& life Key Highlights | Q1-2025 3.2x 1M+ + 160% Total GTV in Q1-25 vs. Q1-24 1 TOTAL GTV CARDS ISSUED Q1-25 vs. Q1-24 as of Q1-25 GTV per USER grew by +139% in Q1-25 vs. Q1-242 3.8x 1.68M REMITTANCE REGISTERED CAREEM + members contribution to GTV GTV USERS crossed 50% in Q1-25 +9p.p. vs. Q1-24 Q1-2
Slide 22: Guidance
Guidance Restricted
Slide 23: 2025 Guidance
2025 Guidance Overall Q1 is ahead of guidance Q1 2025 FY 2025 Actuals Guidance Revenue Growth (%) 22.2% 17%-20% Constant Currency EBITDA Margin (%) 43.6% ~43% EPS (AED) 0.62 1.26 (1) CAPEX/Revenue (%) 10% ~16% Excluding spectrum & licenses 1) Excluding the impact of Khazna sale transaction Investor
Slide 24: Restricted
Restricted
e& (Emirates Telecommunications Group Company PJSC) — Q1 2025 Earnings Presentation on 6ix