Emirates Telecom. Group Company (etisalat Group) Pjsc · ADX:EAND
Emirates Telecom. Group Company (etisalat Group) Pjsc — e& (Emirates Telecommunications Group Company PJSC) — Q2 2025 Earnings Presentation
26 slides from Emirates Telecom. Group Company (etisalat Group) Pjsc's earnings presentation, Jul 31, 2025
Slide 1: Q2 2025 Results Presentation
Q2 2025 Results Presentation 31 July 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 Highlights Q2 2025
Key Highlights Q2 2025 Strategic Assets Ahead of guidance Partnership Monetization Strong Financial Maroc Telecom & Inwi Partial Divestment of e&’s Performance strategic partnership stake in Airalo Progressive AI 5G dividends Collaboration between e& 5G Slicing Technology Interim DPS enterprise & Mi
Slide 5: Key Financial & Operational Highlights H1 2025
Key Financial & Operational Highlights H1 2025 % Customer Base Revenue EBITDA Net Profit 198mn 34.9bn 15.4bn 8.8bn +18.8% y/y +60.7% y/y +13.1% y/y +23.3% y/y Margin 44.1% Excluding gain on UAE +6.3% Organic growth1 Telco Margin Khazna +7.4% y/y 48.0% +13.7% y/y 1) Excluding the impact of e& PPF con
Slide 6: Group Financial Highlights
Group Financial Highlights Karim Bennis, e& group CFO Restricted
Slide 7: Group Financial Highlights Q2 2025
Group Financial Highlights Q2 2025 Strong financial and operational performance, ahead of full year guidance AED 18.0 bn AED 8.0 bn +28% y/y Revenue EBITDA 45% Consolidated Margin +27% y/y in Constant Currency 48% Telco Margin AED 3.5 bn AED 3.7 bn EPS 40 fils Net Profit Dividends Interim DPS 43 Fil
Slide 8: Group Revenue
Group Revenue (1) Robust topline growth fueled by all verticals, further enhanced by the consolidation of e& PPF Key Highlights Revenue (AED mn) & YoY Growth (%) Sources of Revenue Variance (AED mn) • Strong revenue growth supported by consolidation of e& PPF Telecom and +27% +28.1% +26.7% organic g
Slide 9: Group EBITDA
Group EBITDA (1) EBITDA growth led by the resilient performance of telecom verticals Key Highlights EBITDA (AED mn) & YoY Growth (%) Sources of EBITDA Variance (AED mn) • Strong EBITDA growth of 22% in +20% reported currency benefited from 8,034 +22.2% +20.5% the consolidation of e& PPF 7,355 1,389
Slide 10: Group Capex
Group Capex (1,2) Maintained a relatively stable capital intensity ratio Key Highlights CAPEX (AED mn) & Intensity Ratio (%) (1) Sources of CAPEX Variance (AED mn) • Group Capex excl. 2,493 +40.1% +52.8% licenses and spectrum 226 2,719 increased by 40.1% y/y, 34 2,493 394 9 22 mainly due to consolid
Slide 11: Group Financial Position
Group Financial Position Robust balance sheet; Committed to investment grade credit profile Key Highlights Cash & Cash Equivalents (AED mn) Total Debt (AED mn) • Cash balance reached AED 44,509 68,641 65,360 30.9 bn influenced by payout of final dividends & 30,862 47,721 Federal Royalty for FY 2024
Slide 12: Group Debt Profile
Group Debt Profile Diversified sources of debt Key Highlights Borrowings by Operations (AED mn) Borrowings by Currency (%) 42,015 MAD • Gross debt of AED 65.4 Others 5% billion 8% PKR 5% • 64% of3% debt is at Group -2% 3% level, mostly in bank borrowings 11,328 Euro AED 32% 50% 6,880 • Around 82% of
Slide 13: Group Dividends
Group Dividends Higher interim dividends DPS (fils) Interim Dividends (AED bn) 41.5 43.0 3.6 3.7 40.0 3.5 3% -2% 3% H1 2023 H1 2024 H1 2025 H1 2023 H1 2024 H1 2025 Payout Ratio (%) 1 Dividends Yield (%) 2 73.9 4.9 4.6 65.7 59.9 3.8 H1 2023 H1 2024 H1 2025 H1 2023 H1 2024 H1 2025 1) Excluding the net
Slide 14: Performance by vertical
Performance by vertical Restricted
Slide 15: e& UAE
e& UAE Disciplined execution drives growth in revenue and profitability Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) 15.3 15.5 8,213 8,434 8,623 14.6 • Expanding customer base by adding 0.9 million new 6% customers y/y 5% 5% 3% -2% 5% 3% 5% • Revenue increased y/y by 3% 5% due t
Slide 16: UAE Breakdown & Key KPIs
UAE Breakdown & Key KPIs Focus on value proposition to drive subscriber growth Mobile Revenue(1) (AED mn) & YoY Growth (%) Fixed Revenue(2) (AED mn) & YoY Growth (%) Other Revenue(3) (AED mn) & YoY Growth (%) 3,036 3,120 2,906 2,865 2,888 2,534 2,615 3,003 2,304 5% 4% 3% 13% 3% 0% -1% 7% 6% Q2 2024
Slide 17: e& international
e& international (1) Strong performance attributed to organic and inorganic growth Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) • Customer base up 13.7% y/y +59% reaching 183mn mainly due to 179.5 182.5 8,049 e& PPF consolidation and strong 7,138 160.5 customers acquisition acro
Slide 18: Maroc Telecom Group
Maroc Telecom Group Strong performance in African subsidiaries and strategic partnership in Morocco Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) -0.4% • Subscriber growth led by strong Moov Africa 78.4 79.9 80.1 3,451 3,206 3,121 • In Morocco, strategic partnership with Inwi aim
Slide 19: e& Egypt
e& Egypt Outstanding growth in local currency Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) +40% 39.0 40.0 1,102 35.8 1,020 • Strong customer acquisition y/y attributed to attractive 826 offering and promotions 3% -2% 3% 33% • Maintained strong double- 13% 12% 12% digit revenue g
Slide 20: PTCL Group
PTCL Group (1) Sustained strong revenue and profitability growth Key Highlights Subscribers (mn) Revenue (AED mn) & YoY Growth (%) +13% 28.0 28.8 28.8 813 817 733 • Subscriber growth driven by mobile and FTTH customer acquisition. 25% 3% -2% 4% 19% 4% • Sustained revenue growth 3% 12% on higher dema
Slide 21: e& enterprise
e& enterprise Revenue acceleration across all segments e& enterprise Highlights Revenue (AED mn) & YoY Growth (%) EBITDA (AED mn) & EBITDA Margin (%) (1) • Solid revenue growth y/y (+39%) due to growth across all segments; +39% +38% in particular, Cyber, Cloud and IoT 899 63 • Revenue diversificatio
Slide 22: e& life
e& life Revenue growth coupled with improvement in profitability e& life Highlights Revenue (AED mn) & YoY Growth (%) EBITDA (AED mn) & EBITDA Margin (%) (1) +22% 623 • e& life delivered year over year revenue 3% growth (+22%) -2% 3% 510 -29% • Careem and e&money segments leading the year over year
Slide 23: e& life Key Highlights Q2-2025
e& life Key Highlights | Q2-2025 3x 1.25M+ + 117% Total GTV in Q2-25 vs. Q2-24 1 TOTAL GTV CARDS ISSUED Q2-25 vs. Q2-24 as of Q2-25 GTV per USER grew by +74% in Q2-25 vs. Q2-242 3.1x 1.9M+ REMITTANCE REGISTERED CAREEM + members contribution to GTV GTV USERS crossed 55% in Q2-25 +7p.p. vs. Q2-24 Q2-2
Slide 24: Guidance
Guidance Restricted
Slide 25: 2025 Guidance
2025 Guidance Results ahead of guidance H1 2025 FY 2025 Actuals Guidance Revenue Growth (%) 24.5% 17%-20% Constant Currency EBITDA Margin (%) 44.1% ~43% EPS (AED) 1.01 1.26 (1) CAPEX/Revenue (%) 12.0% ~16% Excluding spectrum & licenses 1) Excluding the impact of Khazna sale transaction Investor Rela
Slide 26: We continue to bring strong results
We continue to bring strong results
e& (Emirates Telecommunications Group Company PJSC) — Q2 2025 Earnings Presentation on 6ix