Emirates Integrated Telecommunications Company Pjsc · DFM:DU
Emirates Integrated Telecommunications Company Pjsc — FY2024 Earnings Presentation
25 slides from Emirates Integrated Telecommunications Company Pjsc's earnings presentation, Feb 11, 2025
Slide 1: Q4 & FY 2024 results
Q4 & FY 2024 results February 11, 2025 Fahad Al Hassawi I Chief Executive Officer Kais Ben Hamida I Chief Financial Officer
Slide 2: Disclaimer
Disclaimer This document has been prepared by Emirates Integrated Telecommunications Company PJSC (the “Company”) solely for presentation purposes. The information contained in this document has not been independently verified and no representation or warranty, expressed or implied, is made as to, a
Slide 3: Company highlights Q4/FY 2024
Company highlights Q4/FY 2024
Slide 4: Q4 2024 key takeaways
Q4 2024 key takeaways Strong operational and financial performance exceeding upward-revised guidance Strong growth Strategy execution across all major financial including transformative B2B metrics portfolio Highest dividend Guidance exceeded in the history of the company at Strong revenues growth a
Slide 5: FY 2024 highlights
FY 2024 highlights Operational and financial momentum Highest dividend per share 54 fils Strong cash generation EBITDA growth Guidance exceeded Moderating Capex Revenue growth highlighting our strong market position EBITDA margin expansion Reflecting volume, mix, efficiencies 11.6% Net profit growth
Slide 6: FY 2024 environment and business highlights
FY 2024 environment and business highlights Supportive environment and important milestones reached UAE strong Commercial Accelerated Advancing fundamentals momentum innovation ESG • Strong GDP growth forecast • New B2B initiatives • Collaboration with global • Employee engagement telecom players •
Slide 7: Financial highlights Q4/FY 2024
Financial highlights Q4/FY 2024
Slide 8: Q4 and FY 2024 financial highlights: Strong revenue growth
Q4 and FY 2024 financial highlights Strong revenue growth Revenues (AED million) Revenues breakdown (AED million) Revenues growth throughout all segments +8.8% +8.8% Other 1,125 1,029 +9.3% 3,873 Service revenues growth primarily driven by 3,558 2,748 Service 2,529 +8.6% robust growth in subscriber
Slide 9: Q4 and FY 2024 financial highlights: Profitable growth
Q4 and FY 2024 financial highlights Profitable growth EBITDA (AED million) and margin (%) Net profit (AED million) +10.6% +47.5% 1,581 585 2024 EBITDA and margin growth driven by revenue 1,430 396 growth and better mix 40.2% 40.8% Q4’23 Q4’24 Q4’23 Q4’24 2024 net profit growth mainly reflecting high
Slide 10: Q4 and FY 2024 financial highlights: Strong cash generation
Q4 and FY 2024 financial highlights Strong cash generation Capex (AED million) and capital intensity (%) X% Capital intensity(1) 759 729 2,198 Capex down y-o-y reflecting normalisation 2,042 21.3% 18.8% 16.1% 14.0% Q4’23 Q4’24 FY’23 FY’24 Operating cash flow reflects growing EBITDA and normalising c
Slide 11: Q4 and FY 2024 financial highlights: liquidity and dividend
Q4 and FY 2024 financial highlights Strong liquidity, healthy balance sheet and historical dividend Cash and cash equivalent (AED Total liquidity (AED million) million) 1,981 2,283 4,264 Solid net cash position supported by strong 1,937 cash generation 2,283 2,283 31-Dec-23 31-Dec-24 Cash and cash U
Slide 12: Segment highlights Q4/FY 2024
Segment highlights Q4/FY 2024
Slide 13: Mobile segment
Mobile segment Growing subscriber base and favourable mix Mobile subscriber base up 4.2% to 8.9 million Mobile subscriber base (thousand) subscribers 4.2% 8,554 8,662 8,916 8,245 8,316 Postpaid customer base up 10.0% to 1.8 million subscribers driven by innovative 6,979 7,116 6,918 6,530 6,546 solut
Slide 14: Fixed segment
Fixed segment Sustained success of our offers Fixed subscriber base (thousand) Fixed subscriber base up 12.8% with net- 12.8% additions of over 27,000 subscribers over the quarter 655 682 Continued appeal of our Home Wireless 604 616 630 offerings and network expansion Q4’23 Q1’24 Q2’24 Q3’24 Q4’24
Slide 15: "Other revenues"
“Other revenues” Momentum in “beyond the core” activities Other revenues (million) “Other revenues” grew by 9.3% y-o-y to AED 1.1 9.3% 8.7% billion Growth driven by ICT, visitor roaming, 1,125 4,085 1,029 1,018 998 944 3,757 interconnect and handset sale Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 FY’23 FY’24 suc
Slide 16: Priorities and Guidance 2025
Priorities and Guidance 2025
Slide 17: 2025 priorities and guidance
2025 priorities and guidance Confidence in continuous momentum and the execution of our strategy 2025 priorities 2025 guidance Diversify our revenue streams and generate profitable growth in core and non-core Continue managing the business efficiently to improve margins Revenue 5-7% Push the digital
Slide 18: Q&A
Q&A 18
Slide 19: Appendix
Appendix 19
Slide 20: Appendix: Operational KPIs
Appendix Operational KPIs 2023 2024 2024 2024 2024 2024 FY Q1 Q2 Q3 Q4 FY Mobile customers (thousand)(1) 8,554 8,662 8,245 8,316 8,916 8,916 of which prepaid 6,918 6,979 6,530 6,546 7,116 7,116 of which postpaid 1,636 1,683 1,715 1,770 1,800 1,800 Mobile customers net-adds (thousand)(2) 658 108 -417
Slide 21: Appendix: P&L
Appendix P&L AED million 2024 2023 Change 2024 2023 Change Q4 Q4 % FY FY % Revenues 3,873 3,558 8.8% 14,636 13,636 7.3% Cost of sales (1,324) (1,260) 5.1% (4,818) (4,670) 3.2% Indirect costs (968) (868) 11.4% (3,345) (3,167) 5.6% EBITDA 1,581 1,430 10.6% 6,473 5,800 11.6% EBITDA margin 40.8% 40.2% 0
Slide 22: Appendix: Balance Sheet - Assets
Appendix Balance Sheet - Assets AED million 2024 2023 31 Dec 31 Dec AED million 2024 2023 Non-current assets 31 Dec 31 Dec Current assets Property, plant and equipment 9,838 9,723 Inventories 176 102 Right-of-use assets 1,657 1,597 Lease receivable 19 18 Intangible assets and goodwill 1,260 1,111 Tr
Slide 23: Appendix: Balance Sheet – Equity and liabilities
Appendix Balance Sheet – Equity and liabilities AED million 2024 2023 31 Dec 31 Dec Equity Share capital 4,533 4,533 AED million 2024 2023 31 Dec 31 Dec Share premium 232 232 Current liabilities Other reserves 2,250 2,251 Trade and other payables 3,533 5,247 Retained earnings 2,863 2,227 Federal roy
Slide 24: Appendix: Cash flow statement
Appendix Cash flow statement AED million 2024 2023 AED million 2024 2023 FY FY FY FY Net profit 2,488 1,668 Dividend paid (1,858) (1,179) Adjustment for non-cash items 4,412 2,533 Repayment of lease liabilities (524) (594) Change in working capital (359) 1,943 Interest paid on lease liabilities (64)
Slide 25: Thank you
Thank you Contact: Meet us during these upcoming events: investor.relations@du.ae HSBC MENAT future Forum – Dubai +971 55 953 0307 February 26th and 27th, 2025 EFG one-on-one conference 2025 – Dubai April 7-10th, 2025
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