Emirates Integrated Telecommunications Company PJSC (du) has unveiled exceptional financial results for the third quarter of 2024, showcasing remarkable growth across all key metrics. The telecom leader reported a stellar 9.1% revenue increase and an impressive 16.9% surge in EBITDA, achieving its highest-ever quarterly EBITDA margin of 48.3% since company inception.
The company's Q3 net profit skyrocketed to Dh719 million - marking its strongest quarterly performance in three years - while nine-month profits soared by an extraordinary 49.7%. This outstanding achievement reflects du's successful execution of its strategic vision, combining commercial excellence with disciplined cost management as it transforms from traditional telecom services to becoming the UAE's premier Telecom and Digital Services Provider.
du demonstrated powerful commercial momentum during the quarter, with total revenues climbing to Dh3.6 billion - a solid testament to the company's growing market leadership and service innovation.
The profitability story proved even more compelling, as EBITDA jumped to Dh1.7 billion through enhanced operational efficiencies and smart cost optimization strategies, establishing new benchmarks for industry performance with that record-setting margin approaching fifty percent.
Net profit growth outpaced even these strong results, leaping by an astonishing 42.7% to reach Dh0.7 billion for the quarter while maintaining capital discipline - evidenced by a capital intensity ratio of just 12.2% over nine months.
The business segment saw transformative developments including a strategic brand portfolio refresh introducing two innovative sub-brands (du Tech and du Infra) alongside forging a landmark global partnership with Orange Corporation designed to accelerate digital transformation across regional enterprises.
"Our third quarter performance demonstrates our successful dual strategy of strengthening core connectivity while expanding into next-generation digital services," said Fahad Al Hassawi, Chief Executive Officer at du. "The launch of our new sub-brands represents more than just refreshed branding - it signals our fundamental evolution into becoming architects of comprehensive digital ecosystems through infrastructure modernization and technology innovation." "With robust cash generation supporting both continued investment in growth initiatives and strong shareholder returns, we're confidently reaffirming all aspects of our full-year guidance," he concluded.
