e& claimed the top spot in the Brand Finance Middle East 150 and Brand Finance UAE 50 reports for 2024, and was consequently recognized as the fastest-growing technology brand in the Middle East.
Emirates Integrated Telecommunications Company (EITC), commercially rebranded as du, has published its financial results for Q1 2024. Revenues increased by 4.1% to AED 3.58 billion, reflecting the company’s continuous commercial momentum and market competitiveness. Notably, the digital telco’s net profit reached AED 603 million, a substantial 62.7% increase year-on-year, primarily reflecting a strong EBITDA growth.
Ooredoo Group announced its financial results for the first quarter of the year on a strong note. To highlight, the company delivered a revenue of QAR 5.9 billion, up by 4%, with an increase in normalized net profit of QAR 1 billion, up by 26%.
Nokia has announced that e& UAE, the telecom arm of e&, will leverage Nokia’s cloud interconnect solution to provide connectivity services for hyperscalers in the UAE. By using Nokia’s FP5-based technology, e& UAE can now offer significantly-higher, quality connectivity to hyperscalers in terms of performance, scale, and security to support mission-critical applications delivered across evolved business-class services.
Zain KSA has signed the ‘Sustainability Champions Initiative,’ a pivotal initiative spearheaded by the Ministry of Economy and Planning during the World Economic Forum, in Riyadh. Recognized as one of the Kingdom's sustainability pioneers, Zain KSA has been selected as one of the top 22 national companies due to its unwavering commitment to sustainable practices.
Bahrain Network (BNET), the national company responsible for providing fiber-based broadband in the Kingdom of Bahrain, has proudly announced the appointment of Dr. Mohamed Tayeb Mahmood as its Chief Technical Officer (CTO).
e& has released its consolidated financial results for Q1 2024, reporting a consolidated revenue of AED 14.2 billion, growing 9% year-over-year, while consolidated net profit increased to AED 2.3 billion, a year-over-year growth of 7%. The group’s consolidated EBITDA reached AED 6.4 billion, growing 3% year-over-year, resulting in an EBITDA margin of 45%.
Vodafone Qatar has announced its financial results for the first quarter of the year, showing positive improvements across all key indicators.
Omantel has proudly shared their achievements for 2023, which reflect the company’s commitment to innovation, community support, and leadership in the ICT sector in the Sultanate of Oman.
By Elvi Correos, Senior Journalist, Telecom Review Group
