E& recently declared its consolidated financial results for H1 2023 and that it has signed a binding agreement with PPF Group (“PPF”) to acquire a controlling stake (50% + 1 share economic stake) in PPF Telecom Group’s (“PPF Telecom”) assets in Bulgaria, Hungary, Serbia, and Slovakia. PPF Telecom is the telecommunications division of PPF.
E&’s consolidated revenues during the H1 2023 touched AED 26.6 billion a YoY increase of 1.1 per cent. Consolidated net profit recorded AED 4.7 billion while consolidated EBITDA reached AED 12.8 billion, resulting in an EBITDA margin of 48 percent.
In the UAE, etisalat by E& registered 13.9 million subscribers an increase of 5.1 percent compared to the same period of last year, The Group’s aggregate subscribers reached 165 million, a YoY increase of 3.1 percent.
