Page 32 - SAMENA Trends - March-April 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

benefit of all customer segments and
offer long-term sustainable value for our
shareholders, he said. “We’ve come this far
because we have capitalized our efforts in
providing outstanding customer services
at all times even with the rapid changes
the business landscape is seeing. We’ve
already invested in future technologies
to continue enhancing our customers’
experience.” As part of its strategy, e& will
enhance customers’ experiences across
all segments by ideating, designing,
and delivering a range of innovative and
breakthrough technologies, driven by its
track record of success. This strategy
is aimed at accelerating growth through
the creation of a resilient business model
that is representing the Group’s main
business pillars. Telecoms will continue
to retain the previous branding identity
while upholding the Group’s rich telecoms
the next chapter of our journey, we are solid ventures with key industry players. heritage, bolstering the Group’s strong
confident that we will continue to witness “We have worked tirelessly to come this telecoms infrastructure and maximizing
even greater success as we continue far, thanks to the support of the UAE value for its customer segments, in the
to create an environment with limitless leadership to the telecom sector, and we UAE and internationally. In addition, it will
possibilities built on solid foundations, will do what it takes to ensure that our expand into new geographic markets while
smart connectivity and fruitful collaborative solutions positively impact people’s lives continuing to drive operational performance
opportunities.” H.E. Jassem Mohamed at every touchpoint. This is in line with our in the 16 markets where it operates. e&
Bu Ataba Alzaabi highlighted a series of vision for e& to ‘Make Possible’. Enhancing life is focused on enhancing customer
achievements that has enabled e& to begin customer experiences and digitally delight by becoming an integral part of the
a new chapter, in line with its ambitious empowering societies will continue to be lives of its customers. The business pillar
strategy to amplify business growth the driving forces in everything we will has already made robust plans to deliver
across different segments. The Group was achieve in the future.” During the meeting, next-generation technologies and digital
named the strongest telecoms brand in the Hatem Dowidar, GCEO of e& shared that experiences that will bring the world to
world in January 2022, and also topped the the Group’s strong financial performance the customers’ fingertips through smart
Forbes MENA Top 10 most valuable listed resulted from successful international connectivity platforms in entertainment,
companies in the UAE. It reported a solid operations and steady improvements in retail and financial services. e& enterprise
net profit of AED 9.3 billion, an increase domestic operations despite persistent will be the driving force behind the digital
of 3.2% year on year. It also saw a 3.0% challenges in the markets where it operates. transformation of governments, corporates
increase in its aggregated subscriber He said: “This has been an exceptional and enterprises. Through its breakthrough
base, rising to 159 million. e& has also year for us as we delivered solid financial technology solutions in cybersecurity,
maintained the UAE’s network leadership performance and business growth across cloud, Internet of Things (IoT) and Artificial
with one of the fastest and most advanced all our operations in 2021. The Group’s Intelligence (AI), as well as deploying
networks in the world for the second year, consolidated revenues increased by 3.2% mega projects, e& enterprise will create
and global FTTH penetration leadership. to AED 53.3 billion and consolidated real business value as it continues to
H.E. Jassem Mohamed Bu Ataba Alzaabi net profit amounted to AED 9.3 billion, leverage its expertise as a digital managed
stated that value creation remains at the representing a 3.2% increase year-on- company having the strength and reach
core of the work e& does as it continues to year. Our consolidated EBITDA amounted of a global trusted partner. Maximizing
lead the change for growth. “We’ve already to AED 26.7 billion, representing a year-on- shareholder value while strengthening
witnessed a defining moment in our history year increase of 1.0% which resulted in an global presence is key to the e& strategy to
through our transformation as e&, thanks EBITDA margin of 50.1%. Dowidar spoke empower societies. e& capital will act as a
to the strong financials and standing in the at length about the efforts undertaken by pillar for growth for the Group as it drives
market. Our growth mindset will continue the Group on acquisitions and in pursuit of new acquisitions and mergers in line with
to guide us forward as we refocus our strategic partnerships for future business its vision for investing in ideas that make
efforts on investing in breakthrough growth. Its acquisition strategy is driven the future.
technologies, accelerating in-depth by the Group’s relentless commitment
market penetrations and capitalizing on to provide innovative solutions for the

32 MARCH-APRIL 2022