Emirates Integrated Telecommunications Company PJSC: A Closer Look at Q1 2024 Financials
An in-depth analysis of the Q1 2024 financial results of Emirates Integrated Telecommunications Company PJSC, a leading telecommunications company in the UAE, revealing a promising outlook.
Summary
Emirates Integrated Telecommunications Company PJSC reported a 63% increase in net profit in Q1 2024, driven by a 4.1% revenue increase and a 16.2% rise in EBITDA. The company's mobile customer base grew by 5.7% while its fixed customer base rose by 11.1%. The launch of "du Pay," a digital financial service, marked a significant step towards diversifying the company's business activities.
Emirates Integrated Telecommunications Company PJSC, a UAE-based telecommunications giant, has reported a 63% surge in net profit in Q1 2024, driven by a 4.1% revenue increase to AED 3.58 billion and a 16.2% rise in EBITDA to AED 1.59 billion. This robust performance has led to an expansion of the company's EBITDA margin by 4.6 points to 44.3%.
Notably, the company's mobile customer base experienced a growth of 5.7%, reaching 8.7 million subscribers. Meanwhile, its fixed customer base also saw an 11.1% increase, rising to 616,000 subscribers. These growth figures indicate a strong market presence and a potential for further expansion.
The launch of "du Pay," a digital financial service, marked a significant step towards diversifying the company's business activities. This move is indicative of the company's forward-thinking approach and its readiness to adapt to the rapidly evolving digital landscape.
The company also highlighted the new royalty and corporate tax regime, re-affirming its guidance in the process. This transparency is an encouraging sign for potential investors.
Given the company's impressive financial performance and its proactive approach towards diversification, it is reasonable to have an optimistic outlook for the future of the company. Therefore, it is suggested that the company's stock should be considered for purchase by investors looking for growth potential.
Source
Summary
Emirates Integrated Telecommunications Company PJSC reported a 63% increase in net profit in Q1 2024, driven by a 4.1% revenue increase to AED 3.58 billion and a 16.2% rise in EBITDA to AED 1.59 billion. The company's EBITDA margin expanded by 4.6 points to 44.3%. The launch of "du Pay," a digital financial service, marked a significant step towards diversifying the company's business activities. The company's mobile customer base grew by 5.7% to 8.7 million subscribers, while its fixed customer base rose by 11.1% to 616,000 subscribers. The new royalty and corporate tax regime was also highlighted, and the company re-affirmed its guidance.
