Emirates Integrated Telecommunications Company PJSC Posts Record Growth in Q3 2024 - Investors Eye Strategic Expansion
Emirates Integrated Telecommunications Company PJSC, known as du, has reported exceptional financial results for Q3 2024, continuing its upward trajectory with significant growth across key performance indicators.
Summary
Emirates Integrated Telecommunications Company PJSC has demonstrated strong financial performance in Q3 2024, with significant increases in revenue, EBITDA, and net profit. The company's strategic initiatives and partnerships have been pivotal in driving growth and enhancing its market position.
Emirates Integrated Telecommunications Company PJSC, widely recognized as du, has released its financial results for the third quarter of 2024, showcasing remarkable growth across several key performance indicators. This report highlights the company's sustained commercial momentum and strategic execution, which have been instrumental in achieving these stellar results.
Key Performance Indicators
| Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Revenue (AED million) | 3,589 | 3,291 | 9.1% |
| EBITDA (AED million) | 1,734 | 1,483 | 16.9% |
| EBITDA Margin (%) | 48.3% | 45.1% | 3.2 pts |
| Net Profit (AED million) | 719 | 504 | 42.7% |
| Capex (AED million) | 511 | 527 | -3.0% |
| Operating Free Cash Flow (AED million) | 1,223 | 956 | 27.9% |
Year-over-Year Comparison
| Metric | 9M 2024 | 9M 2023 | Change |
|---|---|---|---|
| Revenue (AED million) | 10,763 | 10,078 | 6.8% |
| EBITDA (AED million) | 4,891 | 4,370 | 11.9% |
| Net Profit (AED million) | 1,903 | 1,271 | 49.7% |
| Capital Intensity (%) | 12.2% | 14.3% | -2.1 pts |
Analysis and Conclusion
The financial performance of du in Q3 2024 is a testament to the company's robust business strategy and effective execution. The significant increase in net profit, up by 42.7% compared to Q3 2023, highlights the company's ability to capitalize on market opportunities and manage costs effectively. The EBITDA margin reaching 48.3% is particularly noteworthy, marking the highest since the company's inception.
Furthermore, the strategic overhaul of the B2B portfolio and the launch of new sub-brands have positioned du as a leading Telecom and Digital Services Provider, expanding beyond traditional telecom services. The partnership with Orange further emphasizes du's commitment to innovation and digital transformation.
For investors, the strong financial results and strategic initiatives suggest a positive outlook for the company. The reaffirmation of FY 2024 guidance further instills confidence in du's future performance.
Source
Summary
The document is a review report and includes condensed consolidated financial statements for Emirates Integrated Telecommunications Company PJSC and its subsidiaries, covering the nine-month period ending on September 30, 2024.
