Emirates Integrated Telecommunications Company PJSC Posts Record 2024 Results with 49.1% Net Profit Growth
Emirates Integrated Telecommunications Company PJSC, known as du, has reported exceptional financial results for the year 2024, marked by significant revenue growth and record-breaking net profits.
Summary
Emirates Integrated Telecommunications Company PJSC (du) reported a 49.1% increase in net profit for 2024, reaching AED 2.5 billion. The company's revenue grew by 7.3% to AED 14.6 billion, and EBITDA increased by 11.6% to AED 6.5 billion. Du's strategic initiatives and partnerships have contributed to its strong market position and financial performance.
Analysis of Emirates Integrated Telecommunications Company PJSC's 2024 Financial Performance
Emirates Integrated Telecommunications Company PJSC, commonly known as 'du', has delivered outstanding financial results for the year 2024. The company reported a net profit growth of 49.1%, reaching a record AED 2.5 billion. This remarkable performance underscores du's ability to drive both top-line expansion and bottom-line improvement.
Key Performance Indicators
| KPI | FY 2024 | FY 2023 | Change |
|---|---|---|---|
| Revenue (AED million) | 14,636 | 13,636 | 7.3% |
| Operating Income (AED million) | 6,472 | 5,800 | 11.6% |
| Net Income (AED million) | 2,488 | 1,668 | 49.1% |
| Earnings per Share (AED) | 0.54 | 0.34 | 59% |
| EBITDA Margin (%) | 44.2% | 42.5% | 1.7pp |
| Debt Ratio | Not Disclosed | Not Disclosed | - |
| Interest Coverage Ratio | Not Disclosed | Not Disclosed | - |
Comparison with Previous Reports
In comparison to previous years, du has consistently demonstrated financial growth. The revenue for 2024 increased by 7.3% compared to 2023, while EBITDA grew by 11.6%. The net profit margin also saw a significant rise, reflecting the company's strategic focus on profitability and cost efficiency.
Conclusion and Investor Analysis
Du's financial performance in 2024 highlights its strong market position and effective strategic initiatives. The company's partnerships with Orange and Telefónica have further bolstered its innovation and growth prospects. With a robust balance sheet and a record dividend payout, du presents a promising investment opportunity. However, investors should remain cautious of external economic factors that may impact future performance.
Source
Summary
The text refers to the consolidated financial statements of Emirates Integrated Telecommunications Company PJSC and its subsidiaries for the year ending December 31, 2024.
