Emirates Telecommunications Company Achieves Record Profit Growth
The du, one of the leading telecommunications companies in the United Arab Emirates, reported impressive results for the third quarter of 2024. In the first nine months, it achieved a 49.7% profit increase, bringing the total profit to 1.9 billion dirhams. The third-quarter net profit was 719 million dirhams, the highest quarterly result in the past three years.
According to du's financial report, total revenue increased by 9.1% compared to the same period last year, reflecting the growing popularity of the company's services and market presence. Additionally, EBITDA (earnings before interest, taxes, depreciation, and amortization) rose by 16.9%, reaching a record 48.3% EBITDA margin, the highest in the company's history.
Growth drivers and market trends
The Emirates' telecommunications sector is continuously growing, as demand for digitalization and advanced technology solutions rises. Du introduced several innovative services to enhance customer experience, significantly contributing to the strengthening of the company's financial performance. The rapid spread of 5G technology and the integration of IoT solutions (Internet of Things) also facilitated the development of a new customer base and revenue growth.
EBITDA and net profit records
The financial results for the third quarter of 2024 confirm du's stable market position. The record 48.3% EBITDA margin is evidence that the company is successfully optimizing operational costs while continuously expanding revenue sources. The net profit is also significant, reflecting du's economic measures and the success of meeting rising customer demands.
Sustainable growth and future prospects
Du's goals include ongoing technological development and ensuring sustainable growth to remain competitive in the telecommunications market.
