Emirates Integrated Telecommunications Company, known as du, has released remarkable financial results for the year 2024. The telecom operator reported a net profit surge of 49.1 percent, reaching AED 2.49 billion. Additionally, company revenues saw a 7.3 percent increase, totaling AED 14.64 billion, as reported by state media.

The board of directors at du has proposed an annual dividend of 54 fils per share, which represents a substantial 59 percent increase and marks the highest dividend in the company’s history. This impressive performance exceeded the initial guidance for the year. The company’s EBITDA margin reached 44.2 percent, showing an expansion of 1.7 percentage points, while EBITDA also grew by 11.6 percent.

In the fourth quarter of 2024, du’s revenue rose by 8.8 percent year-over-year, amounting to AED 3.9 billion. Overall, the full-year revenues of AED 14.6 billion surpassed the company’s projected growth of 5-7 percent, with positive performances across all business segments. This growth was driven by du’s competitive market environment, increased share in Mobile and Fixed services, and the expansion of its ICT offerings.

Specifically, mobile service revenues in Q4 increased by 8.0 percent year-over-year, reaching AED 1.7 billion. For the entire fiscal year 2024, mobile revenues grew by 7.3 percent to AED 6.5 billion, largely due to an expanding customer base, increased tourism activity, and a focus on high Average Revenue Per User (ARPU) products.

Malek Sultan Al Malek, Chairman of du, emphasized the company’s transformation journey from a traditional telecom operator to a comprehensive digital services provider. He noted that this progress was supported by the UAE’s resilient economy and ambitious digital agenda. Furthermore, he highlighted the introduction of the du Tech and du Infra sub-brands, which enhance B2B service offerings and better cater to market needs. The launch of du Pay was also mentioned as a significant step towards promoting financial inclusion, accessibility, and security.