Image: du
Emirates Integrated Telecommunications Company (du) reported a 14.6 per cent increase in net income and an 8 per cent rise in revenues for the first nine months of 2025, driven by continued operational discipline, strong commercial performance, and sustained growth across its mobile, fixed, and ICT segments.
Revenue for the period reached Dhs 11.62bn, up from Dhs10.76bn a year earlier, while net profit rose to Dhs2.18 bn from Dhs1.90bn. EBITDA grew 12.5 per cent year-on-year to Dhs5.5bn, with a margin of 47.3 per cent, an improvement of 1.9 percentage points compared to the same period in 2024.
For Q3 alone, du reported revenues of Dhs3.87 bn, up 7.9 per cent from Dhs3.59 bn in Q3 2024.
EBITDA stood at Dhs1.85 bn, up 6.7 per cent year-on-year, translating to a margin of 47.8 per cent.
On a normalised basis, excluding one-offs from the prior year related to authentication fee renegotiations, EBITDA increased by 16.8 per cent.
Quarterly net profit rose 1.8 per cent to Dhs732 m, while normalised net profit increased 25.8 per cent year-on-year.
Operating free cash flow improved 11 per cent to Dhs1.36bn, supported by stronger EBITDA and reduced Capex, which totalled Dhs 492 m, down from Dhs511 m a year earlier.
The company’s mobile customer base grew 10.3 per cent year-on-year to 9.2 million subscribers, with prepaid up 10.7 per cent to 7.2 millionand postpaid up 8.6 per cent to 1.9 million.
Fixed-line subscribers rose 9.7 per cent to 718,000, driven by growing demand for home wireless and fibre broadband services.
Mobile revenues climbed 8.4 per cent to Dhs1.8bn, while fixed revenues rose 8.9 per cent to Dhs1.1 bn.
Other revenues, including ICT, interconnection, and handset sales, grew 5.9 per cent to Dhs1bn.
Q3 performance strengthens du’s growth path
Fahad Al Hassawi, CEO of du, said the company’s third-quarter performance “reinforces the strong trajectory established in the first half of the year,” adding that the firm continues to deliver consistent results supported by solid fundamentals and robust subscriber growth.
“The successful completion of our secondary public offering strengthens du’s market profile by increasing free float and diversifying our investor base, positioning us for potential index inclusion,” Al Hassawi said. “We are progressing with determination on our strategic priorities, reinforcing growth in our core connectivity business while rapidly scaling our high-potential beyond-the-core segments.”
During the quarter, du completed the secondary public offering of 7.55 per cent of its share capital, increasing its free float to 27.7 per cent.
The transaction involved 75 per cent of the shares previously owned by Mubadala, and is expected to enhance liquidity, diversify the investor base, and support potential index inclusion.
The company reaffirmed its 2025 full-year guidance, maintaining its forecast for revenue growth between 6–8 per cent and EBITDA margins in the range of 45–47 per cent.
The telecom giant said it will continue investing in mobile and fixed network modernisation and expanding its ICT business, with a larger share of capital expenditures planned for the fourth quarter to support ongoing growth initiatives.
