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e& announced today that its shareholders have approved the Board’s proposal to distribute a cash dividend of AED 0.4 per share for the second half of 2022 during the Group’s Annual General Meeting (AGM). The total annual dividend per share of AED 0.8 demonstrates the Group’s commitment to creating value for shareholders.
The AGM provides shareholders with an opportunity to review the Group’s performance, ask questions and provide feedback.
During the meeting, the Board of Directors commended e& for its impressive performance in 2022, which demonstrates the success of the Group’s transformation and development as a global technology and investment group.
His Excellency Jassem Mohamed Bu Ataba Alzaabi, Chairman of e&, thanked the Board members for their support. He reaffirmed e&’s commitment to serving customers and creating long-term shareholder value, while continuing to strive to have a positive impact on the communities they serve.
“As we enter the next chapter of our journey, we believe we will continue to witness even greater success as we continue to create an environment of limitless possibilities built on strong foundations, intelligent connections and productive opportunities for collaboration .”
Historically strong performance
HE Jassem Mohamed Bu Ataba Alzaabi highlighted how e&’s core business has maintained solid performance over the past 12 months, with new verticals and M&A activity contributing significantly to its success.
He said: “e&’s exceptional financial performance, with consolidated revenue of AED 52.4 billion and record net profit of AED 10 billion in 2022, is a strong testament to the success of our business transformation strategy. Our strong performance reflects the With our outstanding financial performance, successful business strategy, ambitious goals and shareholders’ confidence in our future, we remain committed to achieving sustained growth and enhancing long-term value for our customers and shareholders.
“The Group’s transformation aims to place e& at the forefront of a rapidly changing technology landscape. It symbolizes our desire to stay ahead in a rapidly changing market, provide innovative solutions to our customers, and demonstrate our determination to adapt and thrive .”
unlock new opportunities
During the session, e& Group CEO Hatem Dowidar shared how the group’s focus on maximizing operational value creation and prudent investments through M&A has resulted in a strong performance, key milestones and achievements in 2022.
He said: “e& reported consolidated revenue of AED 52.4 billion, up 4.7% year-on-year at constant exchange rates, driven by the Group’s successful business transformation, expansion into new business verticals and diversification of revenue streams. Consolidated EBITDA increased by 3.7% year-on-year at constant exchange rates to AED 26.2 billion, with an EBITDA margin of 50%, highlighting the strong profitability of e& operations.
“We are committed to staying at the forefront of digital transformation, empowering our customers to innovate and overcome their business challenges. We are leveraging cutting-edge technologies such as 5G, artificial intelligence, IoT, blockchain and cloud to achieve this goal. We have Partnerships have been established with the world’s leading tech giants to bring the best solutions and innovations to our clients. Additionally, the group has strategically pursued M&A for continued growth and diversification, with a focus on non-telecom verticals. ”
As part of its strategy, e&’s vertical business embodies an evolutionary model that enables us to capitalize on opportunities in the rapidly changing digital environment. By focusing on innovation, e& aims to provide high-value digital solutions to meet the changing needs of customers in different markets.
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