Emirates Integrated Telecommunications Company PJSC (du) has unveiled solid financial results for the first quarter ending March 31, 2026, demonstrating reliable growth despite a slowdown experienced in March, attributed to regional geopolitical tensions and reduced travel activities.
The company's revenue reached AED 4.1 billion, marking a 6.9% increase year-on-year, primarily fueled by robust performance in mobile, fixed, and enterprise services during January and February. However, March's demand faced pressures, including diminished tourist arrivals, reduced roaming activities, and slower subscriber growth.
du’s EBITDA climbed 11.7% to AED 2.0 billion, achieving a record EBITDA margin of 49.5%. Net profit rose 15.5% year-on-year to AED 0.8 billion, bolstered by increased EBITDA and smart cost management.
Operating free cash flow also illustrated remarkable improvement, ascending 14.2% to AED 1.7 billion, reflecting solid earnings alongside disciplined capital investment. The capital expenditure for the quarter amounted to AED 386 million, with capital intensity recorded at 9.4%.
The company's mobile subscriber count expanded by 6.1% to 9.7 million, while postpaid users rose 9.6% to 2.0 million. The prepaid segment saw a 5.2% increase, aided by adaptable value plans. Additionally, the fixed-line customer base increased by 6.3% to 745,000, driven by the growing demand for home wireless and fiber services.
du highlighted its continued strength in enterprise connectivity and ICT services, as well as ongoing growth in its digital offerings. Despite temporary pressures on usage patterns in March, particularly in roaming and prepaid activations, overall network operations remained smooth and continuous.
The financial landscape remained solid, featuring a strong net cash position without any leverage on the balance sheet. In April, du also refinanced a revolving credit facility of AED 2 billion, extending its tenure to seven years on improved terms, thereby enhancing liquidity and financial flexibility.
The company outlined its intent to preserve its full-year guidance while attentively monitoring market conditions.
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