Emirates Telecom

Emirates Telecom. Group Company (Etisalat Group) PJSC

EANDStocksAbu Dhabi Securities ExchangeTelecommunications

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (AED)

1-5

	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025	Q4 2024Dec 31, 2024
Operating Summary
Revenue	19.32B	18.63B	18.05B	16.86B	16.47B
Cost of Revenue	13.15B	12.60B	11.91B	11.17B	10.85B
Gross Profit	6.17B	6.03B	6.14B	5.69B	5.63B
SG&A	509.47M	353.27M	368.13M	353.75M	439.02M
Operating Expenses	697.65M	633.46M	632.95M	647.04M	555.43M
Operating Income	5.47B	5.40B	5.50B	5.05B	5.07B
Interest Income	0.57B	0.51B	1.67B	5.35B	0.48B
Interest Expense	-5.38B	-0.99B	-1.40B	-0.70B	—
Other Income/Expense	-1.28B	—	—	—	-0.76B
Pretax Income	5.05B	5.40B	6.61B	9.72B	4.34B
Income Tax	2.08B	2.08B	2.31B	4.16B	1.97B
Net Income	2.55B	2.99B	3.47B	5.35B	2.30B
EBITDA	8.04B	8.19B	7.82B	7.14B	6.42B
EBIT	5.47B	5.40B	5.50B	5.05B	5.07B
EPS (Basic)	0.29	0.34	0.40	0.62	0.26
EPS (Diluted)	0.29	0.34	0.40	0.62	0.26
Margins & Efficiency
Gross Margin %	+31.9%	+32.4%	+34.0%	+33.8%	+34.2%
EBITDA Margin %	+41.6%	+44.0%	+43.3%	+42.3%	+38.9%
Net Margin %	+13.2%	+16.0%	+19.2%	+31.8%	+13.9%
Revenue & Income
Revenue	19.32B	18.63B	18.05B	16.86B	16.47B
Revenue Growth (YoY)	+17.3%	+29.2%	+28.1%	+18.7%	+19.9%
Interest & Investment Income	0.57B	0.51B	1.67B	5.35B	0.48B
Earnings From Equity Investments	591.68M	496.85M	840.57M	19.39M	880.35M
Gain (Loss) on Sale of Investments	5.09B	—	—	—	-0.05B
Currency Exchange Gain (Loss)	11.65M	—	—	—	11.75M
Expenses & Provisions
Cost of Revenue	13.15B	12.60B	11.91B	11.17B	10.85B
Selling, General & Admin	509.47M	353.27M	368.13M	353.75M	439.02M
Operating Expenses	697.65M	633.46M	632.95M	647.04M	555.43M
Interest Expense	-5.38B	-0.99B	-1.40B	-0.70B	—
Other Non Operating Income (Expenses)	-1.28B	—	—	—	-0.76B
Asset Writedown	-24.85M	-0.73M	-1.05M	-0.18M	-19.23M
Impairment of Goodwill	—	—	—	—	-1.27B
D&A For EBITDA	2.56B	2.80B	2.31B	2.09B	1.34B
Profitability & Returns
Gross Profit	6.17B	6.03B	6.14B	5.69B	5.63B
Gross Margin	+31.9%	+32.4%	+34.0%	+33.8%	+34.2%
EBIT	5.47B	5.40B	5.50B	5.05B	5.07B
EBIT Margin	+28.3%	+29.0%	+30.5%	+29.9%	+30.8%
EBITDA	8.04B	8.19B	7.82B	7.14B	6.42B
EBITDA Margin	+41.6%	+44.0%	+43.3%	+42.3%	+38.9%
EBT Excluding Unusual Items	-0.01B	5.40B	6.61B	9.72B	5.68B
Pretax Income	5.05B	5.40B	6.61B	9.72B	4.34B
Operating Income	5.47B	5.40B	5.50B	5.05B	5.07B
Operating Margin	+28.3%	+29.0%	+30.5%	+29.9%	+30.8%
Profit Margin	+13.2%	+16.0%	+19.2%	+31.8%	+13.9%
Net Income	2.55B	2.99B	3.47B	5.35B	2.30B
Net Income to Common	2.55B	2.99B	3.47B	5.35B	2.30B
Net Income to Company	2.97B	3.33B	4.30B	5.55B	2.37B
Net Income Growth	+11.0%	+0.8%	+9.7%	+129.9%	-12.3%
Earnings From Continuing Ops.	2.97B	3.33B	4.30B	5.55B	2.37B
Minority Interest in Earnings	-426.64M	-339.17M	-831.81M	-198.66M	-70.78M
Income Tax Expense	2.08B	2.08B	2.31B	4.16B	1.97B
Effective Tax Rate	+41.2%	+38.5%	+34.9%	+42.8%	+45.4%
Per Share & Capital
EPS (Basic)	0.29	0.34	0.40	0.62	0.26
EPS (Diluted)	0.29	0.34	0.40	0.62	0.26
EPS Growth	+11.0%	+0.8%	+9.7%	+129.9%	-12.0%
Dividend Per Share	0.47	—	0.43	—	0.42
Shares Change (YoY)	—	—	—	—	-0
Shares Outstanding (Basic)	8.70B	8.70B	8.70B	8.70B	8.70B
Shares Outstanding (Diluted)	8.70B	8.70B	8.70B	8.70B	8.70B
Dividend Growth	+13.3%	—	+3.6%	—	+3.8%
Free Cash Flow	7.04B	7.40B	0.03B	3.51B	8.28B
Free Cash Flow Margin	+36.4%	+39.7%	+0.1%	+20.8%	+50.2%
Free Cash Flow Per Share	0.81	0.85	0.00	0.40	0.95
Payout Ratio	+8.4%	+139.1%	+106.6%	+0.4%	+2.1%

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Quarterly (AED)

1-5

	Q4 2025Dec 31, 2025	Q3 2025Sep 30, 2025	Q2 2025Jun 30, 2025	Q1 2025Mar 31, 2025	Q4 2024Dec 31, 2024
Operating Summary
Revenue	19.32B	18.63B	18.05B	16.86B	16.47B
Cost of Revenue	13.15B	12.60B	11.91B	11.17B	10.85B
Gross Profit	6.17B	6.03B	6.14B	5.69B	5.63B
SG&A	509.47M	353.27M	368.13M	353.75M	439.02M
Operating Expenses	697.65M	633.46M	632.95M	647.04M	555.43M
Operating Income	5.47B	5.40B	5.50B	5.05B	5.07B
Interest Income	0.57B	0.51B	1.67B	5.35B	0.48B
Interest Expense	-5.38B	-0.99B	-1.40B	-0.70B	—
Other Income/Expense	-1.28B	—	—	—	-0.76B
Pretax Income	5.05B	5.40B	6.61B	9.72B	4.34B
Income Tax	2.08B	2.08B	2.31B	4.16B	1.97B
Net Income	2.55B	2.99B	3.47B	5.35B	2.30B
EBITDA	8.04B	8.19B	7.82B	7.14B	6.42B
EBIT	5.47B	5.40B	5.50B	5.05B	5.07B
EPS (Basic)	0.29	0.34	0.40	0.62	0.26
EPS (Diluted)	0.29	0.34	0.40	0.62	0.26
Margins & Efficiency
Gross Margin %	+31.9%	+32.4%	+34.0%	+33.8%	+34.2%
EBITDA Margin %	+41.6%	+44.0%	+43.3%	+42.3%	+38.9%
Net Margin %	+13.2%	+16.0%	+19.2%	+31.8%	+13.9%
Revenue & Income
Revenue	19.32B	18.63B	18.05B	16.86B	16.47B
Revenue Growth (YoY)	+17.3%	+29.2%	+28.1%	+18.7%	+19.9%
Interest & Investment Income	0.57B	0.51B	1.67B	5.35B	0.48B
Earnings From Equity Investments	591.68M	496.85M	840.57M	19.39M	880.35M
Gain (Loss) on Sale of Investments	5.09B	—	—	—	-0.05B
Currency Exchange Gain (Loss)	11.65M	—	—	—	11.75M
Expenses & Provisions
Cost of Revenue	13.15B	12.60B	11.91B	11.17B	10.85B
Selling, General & Admin	509.47M	353.27M	368.13M	353.75M	439.02M
Operating Expenses	697.65M	633.46M	632.95M	647.04M	555.43M
Interest Expense	-5.38B	-0.99B	-1.40B	-0.70B	—
Other Non Operating Income (Expenses)	-1.28B	—	—	—	-0.76B
Asset Writedown	-24.85M	-0.73M	-1.05M	-0.18M	-19.23M
Impairment of Goodwill	—	—	—	—	-1.27B
D&A For EBITDA	2.56B	2.80B	2.31B	2.09B	1.34B
Profitability & Returns
Gross Profit	6.17B	6.03B	6.14B	5.69B	5.63B
Gross Margin	+31.9%	+32.4%	+34.0%	+33.8%	+34.2%
EBIT	5.47B	5.40B	5.50B	5.05B	5.07B
EBIT Margin	+28.3%	+29.0%	+30.5%	+29.9%	+30.8%
EBITDA	8.04B	8.19B	7.82B	7.14B	6.42B
EBITDA Margin	+41.6%	+44.0%	+43.3%	+42.3%	+38.9%
EBT Excluding Unusual Items	-0.01B	5.40B	6.61B	9.72B	5.68B
Pretax Income	5.05B	5.40B	6.61B	9.72B	4.34B
Operating Income	5.47B	5.40B	5.50B	5.05B	5.07B
Operating Margin	+28.3%	+29.0%	+30.5%	+29.9%	+30.8%
Profit Margin	+13.2%	+16.0%	+19.2%	+31.8%	+13.9%
Net Income	2.55B	2.99B	3.47B	5.35B	2.30B
Net Income to Common	2.55B	2.99B	3.47B	5.35B	2.30B
Net Income to Company	2.97B	3.33B	4.30B	5.55B	2.37B
Net Income Growth	+11.0%	+0.8%	+9.7%	+129.9%	-12.3%
Earnings From Continuing Ops.	2.97B	3.33B	4.30B	5.55B	2.37B
Minority Interest in Earnings	-426.64M	-339.17M	-831.81M	-198.66M	-70.78M
Income Tax Expense	2.08B	2.08B	2.31B	4.16B	1.97B
Effective Tax Rate	+41.2%	+38.5%	+34.9%	+42.8%	+45.4%
Per Share & Capital
EPS (Basic)	0.29	0.34	0.40	0.62	0.26
EPS (Diluted)	0.29	0.34	0.40	0.62	0.26
EPS Growth	+11.0%	+0.8%	+9.7%	+129.9%	-12.0%
Dividend Per Share	0.47	—	0.43	—	0.42
Shares Change (YoY)	—	—	—	—	-0
Shares Outstanding (Basic)	8.70B	8.70B	8.70B	8.70B	8.70B
Shares Outstanding (Diluted)	8.70B	8.70B	8.70B	8.70B	8.70B
Dividend Growth	+13.3%	—	+3.6%	—	+3.8%
Free Cash Flow	7.04B	7.40B	0.03B	3.51B	8.28B
Free Cash Flow Margin	+36.4%	+39.7%	+0.1%	+20.8%	+50.2%
Free Cash Flow Per Share	0.81	0.85	0.00	0.40	0.95
Payout Ratio	+8.4%	+139.1%	+106.6%	+0.4%	+2.1%