Connect with us

Technology

e& delivers record revenue and net profit in FY 2024 growing consolidated revenue 10.1% to AED 59.2 billion

Published

1 year ago

on

Net profit reached AED 10.8 billion, growing 4.3 per cent year-over-yearFull year dividend per share of 83 filse&’s footprint expanded to 38 countries with a subscriber base of 189.3 million across the Middle East, Asia, Africa, and Central and Eastern Europe e& emerged as the ‘World’s Fastest Growing Brand’ with brand portfolio and investments value exceeding US$ 20 billion 

ABU DHABI, UAE, Feb. 25, 2025 /PRNewswire/ — e& has delivered record financial performance in 2024, reporting a consolidated net profit of AED 10.8 billion, an increase of 4.3 per cent year-over-year (YoY). This milestone reflects three years of strategic transformation, reinforcing the Group’s position as a global technology group.

Consolidated revenues reached AED 59.2 billion, growing 10.1 per cent and 12.6 per cent in constant exchange rates, driven by growth across all business verticals. Consolidated EBITDA rose by 2.7 per cent YoY at constant exchange rates, reaching AED 26.5 billion.

e& UAE continued its solid growth trajectory, with its subscriber base surpassing 15 million, representing an increase of 5.4 per cent compared to the previous year. The group’s total subscriber base grew to 189.3 million, marking a 11.7 per cent increase compared to 2023.

Financial highlights for FY 2024

2024

2023

Per cent change

Revenue

AED 59.2 billion

AED 53.8 billion

10.1% (*)

Net Profit

AED 10.8 billion

AED 10.3 billion

4.3 %

EBITDA

AED 26.5 billion

AED 26.1 billion

1.3% (*)

Earnings per Share

AED 1.24

AED 1.18

4.3 %

Consolidated Group Subscribers

189.3 million

 169.5 million

11.7 %

(*) At constant exchange rates, revenue increased by 12.6 per cent, and EBITDA increased by 2.7 per cent YoY

 

e& sustained strong growth across all verticals, expanding its portfolio while doubling down on connectivity and digitalisation. By driving innovation and long-term value creation, the group remains committed to delivering sustainable returns to its shareholders.

Demonstrating this commitment, we delivered on the first year of our 3-year progressive dividend policy with an incremental increase of 3 fils (AED 0.03) every year for the fiscal years 2024, 2025, and 2026. This policy is set to elevate dividend per share (DPS) to reach 89 fils (AED 0.89) by FY 2026, reflecting the group’s confidence in its continued financial strength and growth prospects.

For FY 2024, the board has proposed a cash dividend of 41.5 fils (AED 0.415) per share for the second half (July to December) of 2024, bringing the total annual dividend to 83 fils (AED 0.83) per share—further reinforcing e&’s commitment to delivering consistent value to its shareholders.

H.E. Jassem Mohamed Bu Ataba Alzaabi, Chairman, e&, said: “2024 was a year of growth, driven by bold vision, AI-driven innovation, and relentless commitment to digital empowerment. Emerging as the “World’s Fastest Growing Brand” and establishing our first operational footprint in Europe were defining moments in e&’s journey. With a net profit of AED 10.8 billion and subscribers growing to 189.3 million, our performance reflects our strategic foresight and unwavering focus on value creation.

Beyond financial success, real growth is measured in impact. Guided by the UAE’s visionary leadership, we continue to drive economic progress, empower businesses, and transform lives across three continents. Our investments in AI ecosystems, intelligent platforms, and industry-defining solutions reinforce our role as a catalyst for change.

At the heart of our success is our talent—the driving force of our innovation. Our leadership in Emiratisation and commitment to workforce upskilling is not just a business responsibility but a strategic advantage. By equipping the next generation with AI and digital expertise, we are building the UAE’s digital future and cultivating leaders who will drive global transformation.

As we move forward, we will continue to leverage technology as a force for progress— where AI enhances lives, networks fuel digital economies, and every connection we build opens doors to something greater.”

Hatem Dowidar, Group Chief Executive Officer, e&, added: “In 2024, we accelerated our transformative journey as a Global Technology Group—scaling AI, expanding into Europe, and driving impact across three continents. Our consolidated revenues surpassed AED 59.2 billion, growing by 10.1 per cent year-over-year, while consolidated EBITDA rose 2.7 per cent in constant currency to AED 26.5 billion. Our financial performance reflects the trust we’ve built, the bold investments we’ve made, and the transformative added value we continue to create.

A landmark achievement was e&’s expansion into Central and Eastern Europe with the majority acquisition of PPF Telecom’s assets, adding over 10 million new subscribers across Bulgaria, Hungary, Serbia, and Slovakia. This move strengthens our global presence, unlocks scalable digital solutions, and fosters digital inclusion. Additionally, our acquisition of GlassHouse expanded our cloud, data, and SAP capabilities across Türkiye, South Africa, and Qatar, strengthening our leadership in enterprise digital transformation. These strategic moves are at the core of our long-term aspirations—to build a robust, future-ready digital ecosystem that enables businesses to scale, governments to innovate, and communities to thrive.

As we closed 2024, we set out to ‘Go for More’- expanding our digital footprint, pioneering AI-driven innovations, and delivering impactful solutions. With a brand portfolio and investments exceeding US$ 20 billion, e& is the World’s Fastest Growing Brand, a recognition of our relentless pursuit of innovation and progress.

Looking ahead, we are poised for even greater growth and transformation. Our ambition is unstoppable: to lead the digital transformation that creates a lasting positive impact, foster collaboration, and empower societies. We will continue to push the boundaries of AI, scaling intelligent platforms, and ensuring that technology is a force for good, and that every innovation we deliver is a catalyst for progress.”

Contact:  
Nancy Sudheer
Senior Manager at e&
nsudheer@eand.com

Photo – https://mma.prnewswire.com/media/2627613/e_and_1.jpg
Photo – https://mma.prnewswire.com/media/2627612/e_and_2.jpg
Infographic – https://mma.prnewswire.com/media/2627615/e_and_Infographic.jpg
Logo – https://mma.prnewswire.com/media/2458295/5185029/e_and_Logo.jpg

 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/e-delivers-record-revenue-and-net-profit-in-fy-2024-growing-consolidated-revenue-10-1-to-aed-59-2-billion-302385088.html

SOURCE e&

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

FULTON FINANCIAL CORPORATION APPOINTS DAVID S. SCHULZ TO BOARD OF DIRECTORS

Published

42 minutes ago

on

July 21, 2026

By

LANCASTER, Pa., July 21, 2026 /PRNewswire/ — Fulton Financial Corporation (NASDAQ: FULT) (“Fulton”) today announced the appointment of David S. Schulz as a member of its board of directors (the “Board”) for a term commencing September 14, 2026 and expiring at Fulton’s 2027 annual meeting of shareholders.

“We’re excited to welcome Dave to Fulton’s board of directors,” said Curt Myers, Fulton Chairman, CEO, and President. “Dave brings extensive financial leadership experience gained through more than a decade of service with publicly traded companies. His expertise in finance, strategic planning, risk, and mergers and acquisitions will provide valuable perspective as we continue to execute our growth strategy and create long-term value for our shareholders, customers and communities.”

With the addition of Schulz, Fulton’s Board will have 11 members, and he will serve on the Audit and Risk committees. Schulz has also been appointed to the board of directors of Fulton’s banking subsidiary, Fulton Bank, N.A.

Schulz served as Senior Vice President and Chief Financial Officer of Wesco International, Inc. (“Wesco”) from 2016 to June 2020, Executive Vice President and Chief Financial Officer of Wesco from June 2020 to February 2026 and as Executive Vice President and Special Advisor to the CEO of Wesco from February 2026 until his retirement on May 31, 2026. 

Prior to joining Wesco, Schulz served as Senior Vice President and Chief Operating Officer of Armstrong Flooring, Inc. and was previously Senior Vice President and Chief Financial Officer of Armstrong World Industries, Inc. and Vice President of Finance of the Armstrong Building Products division.

Before joining Armstrong World Industries in 2011, he held various financial leadership roles with Procter & Gamble and The J.M. Smucker Company. He was also an officer in the United States Marine Corps.

In 2025, Schulz joined the board of Sterling Infrastructure, Inc., and he was appointed as chair of the audit committee in 2026. He also serves on the company’s compensation and talent development committee.

ABOUT FULTON FINANCIAL CORPORATION

Fulton, a $34 billion Lancaster, Pa.-based financial holding company, has more than 3,400 employees and operates more than 215 financial centers in Pennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank, N.A. Additional information on Fulton can be found at https://investor.fultonbank.com.

Contact: Steve Trapnell
717-291-2739

View original content to download multimedia:https://www.prnewswire.com/news-releases/fulton-financial-corporation-appoints-david-s-schulz-to-board-of-directors-302831288.html

SOURCE Fulton Financial Corporation

Continue Reading

Technology

Octavio Marquez Elected to MSA Safety Board of Directors

Published

42 minutes ago

on

July 21, 2026

By

PITTSBURGH, July 21, 2026 /PRNewswire/ — The Board of Directors of MSA Safety Inc. (NYSE: MSA), a global leader in the development of advanced industrial safety technology products and solutions, today announced that Octavio Marquez, president and chief executive officer of Diebold Nixdorf, has been elected to the company’s Board of Directors. His election was part of the MSA Board’s regular succession plans.

“We are very pleased to have the opportunity to add Octavio to the MSA Board,” said Robert A. Bruggeworth, MSA chairman. “He brings a broad range of executive leadership experience, including strategy development, capital allocation, business transformation and serving international markets, which will serve MSA well.”

“Octavio’s perspectives will be an asset to me and our entire Executive Leadership Team,” said Steven C. Blanco, MSA president and CEO. “It is a pleasure to welcome Octavio to MSA, and I look forward to working with him.”

Mr. Marquez joined Diebold Nixdorf in 2014 and has held senior leadership roles across the company’s Global Banking organization and its Americas region, including as executive vice president of Global Banking and senior vice president of the Americas. Before joining Diebold Nixdorf, Mr. Marquez held leadership positions at Dell EMC, Hewlett Packard Enterprise, IBM and NCR.

Diebold Nixdorf automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world’s top 100 financial institutions and top 25 global retailers, its integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of customers every day. Headquartered in North Canton, Ohio, Diebold Nixdorf employs approximately 20,000 employees globally, supporting more than 100 countries.

Mr. Marquez holds a degree in business and finance from Universidad Iberoamericana and has completed executive education programs at MIT Sloan, The Wharton School and The University of Texas at Austin.

About MSA Safety

MSA Safety Incorporated (NYSE: MSA) is the global leader in advanced industrial safety technology products and solutions. Driven by its singular mission of safety, the company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders. With 2025 revenues of $1.9 billion, MSA Safety is headquartered in Cranberry Township, Pennsylvania, and employs a team of approximately 5,300 associates across its more than 40 international locations. For more information, please visit www.MSASafety.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/octavio-marquez-elected-to-msa-safety-board-of-directors-302831265.html

SOURCE MSA Safety

Continue Reading

Technology

BlueFolder Field Service Software Launches New AI-Powered Features to Transform How Teams Work

Published

42 minutes ago

on

July 21, 2026

By

New AI capabilities instantly surface customer insights and transform technician notes into actionable summaries to help field service teams work faster, stay aligned, and deliver better service

AUBURN, Ala., July 21, 2026 /PRNewswire/ — BlueFolder field service software recently announced the launch of two powerful new AI features: AI-Powered Customer Summaries and AI-Powered Field Notes Summarization. Together, these capabilities are designed to eliminate the time-consuming, manual work of reviewing fragmented customer records and lengthy technician notes—giving field service teams instant clarity to respond faster, make smarter decisions, and deliver exceptional service.

BlueFolder expands it’s field service and work order management suite with two exciting new AI field service features.

Built directly into the BlueFolder platform, both features leverage artificial intelligence to automatically compile and summarize complex, unstructured data into clear, easy-to-read overviews. The result: technicians, dispatchers, and managers always have the context they need, right when they need it.

AI-Powered Customer Summaries

As field service organizations grow, customer information becomes increasingly scattered across emails, service request logs, and communication histories. BlueFolder’s AI Customer Summary feature addresses this challenge head-on by consolidating those interactions into a single, actionable snapshot.

Instead of manually digging through multiple records before a service call or customer interaction, teams can now access a real-time summary highlighting key concerns, past service activity, and recent updates. The feature goes beyond basic summarization and surfaces critical business insights such as equipment past due for maintenance, approaching warranty expirations, and proactive revenue opportunities, empowering teams to recommend follow-ups or upgrades directly from the customer record.

Built-in traceability links each summary back to its original source communications, so users can validate insights with confidence, ensuring both speed and accuracy in every customer interaction.

AI-Powered Field Notes Summarization

In many service organizations, technicians log updates across multiple visits, often resulting in long, fragmented notes that are difficult to review at a glance. BlueFolder’s AI Field Notes Summarization feature solves this by automatically condensing multiple technician entries into a structured summary that highlights key milestones, actions taken, and next steps.

Rather than scrolling through pages of updates, managers and dispatchers can immediately understand job status and determine what needs to happen next, improving alignment between field and office teams, accelerating decision-making, and reducing miscommunication. The feature is especially valuable for complex or multi-day jobs, where clear continuity and smooth technician handoffs are critical to delivering consistent service. It’s another featuring making BlueFolder’s work order management software capabilities stronger every day.

“History is one of the most powerful tools a service team has — the problem is it’s usually buried. BlueFolder’s new AI features fix that. Your team walks into every interaction already knowing the customer, knowing the equipment, and exactly where things stand. That changes the entire experience,” says John Shaw, VP, Technology, Service Operations.

AI as a Core Part of the BlueFolder Platform

The launch of these two features reflects BlueFolder’s broader commitment to embedding AI throughout its field service management software as an integrated layer of intelligence that makes every workflow smarter. Rather than requiring teams to change how they work, BlueFolder’s AI capabilities are designed to surface the right information at the right moment automatically, within the tools that technicians, dispatchers, and managers already use every day.

“AI is transforming what’s possible in field service, and BlueFolder is answering that call. These features are the result of deep platform expertise and a clear vision for where the industry is headed. We’re embedding intelligence throughout the platform because we know it makes our customers more competitive, more efficient, and better positioned to grow,” says Stephen Myslicki, Group President of Field Services.

Availability

Both AI-Powered Customer Summaries and AI-Powered Field Notes Summarization are available now to BlueFolder customers as optional, easy-to-enable features within the platform. They are part of BlueFolder’s growing suite of AI-driven capabilities designed to help field service organizations operate more efficiently and scale with confidence.

View original content to download multimedia:https://www.prnewswire.com/news-releases/bluefolder-field-service-software-launches-new-ai-powered-features-to-transform-how-teams-work-302831320.html

SOURCE BlueFolder

Continue Reading

Trending