With revenues growing 7.9% year over year to Dhs3.9 billion in the third quarter, the company maintained strong momentum and demonstrated outstanding commercial performance across key categories.
In the third quarter, the company’s outstanding EBITDA margin of 47.8% and substantial profit growth of Dhs732 million were the results of its focused execution. Its capital market profile will be further enhanced by the successful completion of a secondary public offering of 7.55% of share capital during the quarter.
The company’s capacity to maintain topline growth and solidify its market leadership is demonstrated by its strong commercial momentum across both B2C and B2B segments, as well as by a robust pipeline of collaborations, including recent agreements announced at GITEX.
The successful completion of the secondary public offering of 75% of the shares Mubadala had previously owned in the company’s capital increased the company’s free float to 27.7%, improved liquidity, diversified the investor base, and opened the door to the company’s inclusion in indices.
Strong commercial positioning and positive market trends led to a 10.3% increase in the mobile base and a 9.7% increase in the fixed base. Our third-quarter performance further solidifies the solid trajectory set in the first half of the year,” said CEO Fahad Al Hassawi.
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