The telecommunications landscape in the UAE continues to show resilience, with Emirates Integrated Telecommunications Company, known as “du”, announcing a significant jump in its net profits for the first nine months of 2026. The company reported a net profit of 2.418 billion dirhams, marking a 10.8% increase compared to 2.181 billion dirhams in the same period of 2025. This positive performance underscores du’s strong footing in a stabilising business environment.
Revenues Grow to 12.3 Billion Dirhams
During the first three quarters of 2026, du experienced a 6.2% rise in revenues, bringing the total to 12.343 billion dirhams. Service revenues soared by 6.8%, reaching 9.049 billion dirhams. The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by 9.2% to 6.007 billion dirhams, with an impressive profit margin of 48.7%.
Positive Stock Performance
In terms of stock performance, du saw its share price increase by 23.9% during the first nine months of 2026, climbing from 9.8 dirhams at the end of December 2025 to 12.14 dirhams by September 2026. However, CNN Economics observed fluctuations in the stock’s trajectory throughout this period, noting a dip in March followed by a recovery through July, and another decline in August before regaining momentum in September.
Stock Peaks in July
Commencing 2026 at 10.3 dirhams in January, the stock rose to 10.96 dirhams in February. Despite a retreat to 10 dirhams in March, an upward trend resumed in April, marked by prices climbing to 12.16 dirhams in July, which represented the highest monthly level recorded within this timeframe.
August Decline Followed by September Recovery
The peak price of 12.16 dirhams in July was followed by a decrease to 11.36 dirhams in August, a drop of 6.6%. Nevertheless, September showed resilience with a rebound to 12.14 dirhams, an increase of 6.9% from August’s close, closely approaching the July peak.
Third Quarter Revenue Increases by 7.1%
For the third quarter of 2026, du recorded a 7.1% annual growth in revenues, amounting to 4.145 billion dirhams, driven by various sectors including fixed-line services and information and communication technology. Revenue from services rose by 5.1% to reach 3.020 billion dirhams, while other revenues jumped 12.6% to 1.125 billion dirhams, bolstered by strong demand for wholesale services and the launch of the iPhone 18.
Subscriber Base Expansion
Du continued to grow its subscriber base in the third quarter of 2026. The number of mobile service subscribers increased by 3.3% year-on-year, reaching 9.5 million. Notably, subscribers to postpaid services rose by 6.4% to 2 million, driven by the brand’s attractiveness to premium customers and the business sector, alongside the introduction of the iPhone 18. Prepaid service subscriptions also grew, reaching 7.4 million, a 2.5% rise, aided by appealing packages like “Easy” and “Hello”. The fixed-line subscriber base increased by 5.2% to 756,000, reflecting steady demand for cost-effective internet solutions.
Improvements in Mobile and Fixed-Line Revenue
Mobile service revenues grew by 3.9% year-on-year in the third quarter, reaching 1.8 billion dirhams, thanks to diversified revenue streams and increased average revenue per user. Fixed-line service revenues surged by 7.1% to 1.2 billion dirhams, fuelled by heightened demand for internet services and tailored solutions for businesses.
Capital Expenditures Rise to 647 Million Dirhams
Du’s capital expenditures amounted to 647 million dirhams in the third quarter of 2026, compared to 492 million dirhams during the same period last year. The capital expenditure intensity rose to 15.6% from 12.7%, indicative of increased investment in digital infrastructure, particularly data centres and network enhancements.
Renewal of Public Telecommunications License for 20 Years
Significant developments in the regulatory landscape occurred, with du’s public telecommunications license renewed for 20 years. Additionally, the franchise fee system was extended for three more years, enhancing the long-term regulatory framework and operational continuity. Du was also included in the MSCI UAE and FTSE All-World indexes after meeting relevant listing requirements.