Page 27 - SAMENA Trends - July-August 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

26.3 billion, while consolidated net profit was AED 4.9 billion, a for the remainder of 2022. We have embraced digitization, with
year-over-year increase of 2.5 percent. At constant exchange rates, a continuous innovation ethos to charter our course into a more
revenue increased by 3.8 percent. Consolidated EBITDA remained holistic digital transformation for our communities and societies.
steady in reporting currency at AED 13.4 billion, while increased by I would like to thank the UAE’s wise leadership for their inspiring
4.1 percent in constant currency, resulting in an EBITDA margin of vision and continuous support to the ICT sector. I am also grateful
51 percent. The number of etisalat by e& subscribers in the UAE to our e& management team for constantly capitalizing on our
reached 13.3 million in H1 2022, representing an increase of 10 deep digital expertise to act as enablers of digital transformation
percent over the same period last year, while aggregate group for governments, corporates, and consumers, providing complete
subscribers reached 160 million, a 2.5 percent increase. Since e&’s end-to-end solutions. We remain thankful to our loyal consumers
evolution into a global technology and investment conglomerate and shareholders for joining us in our journey of transformation
earlier this year, the company has continued its journey with steady and collaborating with us to set new industry benchmarks and
progress in creating innovative solutions using next-generation reach new heights.” Hatem Dowidar, Group CEO of e&, said: "e&’s
technologies and pursuing strong local, regional and international financial results for the first half of this year are an outcome of our
mutually beneficial partnerships that create value and benefit our earnest endeavors to drive growth and enhance efficiencies, with
customers, enterprises and communities. Commenting on the a strong commitment to key strategic priorities to enable a better
H1 2022 results, H.E. Jassem Mohamed Obaid Bu Ataba Alzaabi, digital future and drive innovation. e& achieved good performance
Chairman of e&, said: “e&’s performance during the first half of despite global economic challenges characterized by soaring
the year demonstrates our unwavering commitment, continued inflation, hike in interest rates and foreign currency devaluation.
efforts and relentless focus on realizing our vision of driving the We will remain resilient and see these times as opportunities to
digital future to empower societies. Our success is underpinned deepen our focus and invest in the long term. As we navigate
by our drive to make a positive change in the societies we serve through the new global economic landscape, we will focus on our
while adding value to our shareholders. Our financial performance goal to create and deploy innovative solutions to positively impact
reinforces e&’s success story and its strong standing, tackling the people’s lives.
challenges and rising to every opportunity to execute our ambitious
plans we embarked on earlier this year and set the momentum

etisalat by e& Completes First 6GHz Trial in MENA

Etisalat UAE, branded as etisalat by e&, has successfully
completed its first trial of the 6GHz spectrum, which marks a
significant step for the future of 5G. The trial conducted with
Huawei Technologies was integral in today’s technology evolution
as full speed and capabilities of 5G depend on mid-band spectrum
that secures performance in the long term, according to the
telco. The 6GHz range is a mid-band frequency and sits at a
balancing point between coverage and capacity, providing the
perfect environment for 5G connectivity. Extending the bandwidth
of 5G through the harmonization of 6GHz spectrum will provide
more bandwidth and improve network performance. On top of
this, the broad, contiguous channels offered by the 6GHz range
will reduce the need for network densification and make next-
generation connectivity more affordable for all. Khalid Murshed,
Chief Technology and Information Officer (CTIO), Etisalat UAE
highlighted that 5G allows the industry to support national digital
transformation goals by providing reliable, high capacity, low
latency, and wide-area connectivity to consumers and industries. that maximize engagement by building new capabilities across
“The metaverse is opening untapped opportunities with hyper- AI and digital to thrive in an increasingly competitive and ever-
personalized experiences powered by AI. Telcos will be the entry changing market environment.” The focus on 6GHz is also in
point to the metaverse because of connectivity but also because line with etisalat by e&’s future roadmap as part of the e& group
the customer wants access to a digital world. The future is transformation drive to become a global technology conglomerate.
powered by AI and analytics, with metaverse playing a role yet to be 5G is being viewed as an enabler of the future digital society and
defined. This kind of technology disruption will create challenges the foundation for the digital economy. According to GSMA’s latest
but simultaneously bring massive prospects to this dynamic report, 5G will bring an economic contribution of $700 billion
industry,” he said. Murshed further noted that the trial for 6GHz was to society in 2030. At the end of March 2022, 5G services have
influenced by these future market requirements as they foresee a been launched in more than 70 countries, with more than 220 5G
significant growth accelerated by these applications. “As a digital networks being deployed, and more than 700 million 5G users.
telco, we focus on our core while curating digital experiences

27 JULY-AUGUST 2022