ABU DHABI, April 11 / WAM / &e today announced its Annual General Assembly meeting, where legislators approved the board of directors’ recommendation to distribute cash dividends to shareholders in the second half of 2022. At 0.4 dirhams per share, it brought the total annual dividend to 0.8 dirhams per share, reflecting the group’s commitment to adding value to shareholders.
The meeting gave stakeholders an opportunity to review the Group’s performance over the past year, discuss key decisions and assess &e’s efforts to maintain its exceptional flexibility in the face of challenges and unprecedented changes in the global economy. Ensuring the success of the transformation process launched in 2022 to achieve the world’s leading technology and investment group.
The Board of Directors appreciated &e’s record growth in 2022, which reflects the ambitious vision of the Group’s leadership in creating an integrated organization that is flexible, adaptable and at the forefront by delivering innovative and integrated digital and technology. services and solutions to clients that enhance its position as a leading technology group.
&e Chairman of the Board of Directors, His Excellency Jassim Muhammad Budaba Al Zaabi, thanked the members of the Board of Directors for their support, emphasizing the commitment of the Board – as it moves from one success to another – to contribute to creating a digital future that works to improve and support communities and improve their well-being by providing excellent customer service and adding value to stakeholders. helps.
His Excellency Jassim Al Zaabi reviewed the series of achievements that enabled &e to begin a new chapter in its growth and development process. In addition to significant contributions from new business lines and significant acquisitions, the past year witnessed the Group’s continued performance improvement and growth of its core business portfolio.
His Excellency added: “The strong financial results achieved by &e in 2022, with a consolidated revenue of 52.4 billion dirhams and a net profit of 10 billion dirhams, are strong evidence of the success of its strategy to transform into technology and technology. An investment group that wants to play a strong and important role in building next-generation communication networks and making a real mark in developing advanced technology solutions, these results and outstanding performance reflect the group’s strong financial position and its firm commitment. To improve customer service and achieve stakeholder interests.”
The Chairman of the Board added: “By becoming a leading global group in the technology and investment sector, &e aims to enhance its capabilities to lead the technology scene, driven by its continuous effort to anticipate rapid market changes and develop solutions and strategies. It reflects its ability to adapt and grow to meet these changes and provide innovative services to customers.
During the meeting, &e’s CEO, Hadem Tovidar, explained that the company continues to focus on improving the business portfolio, providing added value to customers and shareholders and driving growth through carefully considered expansion activities through the group’s core businesses, mergers and acquisitions. For great achievements in 2022.
He added, “&e achieved 7.4% growth in consolidated net profit, reaching 10 billion dirhams, and consolidated group revenue increased to 52.4 billion dirhams in fiscal 2022, an annual growth of 4.7% at constant exchange. Rates, supported by the successful transformation undertaken by the group, expanded into new business pillars and ensured diversification of revenue sources, consolidated earnings before interest, tax, depreciation and amortization increased to 26.2 billion dirhams for 2022. 3.7%, at constant exchange rates, leading to a profit margin before interest, tax, depreciation and amortization of 50%, reflecting the strong profitability of the Group’s operations.
Dowidar added: “&e has a clear vision and strategy based on skills and experience that qualifies it to be a partner in shaping aspects of the global digital future, achieved through research, development and innovation. , and benefit from the latest technologies, especially 5G technologies. And &e’s mergers and acquisitions are an important part of its strategy to sustain growth, increase revenue and advance its position as a technology group and global investment.
As part of its strategy to become a world-leading technology company, &e enhances customer experiences across all sectors, and its specialized business pillars create an agile model that enables it to accelerate growth and capitalize on opportunities by shaping the rapidly changing digital landscape. Delivering a range of innovative and cutting-edge technologies driven by a track record of achievement, &e aims to provide unique digital solutions that meet the evolving needs of customers across the various markets in which it operates.