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00:00 The UAE E&D Group records the highest level of participants
00:06 in terms of their history and profits.
00:09 The company also jumps by about 20% in the third quarter.
00:13 Let's take a look at the financial performance and operating performance
00:16 in terms of the E&D Group.
00:18 The results related to the second quarter rose by about 20%
00:23 to about 3 billion dirhams.
00:25 The profit of the nine months rose by about 5% to 7.7 billion dirhams.
00:31 Let's look at the revenues.
00:33 The revenues rose by about 2% in the nine months to 40 billion dirhams.
00:37 The third quarter also rose by 13.4 billion dirhams.
00:42 The revenues in general were affected by what we saw from the revenues in Egypt
00:47 in particular in view of the decrease in the value of the Egyptian pounds
00:51 of the company by about 38% in the time of the budget.
00:56 This naturally affected the return of the Egyptian pounds
01:01 and the work in Egypt despite the high number of participants in Egypt.
01:06 The company's debt has risen to 46.9 billion dirhams
01:11 of which 48 billion were recorded at the end of December last year.
01:17 This indicates that the loans have decreased significantly
01:21 and that these debts also represent 76% of the long-term debts
01:27 that will be paid off in September 2024
01:31 and most of these debts are in the UAE dirhams.
01:34 Let's look at the number of participants that recorded a new level of accuracy.
01:39 For the E&D Group, there are 167 million participants.
01:45 The largest number in Morocco is 75 million participants.
01:50 In Egypt, there are about 33 million participants.
01:53 In Pakistan, there are about 28 million participants.
01:57 In the UAE, there are 14 million participants.
02:00 In general, we see that there are more participants than the company.
02:05 What caught my attention about the E&D Group
02:09 is its desire to transform from a phone company
02:13 into a global technology group
02:16 through taking measures related to acquisition of companies
02:20 in the technology sectors.
02:23 We have seen in the third quarter, the acquisition of a majority share
02:27 in PPF Telecom, which has many businesses in Eastern Europe,
02:32 of 2.15 billion euros.
02:36 Also, the acquisition of a majority share in Beehive of about 24 million dollars.
02:42 There is a general direction of the Gulf to acquire and seize opportunities
02:46 in Europe during the past period,
02:49 given what we see in its desire to expand and expand operations outside the region.
02:54 So, E&D, with 9 months of profit, was positive.
02:58 Also, the number of participants was the largest in the company's history.