https://adgully.me/post/3937/relife-announces-expansion-to-ksa-egypt-jordan-and-turkey

Re.life announces expansion to KSA, Egypt, Jordan and Turkey

re.life, one the UAE’s fastest growing digital ecosystems, announced its expansion across the MENA region with offices in the Kingdom of Saudi Arabia, Egypt, Jordan and Turkey during GITEX Global 2023. Driven by the success of its two platforms – re.life collect and re.life market – re.life had already expanded its operations across the UAE with offices in Sharjah and Abu Dhabi, in addition to a dedicated sales and technology office in India. By bringing both its platforms to new countries in the region, re.life is now enhancing access to its entire ecosystem beyond the UAE, from trading recyclables through re.life market to logistics and movement of goods through re.life collect.re.life’s geographical expansion comes with its exponential growth in 2023, surpassing its performance indicators from 2022. Last year, re.life market - re.life’s online recyclables trading platform - recorded transactions worth over AED 100 million and over 100,000 tonnes of material bought and sold. re.life has surpassed last year’s performance within the first six months of 2023, recording transactions worth over AED 150 million and over 130,000 tonnes of material traded, further driving the circular economy. Similarly, re.life collect, which “uberises” moving and logistics, recorded a 150% increase in trips and a 15% increase in number of users in the first half of 2023, as more people and businesses leverage the platform’s access to simple, convenient and affordable logistics services.Commenting on the venture’s expansion, Salim Al Owais, Chief Executive Officer at re.life, said: “We are fortunate to have demonstrated success in serving customers from the UAE as well as across borders, contributing to local economies, driving circularity and accelerating logistics services. re.life has now established new offices in Abu Dhabi and Dammam, KSA. We are also planning our offices in Jeddah in KSA, and Egypt, Turkey and Jordan. Through this strategically planned network of offices, we are looking to add further value to the local and regional economies, while setting up mutually beneficial business relationships.”In the UAE, re.life has offices in Sharjah, its headquarters, as well as in Abu Dhabi, supporting objectives to enhance employment and the local economy within the emirate. In Dammam, KSA, re.life has already established a base of customers leveraging the re.life collect platform for shipments from the UAE. With a new office in Dammam, re.life seeks to further strengthen the logistics corridor to the UAE with cost-effective services via re.life collect.re.life collect offers several moving and logistics services that can be conveniently booked from the app, including home moving, B2B logistics, renting a truck or fleet, and its most popular service, cross border shipments.As a manufacturing hub, Dammam is also an ideal location to introduce re.life market, with factories having the opportunity to unlock new revenue streams by trading scraps and other recyclables across several categories. Similarly, recyclables traders can use the platform to trade better, faster and more cost-effectively.re.life market offers a variety of bidding options, including time-limited bidding, bid-free transactions, partial bidding, spot sales, and spot buys. The platform enables trade across a variety of recyclables categories, including paper, e-waste, wood, glass, plastic, ferrous metals, non-ferrous metals, aggregates, recyclable road base and rubber. re.life market sees over 400 bids a month with over 650 enterprises registered on the platform.Similar to Dammam, re.life sees huge potential to make positive impact in Jeddah, KSA, as well as in Egypt, Jordan and Turkey, which are centres for manufacturing, shipping and business in the region.Through re.life market, businesses can unlock value from their waste through recyclables trading. With re.life collect, businesses can accelerate logistics needs with cost-effective options as well as send and receive shipments from the UAE with enhanced ease. During GITEX Global, re.life also announced the addition of a new service on re.life collect to rent earthmoving equipment, offering businesses and project managers the opportunity to complete construction work without high upfront investment and long-term maintenance costs of a specialised fleet.“Digitalisation is the need of the hour – it is demanded by customers and becoming a necessity for business functions and processes,” added Salim Al Owais. “With this expansion, re.life is offering businesses in more countries the opportunity to digitalise aspects of their business quickly and cost-effectively, without the need to invest in building their own platforms from the ground up. Through our new offices, we look forward to furthering the impact of re.life market and re.life collect while adding value to new economies.”Since its launch, re.life has won multiple awards for the transformative impact of its platforms. Some of its awards include the “B2B platform of the Year” at the 2023 E-Business Awards by Entrepreneur Middle East, “Specialist Trading Solution of the Year” at the 2022 and 2023 Innovation and Excellence Awards by Corporate Livewire, and “Technology Innovation of the Year” at the 2022 Middle East Waste and Recycling Awards.
https://adgully.me/post/1976/tecom-group-s-q1-2023-net-profit-grows-34-to-aed-255-million

TECOM Group ’s q1 2023 net profit grows 34% to AED 255 million

 Dubai: TECOM Group PJSC (DFM: TECOM), (the “Company” or the “Group”), the creator of specialised business districts and vibrant communities, today announced its financial results for its fiscal 2023 first quarter ended 31 March 2023. The Group delivered a strong financial and operational performance, reporting a 6% year-on-year (YoY) increase in revenues to AED 514 million and a 34% YoY increase in net income to AED 255 million.Financial HighlightsAED ‘000sFirst QuarterYoY%(Unless otherwise stated)20232022Revenue513,784485,1116%EBITDA398,805349,43514%EBITDA Margin78%72%6%Net Profit255,133190,26234% Operational HighlightsCommercial and Industrial – As of31 March 202331 March 2022YoY%Occupancy Level87.1%80.6%6.5%Retention Rate95.4%94.6%0.8% Abdulla Belhoul, Chief Executive Officer, TECOM Group, said: “TECOM Group’s solid first quarter results, are not just a testament to the success of our long-term growth strategy, but also a reflection of the underlying business confidence in Dubai and the thriving business ecosystem in the emirate.The sustained growth in our occupancy demonstrates the continued demand for our specialised assets and reaffirms Dubai’s position as a global hub for investment, innovation, and entrepreneurship. We believe we are well positioned to continue to capitalise on the booming real estate market in Dubai.Looking ahead, our outlook for the rest of the year is positive, particularly with the prospect of higher rental rates, continued growth in occupancy and the immense potential that the city offers to businesses of all sizes and from all sectors. We will maintain our focus on maximising value to our shareholders and all our stakeholders.” Q1 2023:- Revenue for the first quarter of 2023 came in at AED 514 million, an increase of 6% YoY that is driven by a significant increase in our commercial and industrial occupancy rates compared to the same period last year.- EBITDA increased 14% to AED 399 million, primarily driven by top line growth and lower operational expenses.- Net profit grew 34% YoY to AED 255 million, underpinned by strong growth in revenues, enhanced operational efficiencies and sustained growth across all business segments.- Funds from operations (FFO) reached AED 359 million, a 44% increase on Q1 2022, due to strong collections and continued high levels of customer retention. Key Operational ActivitiesThrough its provision of business districts, TECOM Group continues to support many industries that drive Dubai’s diversification agenda and economic growth. In Q1 2023, TECOM Group witnessed:- The announcement by AstraZeneca on its intention to move to Dubai Science Park with new sustainable offices ahead of COP28.- The successful launch and first edition of Dubai Fashion Week (DFW), which recorded a 55% increase in RSVP’s compared to the 21st edition of Arab Fashion Week in March 2022. M Normandie French Business School inauguration of its first regional campus at Dubai Knowledge Park- The opening of THRYVE™ factory, the first 100% plant-based meat factory in the Middle East, in Dubai Industrial City.- Silver Line Gate Group (one of the Middle East’s leading suppliers of milk powder) announcement to build an AED 200 million manufacturing facility at Dubai Industrial City in line with Dubai Economic Agenda D33, the UAE food security agenda and Make it in the Emirates.- Al Khayyat Investments breaking ground on its largest fulfilment centre to date in Dubai Industrial City.DividendTECOM Group shareholders approved a dividend payment of AED 200 million, that was paid in April 2023. This follows a AED 200 million pay-out which was distributed in November 2022, taking the total dividend payment for the second half of 2022 (H2) to AED 400 million. As per the dividend policy set out in the IPO prospectus, TECOM Group is committed to paying a total dividend amount of AED 800 million per annum over the first three years of being a listed company. The next dividend payment will be distributed in September 2023, subject to shareholder approval, and will cover the first half of 2023.  
https://adgully.me/post/1965/e-reports-consolidated-revenue-of-aed-130bln-in-q1-2023

e& reports consolidated revenue of AED 13.0bln in Q1 2023

Dubai: e&’s consolidated revenues reached AED 13.0 billion. At constant exchange rates, revenue increased by 6.6 per cent. Consolidated net profit recorded AED 2.2 billion while consolidated EBITDA reached AED 6.2 billion, resulting in an EBITDA margin of 48 per cent.In the UAE etisalat by e& recorded 13.9 million subscribers an increase of 6 per cent compared to the same period of last year, The Group’s aggregate subscribers reached 164 million, a YoY increase of 3 per cent.The Group's focus on expanding its digital offering and launching innovative new solutions and partnerships with leading technology companies around the world as part of its drive to become a global technology player has driven business growth.Through a series of prudent mergers and acquisitions, e& is strengthening its position focused on delivering innovative solutions and driving digital transformation.The financial performance in Q1 2023 further strengthened e &'s global position as the most valuable telecoms brand portfolio in the Middle East and Africa, according to 2023 Brand Finance, while the Group's largest telecoms brand, etisalat by e&, continued to deliver outstanding innovative services as one of the three top telecoms brands in the world, and retained its position as the strongest telecom brand across all categories in the MEA region.Hatem Dowidar, Group CEO, e&, said: "The Group’s performance in the first quarter indicates growth in the number of subscribers, revenues, and profits in local currencies, but was impacted by the strong fluctuations in the currency exchange rate within the Egyptian and Pakistani markets. This growth can be attributed to the Group's flexibility and efforts to provide innovative business solutions and the latest technologies to the communities we serve. Furthermore, the Group has succeeded in building unique digital experiences supported by strategic investments, to enhance our business portfolio.“etisalat by e& Egypt and PTCL in Pakistan successfully achieved their strategic goals by enhancing their customers' digital experience while achieving growth based on local currency revenues, the strong fluctuations in the exchange rates of the Egyptian pound and the Pakistani rupee, coupled with the unprecedentedly high inflation rates in the two markets, have negatively impacted revenues and profits reported in AED. As a result, these effects were evident in the Group's consolidated results."With a vision to create a more progressive business model, we have continued to explore new avenues, expand our offerings and forge new partnerships. Our recent investment in Careem's Super App is another strategic step in our transformation into a global technology group by bringing more digital services into our customers’ daily lives.“We will continue to explore future technologies and develop new verticals that will accelerate digital transformation, positively impacting businesses and people’s lives while maximising value creation for our shareholders."Key operational highlights and developments for Q1 2023e&The Group recently signed a binding agreement with Uber Technologies, Inc ("Uber") and its subsidiary Careem to acquire a majority stake in Careem's Super App spinout with an investment of $400 million, as part of e&'s strategic ambition to expand its digital consumer offering and accelerate its transformation into a global technology and investment group.e& has successfully completed the acquisition of ServiceMarket, expanding the range of digital services on the Smiles online marketplace and offering more everyday services to its customers. It has further strengthened its global positioning this year, being recognised as the most valuable telecoms brand portfolio in the MEA region, worth over $14 billion, according to the 2023 Brand Finance Global 500 Report.e& has taken further steps in the use of cutting-edge technologies by partnering with E-Space to develop satellite-based cloud-native digital and IoT solutions optimised with edge AI to maximise the value of borderless smart connectivity and digital solutions across land, sea, and air applications.The Group has also partnered with Intel to focus on the deployment of edge data centres with a focus on a net zero carbon footprint, incorporating the latest 4th generation Intel Xeon Scalable processors.In addition, e& also announced its intention to integrate Microsoft Azure OpenAI GPT into its internal operations and processes, as well as a potential service to improve the customer experience and support the media industry in its daily tasks. etisalat by e&The telecoms arm of e& maintained its position as the strongest telecoms brand in any category in the MEA region this year, achieving a score of 89.1 out of 100 and an AAA rating. It was also ranked in the top three telecoms brands globally according to the 2023 Brand Finance Global 500 report.Embracing digital experiences and cutting-edge solutions, etisalat by e& teamed up with Samsung to extend the existing partnership beyond smart devices and collaborated with Huawei to successfully deploy and test the 5G Portable Private Network MEC (Multi-access Edge Computing) functionality.etisalat by e& also announced the implementation of the first 5G SatComs in the region with the EUTELSAT QUANTUM satellite solution to extend 5G network capabilities on a software-defined satellite and to meet future applications that require higher throughput.To provide the best innovative solutions, etisalat by e& opened a new Mobile Security Operation Centre (MSOC) in collaboration with the UAE Cybersecurity Council to provide business customers with real-time protection services to safeguard mobile phones from malicious attacks. etisalat by e& also deployed the private Microsoft Azure Multi-access Edge Compute (MEC) solution for enterprises as one of the first operators in the MENA region.e& internationale& international continued to drive its portfolio of telecom and digital assets while focusing on higher resilience in a challenging macro-economic environment. This included an acute focus on adapting existing business parameters to new realities, as well as, focusing on diversification of the product portfolio in order to generate new digital revenue streams, and maintaining leadership in customer experience.e& international OpCos continued to relentlessly improve their customer experience and most achieved number one position in their markets in the quarter. It also launched the ‘e& partner networks’ to support the growth of global telecom operators, offering access to market best practices, cutting-edge services, and the benefits of e&'s scale to telecom operators around the world.Tunisie Telecom became the first company to join the ‘e& partner network’ programme, supporting the future growth of the Tunisian national operator.etisalat by e& in Egypt partnered with the Sovereign Fund of Egypt (TSFE) to launch a new fintech company, ‘Erada Microfinance’ with the aim of enabling a wide range of financial services for micro and small enterprises. In line with e&’s aim to enable a greener future, it deployed a Smart Connected Site solution, which will allow e&’s subsidiary in Egypt to reduce fuel costs and CO2 emissions by up to 40 per cent as well as decrease reliance on fossil fuels.PTCL and Vodafone have initiated a strategic collaboration to develop and deliver a full suite of end-to-end IoT services aimed towards accelerating enterprise digital enablement and improving the adoption of connected services in Pakistan.e& lifee& life made more innovative solutions and services available to its customers to help them in their daily lives. Its fintech arm and financial Super App e& money partnered with Mastercard to enable payments worldwide via an exclusive prepaid card, offering the flexibility and convenience of using both virtual and physical cards, and becoming the first issuer supported by a telecom operator in the UAE.evision, the media and entertainment arm of e&, has launched the 24/7 GolfLife channel to broadcast live golf in the region and has acquired exclusive MENA rights to the PGA TOUR, the DP World Tour, the Ryder Cup, the Presidents Cup, and cricket's most anticipated event, the TATA Indian Premier League 2023. evision successfully launched OTT platforms in Pakistan with SHOQ TV for PTCL and TWIST TV for Etisalat Egypt by e&. evision also secured a strategic agreement for StarzPlay and e& OpCos with WATCH IT, a leading video-on-demand for Arabic content.e& enterpriseLeading the digital transformation journey across the business sector, e& enterprise has achieved remarkable milestones by going the extra mile to deliver the best technologies that empower businesses across the region.The company has launched its Sustainability As-a-Service offering to help businesses in their sustainability journey by partnering with Microsoft to implement the Microsoft Sustainability Manager as a key component of the proposition.Help AG, the cybersecurity arm of e& enterprise, launched its new SaaS platform UNIFY to integrate with the ever-evolving cybersecurity technology landscape and deliver a seamless, unified customer experience.e& enterprise IoT & AI joined hands with Mohammed Bin Rashid Space Centre (MBRSC) with an aim to explore the opportunity to develop a commercial model to take MBRSC’s models and predictions to the market also enabling e& enterprise to leverage the space centre's expertise in AI and predictive models, while the Centre will benefit from the former’s resources and capabilities. e& capitalThe tech investment arm of e& led a pre-series C round raising $10 million for almentor, a leading online video learning platform in Arabic. The proceeds will be used to accelerate almentor’s growth towards its goal of serving ten million learners in the MENA region and use the funds to increase its investment in the B2C segment while expanding into Saudi Arabia.