e& significantly increased network investment in the second quarter of 2026, with Group capital expenditure reaching AED 2.873 billion, excluding license and spectrum costs. This represents an increase of 15.4 percent from AED 2.490 billion in Q2 2025 and a sharp 42.1 percent rise from AED 2.022 billion in Q1 2026.
The higher spending lifted Group capex intensity to 15 percent of revenue, compared with 14 percent in Q2 2025 and 11 percent in Q1 2026, reflecting e&’s focus on investing in premium networks to support future growth.
International operations accounted for the largest share of investment. e& international recorded AED 1.899 billion in capex, with a 20.4 percent capex intensity. This represented roughly 66 percent of total Group capex during the quarter.
Within the international portfolio, Maroc Telecom was the largest investor with AED 819 million in capex and a 22.4 percent intensity ratio. PPF Telecom invested AED 492 million, representing 17.5 percent intensity, while e& Egypt spent AED 347 million and recorded the highest capex intensity among the highlighted international businesses at 27.1 percent. PTCL invested AED 224 million, equivalent to 16.4 percent capex intensity.
In its home market, e& UAE invested AED 914 million, representing a 10.3 percent capex intensity, as the operator continued strengthening its premium telecom network infrastructure. e& enterprise recorded AED 13 million in capex, with an intensity ratio of just 1.5 percent.
Overall, the figures show that e& is directing the majority of its incremental network investment toward international markets, with AED 1.899 billion of its AED 2.873 billion Group capex allocated to international operations, compared with AED 914 million in the UAE.
FASNA SHABEER
