External broker reports(aggregated public sources), International Securities

International Securities

External broker reports(aggregated public sources)

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Equity Bottom-Up

Emirates Integrated Telecommun / Equity Bottom-Up

<ul><li>Du reported 3Q24 profit of AED719mn, up 43% YoY, and 24% QoQ; higher than estimates</li><li>Fixed subscriber base went up 14</li><li>2% YoY to 655K with net additions of over 24K during the quarter, while mobile subscriber base increased 2</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Du reported 3Q24 profit of AED719mn, up 43% YoY, and 24% QoQ; higher than estimatesFixed subscriber base went up 142% YoY to 655K with net additions of over 24K during the quarter, while mobile subscriber base increased 2Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EITC (DU) -  3Q24 Earnings up 43% YoY (+24% QoQ), Higher than Estimates

Thematic (Sector/Industry)

<ul><li>We expect ADNOC Drilling to post 3Q24e shareholder’s profit of USD311mn, up 21% YoY and 6% QoQ.</li><li>We expect total rig count to increase to 143 rigs, up from 140 rigs in 2Q24 and 124 rigs in 3Q23.</li><li>On YoY basis, we expect revenue to increase by 26% to USD976mn, led by higher number of rigs and continued expected growth in the Oil Field Services (OFS) business.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We expect ADNOC Drilling to post 3Q24e shareholder’s profit of USD311mn, up 21% YoY and 6% QoQ.We expect total rig count to increase to 143 rigs, up from 140 rigs in 2Q24 and 124 rigs in 3Q23.On YoY basis, we expect revenue to increase by 26% to USD976mn, led by higher number of rigs and continued expected growth in the Oil Field Services (OFS) business.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

3Q24 Quarterly Previews for IS Coverage Universe

<ul>
<li>We expect ADNOC Drilling to post 4Q23e profits of USD263mn, up 2% QoQ and 13% YoY.</li>
<li>Our 4Q23e result would take FY23e profit to USD967mn, up 21% YoY and towards the high end of the management’s guided range of USD850mnUSD1bn.</li>
<li>We expect total rig count to reach 129 rigs, compared to 124 rigs and 115 rigs in 3Q23 and 4Q22, respectively.</li>
</ul>
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.


We expect ADNOC Drilling to post 4Q23e profits of USD263mn, up 2% QoQ and 13% YoY.
Our 4Q23e result would take FY23e profit to USD967mn, up 21% YoY and towards the high end of the management’s guided range of USD850mnUSD1bn.
We expect total rig count to reach 129 rigs, compared to 124 rigs and 115 rigs in 3Q23 and 4Q22, respectively.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

United Arab Emirates

Emirates Integrated Telecommunications Co PJSC provides a range of telecommunication services. The Company offers mobile and fixed telephony, broadband connectivity and television services to individuals, homes, and businesses. EITC operates throughout the UAE, and has headquarters in Dubai, United Arab Emirates.

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Emirates Integrated Telecommun (DU UH)

EITC (DU) - 3Q24 Earnings up 43% YoY (+24% QoQ), Higher than Estimates

Du reported 3Q24 profit of AED719mn, up 43% YoY, and 24% QoQ; higher than estimates. Fixed subscriber base went up 14. 2% YoY to 655K with net...

International Securities

3Q24 Quarterly Previews for IS Coverage Universe

We expect ADNOC Drilling to post 3Q24e shareholder’s profit of USD311mn, up 21% YoY and 6% QoQ. We expect total rig count to increase to 143 rigs,...

International Securities

4Q23 Quarterly Result Previews

Our 4Q23e result would take FY23e profit to USD967mn, up 21% YoY and towards the high end of the management’s guided range of USD850mnUSD1bn.

International Securities

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