Fully Enclosed Cabin Provides All-Weather Protection for Work and Play
GARLAND, Texas, Oct. 10, 2024 /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) ("Massimo"), a manufacturer and distributor of powersports vehicles and pontoon boats, today announced the launch of a new T-Boss UTV series with Cab Enclosure, the best equipped and most value-packed UTVs in their class.
The Massimo Motor T-Boss Series of UTVs is one of the most versatile on the market. This new series of T-Boss UTVs is equipped with Cab Enclosure that is built to deliver complete protection from the elements. Made with durable tempered glass, this fully enclosed cabin shields passengers from rain, wind, and snow, providing a comfortable environment for all outdoor tasks. The new series of T-Boss UTVs are also equipped with a built-in heater, it's perfect for cold-weather operations, whether tending to livestock, managing large properties, or navigating hunting trails in harsh winter conditions.
This innovative new T-Boss series with cab enclosure includes T-Boss 550L, T-Boss 560L, and T-Boss 760L, and are available through your local dealer dealer/retailer. See MassimoMotor.com for more details.
"As we gear up for this exciting launch, orders for the 2025 models will be accepted now, with deliveries starting in the fourth quarter of this year," said David Shan, Founder, Chairman & CEO. "And there's more to come: we continue to invest in our R&D to further enhance the technological features of our products, using advanced technology to offer our UTV customers a smoother and more comfortable ride. The next advancement in this series will feature a fully air-conditioned cabin, offering both heating and cooling, ensuring year-round comfort no matter the season. Whether it's freezing cold or blazing hot, the new T-Boss series have our customers covered for all their outdoor endeavors."
About Massimo Group
Massimo Group (NASDAQ: MAMO) is a manufacturer and distributor of powersports vehicles and pontoon boats. Founded in 2009, Massimo Motor believes it offers some of the most value packed UTV's, off-road, and on-road vehicles in the industry. The company's product lines include a wide selection of farm and ranch tested utility UTVs, recreational ATVs, and Americana style mini-bikes. Massimo Marine manufacturers and sells Pontoon and Tritoon boats with a dedication to innovative design, quality craftsmanship, and great customer service. Massimo is also developing electric versions of UTVs, golf-carts and pontoon boats. The company's 376,000 square foot factory is in the heart of the Dallas / Fort Worth area of Texas in the city of Garland. For more information, visit massimomotor.com and massimomarine.com.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and the use of proceeds thereof. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "predict," "project," "target," "potential," "seek," "will," "would," "could," "should," "continue," "contemplate," "plan," and other words and terms of similar meaning. These forward-looking statements include information concerning statements regarding future cash needs, future operations, business plans and future financial results; and any other statements that are not historical facts. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Massimo, including those set forth in the "Risk Factors" section of Massimo's Registration Statement on Form S-1 for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. Massimo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company
Dr. Yunhao Chen
Chief Financial Officer
Massimo Group
ir@massimomotor.com
Investor Relations
Chris Tyson
Executive Vice President
MZ North America
Direct: 949-491-8235
MAMO@mzgroup.us
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Massimo Launches New T-Boss UTV Series for the Winter Season
- Consolidated revenue for the first half increased to AED 38.1 billion, achieving 11.6% growth YoY
- The Group's consolidated net profit reached AED 6.0 billion, growing by 2.4% YoY (excluding the gain from the sale of Khazna and the Maroc Telecom settlement in H1 2025)
- EBITDA reached AED 17.7 billion, an increase of 13.1% compared to the same period last year, with a profit margin of 46.5%
- Interim DPS of 47.5 fils, an increase of 10.5% compared to the same period last year
- Strategic portfolio reset to sharpen the focus on strengthening core businesses with the sale of stake in Vodafone at a premium to the market price, and the partial sale of 12.5% stake in Careem Technologies
ABU DHABI, UAE, July 30, 2026 /PRNewswire/ -- e& today announced its financial results for the first half of 2026 (H1 2026), delivering strong financial and business performance that reflects the Group's ability to sustain growth across its home market and international operations. This performance was driven by a clear strategy focused on core businesses, comprehensive digital transformation, and accelerating AI-powered innovation.
During the first six months of this year, e& recorded strong growth in its consolidated revenue, reaching AED 38.1 billion, representing an increase of 11.6 per cent year-on-year (YoY). Consolidated net profit reached AED 6.0 billion, marking YoY growth of 2.4 per cent, excluding the gain on the sale of Khazna and the impact of the Maroc Telecom (MT) settlement in 2025.
EBITDA in H1 2026 reached AED 17.7 billion, a YoY increase of 13.1 per cent, resulting in a strong EBITDA margin of 46.5 per cent. These financial results are supported by the continued growth of the Group's overall subscriber base, which grew by 30.4% per cent to reach 251.5 million subscribers, while the number of e& UAE subscribers reached 16.5 million, an increase of 6.4 per cent YoY.
This performance reflects growing customer demand for the Group's portfolio of innovative services and solutions, as well as its ability to meet increasing demand for advanced connectivity infrastructure and deliver differentiated, AI-enhanced digital experiences for consumers and businesses.
Following a comprehensive strategic review of the Group's international investment portfolio after the end of the second quarter, e& successfully completed the sale of its entire stake in Vodafone Group Plc. The transaction generated gross cash proceeds of AED 21.9 billion (USD 5.95 billion) and net cash return of AED 4.8 billion (equivalent to USD 1.3 billion). Similarly, e& completed the sale of 12.5 per cent of its 50.03 per cent stake in Careem Technologies to Uber for total consideration of AED 367 million (USD 100 million).
Financial Highlights for H1 2026
| H1 2026 | H1 2025 | % Change | Q2 2026 | Q2 2025 | % Change |
| Consolidated
Revenue (1) | 38.1 billion
dirhams | 34.2 billion
dirhams | 11.6 % | 19.2 billion
dirhams | 17.7 billion
dirhams | 8.7 % |
| Consolidated
Net Profit | 6.0 billion
dirhams | 5.9 billion
dirhams (2) | 2.4 % | 3.1 billion
dirhams | 3.1 billion
dirhams (2) | 1.1 % |
| EBITDA (1) | 17.7 billion
dirhams | 15.7 billion
dirhams | 13.1 % | 9.0 billion
dirhams | 8.2 billion
dirhams | 9.8 % |
| Earnings Per
Share | AED 0.69 | AED 0.67
(2) | 2.4 % | AED 0.36 | AED 0.35
(2) | 1.1 % |
| Total Group
Subscribers | 251.5 million
subscribers | 192.9
million
subscribers
(3) | 30.4 % | 251.5
million
subscribers | 192.9
million
subscribers
(3) | 30.4 % |
| UAE
Subscribers | 16.5 million
subscribers | 15.5 million
subscribers | 6.4 % | 16.5 million
subscribers | 15.5 million
subscribers | 6.4 % |
| (1) Financial results of 2026 and comparative 2025 excludes Careem Technologies due to the deconsolidation after the partial sale of 12.5% stake. (2) Q2 2025 net profit & EPS adjusted for the impact of MT settlement, while H1 2025 net profit and EPS are adjusted for the impact of MT settlement and
the gain from sale of Khazna (3) Adjusted for Maroc Telecom reported number |
H1 2026
H1 2025
% Change
Q2 2026
Q2 2025
% Change
Consolidated
Revenue (1)
38.1 billion
dirhams
34.2 billion
dirhams
11.6 %
19.2 billion
dirhams
17.7 billion
dirhams
8.7 %
Consolidated
Net Profit
6.0 billion
dirhams
5.9 billion
dirhams (2)
2.4 %
3.1 billion
dirhams
3.1 billion
dirhams (2)
1.1 %
EBITDA (1)
17.7 billion
dirhams
15.7 billion
dirhams
13.1 %
9.0 billion
dirhams
8.2 billion
dirhams
9.8 %
Earnings Per
Share
AED 0.69
AED 0.67
(2)
2.4 %
AED 0.36
AED 0.35
(2)
1.1 %
Total Group
Subscribers
251.5 million
subscribers
192.9
million
subscribers
(3)
30.4 %
251.5
million
subscribers
192.9
million
subscribers
(3)
30.4 %
UAE
Subscribers
16.5 million
subscribers
15.5 million
subscribers
6.4 %
16.5 million
subscribers
15.5 million
subscribers
6.4 %
(1) Financial results of 2026 and comparative 2025 excludes Careem Technologies due to the deconsolidation after the partial sale of 12.5% stake.
(2) Q2 2025 net profit & EPS adjusted for the impact of MT settlement, while H1 2025 net profit and EPS are adjusted for the impact of MT settlement and
the gain from sale of Khazna
(3) Adjusted for Maroc Telecom reported number
Commenting on the financial results, H.E. Jassem Mohamed Bu Ataba Alzaabi, Chairman of e& Group, said: "Our results today confirm that the Group is making steady progress towards leading the digital future. We have successfully navigated regional and global challenges with agility and turned these challenges into real opportunities for business growth.
"Our financial performance in the first half of 2026 reflects the success of our strategy, which is built on the strength of e&'s core business portfolio, alongside our continued investments in technology infrastructure and advanced digital solutions. This has provided us with a solid foundation to sustain growth and reinforce our leadership across regional and international markets, as clearly demonstrated by consolidated revenue of AED 38.1 billion in the first half of 2026.
"The ongoing and rigorous assessment of our international investments is one of the key pillars through which we maintain e&'s financial strength and ensure the highest value and returns for shareholders. The completion of the sale of our stake in Vodafone in July 2026 generated AED 21.9 billion in cash proceeds and resulted in a net cash gain of AED 4.8 billion.
"Guided by the vision and support of the UAE's wise leadership, e& will continue to play a role in shaping the digital landscape and advancing social and economic progress. We will continue to strengthen our position and explore new technological frontiers, building on solid foundations to drive long-term growth and strengthen our leadership as a trusted partner in enabling comprehensive digital transformation. We will also continue to deliver innovations that strengthen the UAE's position on the global technology map."
Masood M. Sharif Mahmood, Group Chief Executive Officer of e& Group, said: "Despite the recent regional and global challenges, e& demonstrated the strength of its operating model and its ability to adapt throughout the first half of 2026. We also achieved a consolidated net profit of AED 6.0 billion and EBITDA of AED 17.7 billion, with a strong margin of 46.5% while maintaining healthy cash flows. This financial performance was further supported by continued growth in the Group's total subscriber base, which increased by 30.4% to reach 251.5 million subscribers.
"These results are a testament to our proactive risk management, the diversification of our portfolio across telecommunications and digital businesses, and the integration of innovative AI applications, this reinforces shareholder confidence in our ability to lead the digital future.
"Our strategy for long term growth is built on our ability to strengthen and improve our operating model, ensuring it remains responsive to regional and global shifts. This enables us to deliver strong returns that reflect disciplined capital management and flexibility in capital and asset rotation. Our strong financial position allows us to capture promising opportunities and continue developing future-ready digital infrastructure.
The Group Chief Executive Officer concluded: "e&'s greatest strength lies in its ability to ensure business continuity while delivering reliable digital services enhanced by advanced AI capabilities. e& maintained service continuity, strengthened network readiness, supported remote work and education ecosystems, and provided reliable digital infrastructure for individuals, businesses, and government entities. The Group has demonstrated its ability to fulfil its national and economic role, guided by the forward-looking vision of the UAE's wise leadership."
CONTACT: Nancy Sudheer, +971 50 705 5290, email: nsudheer@eand.com
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e& reports 11.6% increase in consolidated revenue to AED 38.1 billion in H1 2026
