Etisalat Group posted a net profit of AED 6.7 billion for the first nine months of the year ended September 30, 2019, with an annual growth of 2.1%, according to the consolidated financial results released today by the group.
Etisalat Group's total subscriber base reached 148 million, up 5% year-on-year, while consolidated revenues for the first nine months of 2019 reached AED 38.8 billion, while its consolidated net profit after the federal concession was deducted. During the same period to AED 6.7 billion, an annual increase of 2.1%, compared to the same period last year.
The consolidated total value of interest, tax, depreciation and amortization (EBITDA) for the nine months was AED 20.1 billion, an annual increase of 2%, resulting in an interest, tax, depreciation and amortization margin of 52%.
Etisalat Group Chief Executive Engineer Saleh Abdullah Al Abdooli said that the performance of Etisalat Group during the third quarter of this year confirms its ability to cope with the rapid developments in the telecommunications sector. Leading the digital transformation, and in the way it has contributed to the deployment of the 5G network, is starting to use promising AI-based technologies and robots in its various operations.
'Etisalat's strategy of' Leading the Digital Future to Empower Communities' has paved the way for us to realize our aspirations for digital transformation, usher in the era of the 5G network and its unlimited horizons, and make practical use of the great and promising opportunities it has created, the most important of which is to spread a wide range of solutions. Digital and innovative services for different sectors; accelerate the process of digital growth, increase efficiency and effectiveness, and enhance the overall customer experience.
Eng. Saleh Abdullah Al Abdouli pointed out that Etisalat today, through its partnerships with the public and private sectors, is ready to provide various services and innovative solutions based on the 5G network, which will enrich the society, reshape and modernize the telecommunications industry on a large scale. Etisalat's investments in infrastructure and its efforts to train and empower its people have given it the confidence to move forward in achieving its strategic goals and meeting the needs and requirements of its current and future customers in the various communities in which it operates.
Etisalat Group Chief Executive Officer concluded his statement by thanking the wise leadership of the UAE for its continuous and continuous support to the Group, and the shareholders for their continued encouragement, customers for their trust and loyalty, pointing out that Etisalat puts its customers at the heart of all its work.
Etisalat's subscriber base in the UAE reached 12.4 million, while Etisalat's total subscriber base stood at 148 million, an annual increase of 5%.
Etisalat Group's consolidated revenues for the third quarter of 2019 amounted to AED 13.0 billion, while consolidated net profit after deducting the federal concession amounted to AED 2.3 billion, resulting in a net profit margin of 18%.
Consolidated interest, tax, depreciation and amortization (EBITDA) for the third quarter totaled AED 6.8 billion, an annual increase of 3%.
Etisalat has launched the first international roaming agreement in the Middle East and North Africa (MENA) region, while Etisalat covers the world's top 5G network with 5G.
Etisalat Academy has also launched the first accredited training center in the Arabian Gulf region for training in service automation.