Etisalat Group announced its consolidated financial results for the first half of the year 2019 and ended on June 30, 2019.
Etisalat's subscriber base in the UAE reached 12.4 million in the first half of 2019, while Etisalat's total subscriber base reached 143 million, an annual increase of 2%.
Etisalat's consolidated revenues reached AED 25.9 billion, while the consolidated net profit after the federal franchise was AED 4.4 billion, an annual increase of 3.1%, resulting from a net profit margin of 17%.
Total interest, tax, amortization and amortization reached AED 13.3 billion, an annual increase of 2%, resulting in a 52% interest, tax, amortization and amortization margin.
Earnings per share during the first half of 2019 amounted to AED 0.51, an increase of 3% compared to the same period of 2018.
Sector leadership
Etisalat Group CEO Essa Mohammed Al Suwaidi said Etisalat's performance in the first half of 2019 underscores its leadership in the region's telecommunications sector by maintaining its core business momentum and enjoying high flexibility in the digital field, Her vision is to "drive the digital future to empower communities".
"The launch of the first 5G network in the Middle East and North Africa is a major achievement, as it will provide many promising opportunities, adding value to subscribers and shareholders alike, and accelerating and stimulating many digital services.
He pointed out that Etisalat has recently launched advanced digital banking services through e-Wallets or electronic shoppers, which is an effective step towards realizing the vision of the UAE in digital transformation.
Al Suwaidi thanked the UAE leadership for its continuous vision and support for the telecommunications sector. He thanked the dealers and shareholders for their confidence in Etisalat Group, and praised the efforts of the management team and all employees in the digital vision. Long-term growth, providing added value to subscribers and shareholders.
Future Networks
Etisalat's CEO, Saleh Abdullah Al Abdooli, said Etisalat's financial performance during the first half of 2019 underscores the Group's significant efforts in building and investing in future networks, with an emphasis on enabling innovation , And accelerate the process of digital transformation across its various operations.
"While Expo 2020 Dubai is the first major enterprise in the Middle East, Africa and South Asia to partner with Etisalat on the fifth generation of telecommunications networks, Etisalat is proud of its unprecedented achievements, The fifth generation network, the first telecom operator in the region, launched its first commercial fifth generation network, launched the first of its kind in the region to support the network and succeeded in enabling visitors within the new Abu Dhabi International Airport building to enjoy the high-speed Provided by the fifth generation network ».
"These unique achievements at the regional level are made possible by the focus and commitment to key strategic priorities, which will work towards a smarter digital future and open up opportunities for interaction with subscribers and customers in new ways.
Etisalat is confident that the fifth generation network will change the way we work and interact with each other by making a positive impact on different communities and sectors, especially economic ones.
Al Abdooli stressed that the focus of Etisalat Group will be to continue investing in future solutions, networks and next-generation technologies, thereby providing innovative and unprecedented services and solutions for both corporate and retail customers.