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Etisalat Group posts AED 6.7 billion net profit in 9 months

2019-10-23T22:05:29.690Z

Etisalat Group achieved a consolidated net profit after deducting the federal franchise amounted to 6.7 billion dirhams during the first nine months of this year, an annual increase of 2.1% compared to the same period last year, while the value of the group reached 38.8 billion dirhams.



Etisalat Group achieved a consolidated net profit after deducting the federal franchise amounted to AED 6.7 billion during the first nine months of this year, an annual increase of 2.1% compared to the same period last year, while the value of the group reached AED 38.8 billion , Over the same period.

Etisalat Group's subscriber base reached 148 million subscribers, an annual increase of 5%, while Etisalat's subscriber base stood at 148 million, the Group said in a statement yesterday. The UAE has 12.4 million subscribers.

Consolidated interest, tax, depreciation and amortization (EBITDA) totaled AED 20.1 billion, up 2%.

Third quarter

For the third quarter of this year, Etisalat Group's consolidated revenues reached AED 13 billion, while consolidated net profit after deducting the federal franchise 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, up 3% year-on-year.

Digital switching command

Etisalat Group Chief Executive Officer, Eng. Saleh Abdulla Al Abdouli said that Etisalat's performance during the third quarter of this year confirms its ability to cope with the rapid developments witnessed by the telecommunications sector. Pioneering the deployment of the 5G network and starting to use promising AI-based and robotics technologies in its various operations. ”

'Etisalat's strategy of' Leading the Digital Future to Empower Communities 'has paved the way for realizing our aspirations for digital transformation and ushering in the era of the 5G network and its unlimited horizons,' Abdouli added.

Different services

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 and reshape and modernize the telecommunications industry on a large scale.

Acquisition and cloud solutions

Etisalat has achieved a number of achievements during the first nine months of 2019, most notably the signing of an agreement to acquire help AG specialized in cybersecurity solutions in the UAE and Saudi Arabia, in addition to its cooperation with Microsoft to provide smart cloud solutions to its customers, It launches the first international roaming agreement for the 5G network in the MENA region.

38.8

The Group's revenues for the first nine months of 2019 were AED 1 billion.

12.4

One million Etisalat subscribers in the UAE.

Source: emara

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