"Etisalat Group" announced yesterday its consolidated financial results for the first three months ending March 31, 2020, explaining that the value of its consolidated revenues reached 13.1 billion dirhams, an annual increase of 1%, while the value of the consolidated net profit after deducting the federal concession right to 2.2 billion dirhams, with a net profit margin of 17%.

The group stated, in a statement, that as part of Etisalat’s support and contribution to society and its shareholders, the Board of Directors approved the distribution of interim dividends of 25 fils per share.

Subscriber base

According to the statement, the total subscriber base of "Etisalat Group" reached 150 million subscribers, which represents an annual increase of 5%, while the subscriber base of "Etisalat" in the UAE has grown during the first quarter of this year to reach 12.7 million subscribers.

The profits of the consolidated “Etisalat Group” before calculating interest, tax, depreciation and amortization reached 6.7 billion dirhams, an annual increase of 1.5% and an annual margin of 51%.

cooperation

Etisalat indicated that it provides free internet packages on mobile phones for families without home internet, to facilitate their access to distance learning services, and other free applications to support the home work mechanism for companies and government agencies.

Etisalat and Dubai Police launched the first smart patrol of its kind in the Middle East and North Africa region connected to the 5G network, in addition to its cooperation with Microsoft to advance the digital transformation in the communications system of Cloud by building an advanced digital platform that depends on modern technologies , Such as automation, and artificial intelligence.

Etisalat has also collaborated with Alef Education in launching a series of digital initiatives to support and empower the education sector in the region.

Etisalat also collaborated with the Department of Health in Abu Dhabi to launch the innovative "Digital Healthcare Center".

High capacity

“Etisalat has demonstrated a high capacity and great commitment to the communities it serves, to ensure business continuity and readiness, and to minimize the impact of the challenges we are witnessing today on its operations, and in a way that has contributed to providing its various services,” said Obaid Humaid Al Tayer, Chairman of the Board of Communications. Seamlessly to all of its customers, ”he added.“ From here, the performance of (Etisalat) came during the first quarter to reflect flexibility in dealing with market challenges, and with the unprecedented pressures facing the global telecom sector. ”

Promising opportunities

Al-Tayer stressed that, despite the current conditions and challenges facing the global communications sector, we are confident that the future brings with it many promising opportunities, as we witness today the emergence of a new era that imposed on various sectors, the need to move quickly towards keeping pace with the digital transformation, which highlights The pivotal role of the fifth generation network, which is the main potential, especially for business solutions, education and digital entertainment, in addition to its ability to meet the current and future customer requirements. ”

150

Million subscribers, total subscriber base of the group at the end of the first quarter.

2.2

Billion dirhams consolidated net profit after deduction of the federal concession.