Etisalat Group announced yesterday its consolidated financial results for the first half of the year ending on June 30, 2020.

According to the financial results, during the first half of the year, Etisalat’s subscriber base reached 11.8 million, while the total number of Etisalat Group reached 146 million, with an annual increase of 2%. The consolidated revenue of the group was 25.6 billion dirhams.

The Board of Directors approved the distribution of interim dividends for the second quarter of 15 fils per share, thus the interim profit value for the first half would be 40 fils per share.

The group revealed that its consolidated net profit after deducting the federal concession amounted to 4.6 billion dirhams, an annual increase of 3%, representing a net profit margin of 18%. The total consolidated interest, tax, consumption and amortization amount reached 13.2 billion dirhams.

The Chairman of the Board of Directors of «Etisalat Group», Obaid Hamid Al Tayer, said that the group managed during the first half of 2020 to perform well, despite the urgent circumstances and challenges that the world is witnessing due to the current Covid-19 pandemic.

He emphasized that «Etisalat» succeeded in adapting, responding, and showing complete flexibility in interacting with this crisis, and in a manner that enabled it to continue providing its services to customers, both individuals and institutions, with high efficiency and reliability.

For his part, Acting CEO of "Etisalat Group", CEO of International Operations in the group, Hatem Dowidar, said that the performance of "Etisalat" was a reflection of the solid foundations on which the company was based, and a reflection of a strong communications network that played a major role in employing its services and innovative digital solutions To enable governments, industries and societies to accelerate and enable the process of digital transformation.

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