The company's net profit increased by 38.7% during the first quarter

2.88 billion dirhams, the revenues of Emirates Integrated Telecommunications in 3 months

Fahad Al-Hassawi: “During the first quarter, we maintained our commitment to invest in modernizing our network.”

Emirates Integrated Telecommunications Company announced yesterday its financial results for the first quarter of this year, achieving revenues of 2.88 billion dirhams, an increase of 5.2% from the previous quarter, while it recorded profits before deduction of interest, taxes, depreciation and consumption amounting to 1.12 billion dirhams, an increase of 8.7% from The previous quarter, while the net profit of the company during the first quarter of this year amounted to 257 million dirhams, a growth rate of 38.7%, excluding the process of reducing the value of goodwill that was recorded in the fourth quarter of last year, while the capital expenditures pumped by the company during the first quarter of This year, 568 million dirhams.

Mobile

The company stated, in a statement, that mobile services revenue had stabilized at 1.31 billion dirhams, due to the growth in the mobile subscriber base by 1.9% to reach 6.8 million subscribers by the end of the first fourth, which contributed to mitigating the impact of the slight decrease in the average return per user (ARPU). ARPU) (-0.7% qoq)

"Constant"

Revenue from fixed line services continued its growth path during the first quarter of 2021 by 2.8% on a quarterly basis and by 3.4% on an annual basis, to record its highest level ever at 663 million dirhams.

The company started the new year with very encouraging results, with the addition of 13,000 broadband subscribers across the UAE, ending the first quarter with a broadband subscriber base of 248,000.

Revenues

The company's other income grew by 16.5% on a quarterly basis and by 7.6% on an annual basis, to reach AED 908 million.

This growth came as a result of high wholesale sales revenues, information and communication technology solutions, and strong demand for iPhone 12 phones from customers.

Gradual recovery

Fahad Al-Hassawi, Acting CEO of Emirates Integrated Telecommunications Company, said, “The end of the first quarter of this year coincides with the passage of a full year since the start of the (Covid-19) pandemic, and during the first quarter of 2021 we continued to notice additional signs of the gradual recovery that we are witnessing. Business », pointing out that« the wheel of the economy and the movement of markets in general is witnessing a remarkable recovery ».

Update

Al-Hassawi continued: “During this first quarter, we maintained our commitment to invest in modernizing our network, and our capital management strategy has proven successful, especially with the encouraging trends that we have observed through the provision of broadband services to a large number of new customers across the UAE, in addition to sales of smart devices. ».

13 thousand new customers

Fahad Al-Hassawi, Acting CEO of Emirates Integrated Telecommunications Company, said: “We added 13,000 new customers to the fixed-line subscriber base during the first quarter. The side of dealers on the services of the fifth generation network ».

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