Etisalat profit rises 5% to Dh2.2b as subscribers jump

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Etisalat profit rises 5% to Dh2.2b as subscribers jump

Abu Dhabi - The consolidated revenues amounted to Dh13 billion in January-March 2019 quarter.

By Staff Report

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Published: Tue 23 Apr 2019, 1:19 PM

Last updated: Thu 25 Apr 2019, 12:18 AM

Etisalat Group on Tuesday said its consolidated net profit after federal royalty rose by five per cent to Dh2.2 billion in first quarter of 2019 as the telecom group continued its focus on driving the digital future to empower societies.
The Abu Dhabi-based telecom conglomerate said consolidated revenues amounted to Dh13 billion in January-March 2019 quarter. It said consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) totalled Dh6.6 billion, representing an increase of two per cent year-on-year increase and resulting in EBITDA margin of 51 per cent.
Aggregate subscribers base also rose two per cent and reached at 143 million while the UAE subscriber base reached 12.6 million in January-March quarter.
Saleh Abdullah Al Abdooli, Etisalat Group CEO said Etisalat's solid performance of the first quarter is a promising start for 2019.
"It is an extension for our achievements of last year, and a testimony to the efforts in realising our vision and ambitions toward 'Driving the digital future to empower societies'," he said.
"Etisalat achieved the most valuable telecom brand in the Mena region, yet another significant milestone attributed to our digital efforts," he added.
He said Etisalat infrastructure continues to play a key role in our goal to bring-in full scale digital transformation. "The consistent efforts and investment in our network has helped position the UAE as a global leader in FTTH penetration among all its international counterparts for a third year in a row," he said.
"Etisalat will continue its endeavour towards network modernisation and investment in future technologies such IoT and AI powered by our pioneering deployment of 5G network which will enable the company to address its growing customer and business aspirations with innovative services and solutions. We are confident that 5G will bring a wealth of opportunities in the socio-economic development of the UAE," he said.
- business@khaleejtimes.com
 


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