Ahmad Abdulkarim Julfar
Etisalat Q1 profit rises 11pc to top $544m
Dubai, April 27, 2014
UAE-based Etisalat Group, the leading telecom operator, reported on Sunday a net profit of 2 billion dirhams ($544.5 million) in the three months to March 31 as against a profit of 1.8 billion dirhams a year earlier, marking an increase of 11 per cent.
Ahmad Abdulkarim Julfar, Group chief executive officer, Etisalat, said: “In the first quarter of 2014, Etisalat successfully deployed LTE (Long-Term Evolution) Advanced technology (LTE-A); a standard for high-speed mobile data communication, for the first time in the region on 1800 MHz and 800 MHz bands.”
“The strong momentum built up by our data business in 2013 continued in the first quarter of 2014, and this segment will remain a strategic priority for the company. The successful LTE-A deployment is significant as it provides significant new opportunities in commercialising the data segment.
“Being able to help millions of customers to navigate the digital eco-system requires Etisalat to continually invest and innovate to keep pace with the growing demand for mobile data within our networks. This growth also contributes to our efforts in strengthening mobile banking solutions in the markets where Etisalat operates,” he added.
“We will continue to expand our service offering and geographic footprint in order to diversify our revenue base and cement our regional leadership position. Africa remains a strategic region for our business and we will continue to invest and build even closer relationships with the communities in which we operate in the continent,” Julfar continued.
“We are also proud to have made a significant contribution to the UAE’s m-government strategy this quarter with the launch of our 2G trade-in initiative. Etisalat Group believes in supporting initiatives that are of benefit to local communities and this initiative will make smartphone technology available and affordable for many more people in the UAE,” he added.
Etisalat Group aggregate subscriber base grew to 145 million by end of March 2014 representing year over year growth of 3per cent.
In the UAE, the active subscriber base grew to 10.9 million subscribers in March 2014 representing year over year growth of 16 per cent. Etisalat UAE strengthened its competitive position in Q1 2014 by reinforcing its leadership in high-value segments in both the mobile and fixed segments. As a result, in the UAE, the mobile subscriber base grew by 20 per cent to reach 8.9 million subscribers.
Fixed line subscribers including eLife and broadband segments increased to 2 million representing a year on year growth of 2 per cent.
Etisalat Group’s consolidated revenue in the first quarter of 2014 amounted to Dh9.9 billion with growth accelerating to 3 per cent in comparison to the same period last year.
In the UAE, revenues of Dh6.5 billion for the first quarter of 2014 were 8 per cent higher than the first quarter of 2013. This growth was mainly as a result of increased demand for eLife services, handset sales and mobile data.
Revenue from international consolidated operations reached to Dh 3.3 billion, representing 34per cent of consolidated revenues. – TradeArabia News Service