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9pc INCREASE IN GAINS

Saleh Al Abdooli...robust growth

Etisalat Group 9-month net profit hits $1.69bn

ABU DHABI, October 26, 2016

Etisalat Group, a leading telecom company, reported a net profit of Dh6.2 billion ($1.69 billion) for the first nine months of this year, an increase of 9 per cent compared to the same period last year.

Consolidated net profit for the thrid quarter after federal royalty amounted to Dh1.9 billion ($517.3 million), a 16 per cent increase after adjusting for the impact of sale of Canar in Sudan during the third quarter, it said. Earnings per share (EPS) amounted to Dh0.22 in the third quarter of 2016.

The group’s consolidated revenues for Q3 amounted to Dh13.2 billion, an increase of 3 per cent year over year (y-o-y).

Consolidated EBITDA amounted to Dh6.8 billion, representing an increase of 3 per cent y-o-y,  resulting in EBITDA margin of 51 per cent, it said.

Etisalat Group’s aggregate subscribers reached 162 million as on September 30. In the UAE, the active subscriber base grew to 12.2 million, representing a year-on-year growth of 5 per cent. Subscriber growth continued to be driven by strong performance of mobile and eLife segments. The mobile subscriber base grew year on year by 7 per cent.

The subscriber base of Maroc Telecom, an Etisalat unit, reached 52.3 million customers, representing a year over year growth of 3 per cent.

In the UAE, revenue in the third quarter increased year on year by 4 per cent to Dh7.5 billion. Maroc Telecom's consolidated revenue for the third quarter amounted to Dh3.3 billion representing a year over year growth of 2 per cent.

The group launched a new digital business unit in the UAE called Etisalat Digital and announced first Data Balance Transfer Service in the UAE. It also started its new ‘Etisalat Wallet’ service in the UAE during the period.

Eng. Saleh Al Abdooli, CEO, Etisalat Group said: “The robust and constant growth of Etisalat Group is underpinned by our continued investments in next-generation services and solutions that add tremendous value to the communities we serve and enhance the customer experience.  As a leading ICT provider in emerging markets, we are pushing our boundaries consistently, by not only responding swiftly to digital advancements, but also in proactively delivering cutting-edge services and solutions to our customers. Our first-mover accomplishments set us apart and make us the go-to overall service provider for customers, businesses and governments.

“We understand the aspirations of our customers, and that drives us to deliver innovative solutions to meet the demands of today’s digital age. Today, we deliver the fastest speeds in the region through our 4G LTE network, and we are contributing to transforming the UAE as a global leader in Fibre-To-The-Home deployment by delivering high quality, high-speed connectivity for nearly 90 per cent of the country’s populated homes. We have also made good progress on trials of our 5G network in the UAE, an investment that will enable our nation and our businesses to achieve transformational growth by leveraging the Internet of Things and The Cloud," he said.

“Investing in state-of-the-art infrastructure for the future and building intellectual capital, we are honoured to be one of the partners contributing in delivering the vision of our leadership. We are demonstrating our next-generation capabilities through our role as Premium Partner of Expo 2020 Dubai, making the Expo site one of the fastest, smartest and best-connected places in the world. We will continue to focus on creating the world’s best networks in all the markets that we operate, and in delivering long-term value for all our stakeholders,” he added.– TradeArabia News Service




Tags: UAE | Etisalat | Telecom |

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