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Essa Mohamed Al Suwaidi ...group shows agility

Etisalat Group posts consolidated revenue of $6.89bn

ABU DHABI, July 26, 2017

Etisalat Group, a leading telecom company, reported consolidated revenues of Dh25.3 billion ($6.89 billion) for the first half of 2017.

Etisalat’s UAE revenues amounted to Dh15.4 billion, representing 3 per cent  increase year over year. The UAE net profit amounted to Dh4.2 billion, representing 7 per cent increase, the company said.

The telecom major’s aggregate subscriber base reached 139 million during the period, while UAE subscriber numbers hit 12.4 million, an increase of 2 per cent on the same period last year.

The company declared an interim dividend for the first half of the fiscal year 2017 of 40 fils per share.

The company’s second quarter (Q2) UAE revenues amounted to Dh7.8 billion, representing a 3 per cent increase compared to Q1, 2017. Etisalat UAE net profit amounted to Dh2.2 billion representing 6 per cent increase year over year and 7 per cent increase compared to Q1 2017.

The group consolidated operating profit before Federal Royalty amounted to Dh8.8 billion.

Essa Mohamed Al Suwaidi, chairman of Etisalat Group, said: “Etisalat Group showcased agility in the first half of this year adapting to the changes in the telecom industry, while the period revealed promising opportunities for growth in telecom and digital services we also proved our strong position by dynamically managing challenges in some international markets. The financial performance laid a solid foundation for innovation allowing us to continue investing in the development of next generation infrastructure while maintaining our focus on digital transformation, which in turn has a significant impact on enhancing the overall customer experience.

Eng. Saleh Al Abdooli, CEO, Etisalat Group, said: “Etisalat Group’s financial performance in the first half of 2017 reaffirms our strong position and demonstrates our flexible strategy in adapting to the developments and changes in the telecom sector.

“Etisalat Group has established a competitive position in the region as a fully integrated ICT solutions and services provider. Today we are proud that Etisalat is a key strategic player in major digital transformation projects in the UAE and beyond. Our recent announcement of the longest submarine cable system is another step to enhance our long-term growth and bring new capacity to UAE making it an international hub." - TradeArabia News Service
 




Tags: Etisalat | profit | Revenue |

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