UAE's leading telecom services company Etisalat Group has registered solid growth for the first six months of 2019 with a consolidated net profit of Dh4.4 billion ($1.2 billion), up 3.1 per cent compared to last year, and a record revenue of Dh26 billion ($7 billion).

Announcing the consolidated financial results for the first six months ending June 30, Etisalat said the ebitda for the period totalled Dh13.3 billion, representing an increase of 2% year over year and resulting in ebitda margin of 52%.

The UAE telco giant pointed out that the group's subscriber base reached 143 million representing year on year increase of 2%.

On its key achievements, Etisalat said it has become the first telecom operator in Mena region to provide 5G network inside Abu Dhabi’s new international airport, hence enabling it to become the first airport in the region with 5G coverage allowing speeds of up to 1Gbps.

During the six-month period, the company had launched e-Wallet, the new mobile digital payment service in collaboration with Noor Bank.

Etisalat collaborated with Microsoft as its strategic partner to provide government entities, large enterprises, and small and medium enterprises with state of the art digital transformative solutions.

On the record performance, Group Chairman Essa Mohamed Al Suwaidi said: "Etisalat’s performance in the first half of the year is a testimony of its regional leadership in the telecom sector. We have remained focused on our core business while demonstrating agility to transform and lead in the digital space driven by our bold vision ‘To Drive the Digital Future to empower societies."

The launch of the first 5G network in the region is a major achievement as it opens up massive opportunities and adds value to both our customers and shareholders, it will help fast-track new innovative digital services, stated Al Suwaidi.

"We have recently launched our mobile digital payment banking service e-Wallet, which is a solid step towards achieving the smart vision of UAE and is in line with country’s overall objectives to achieve digital transformation," he added.  

Group CEO Engineer Saleh Al Abdooli said: "Etisalat Group’s solid financial performance in the first half of 2019 is a result of our sincere efforts in building and investing in future networks while focusing on enabling innovation, and accelerating digital transformation across our operations."

"While Expo 2020 was the first major commercial customer in MEASA to partner with Etisalat on 5G, Etisalat remains proud of its accomplishments as the first telecom operator to launch the first commercial 5G network in Mena," he noted.

"Through our network rollout and the pioneering launch of the first 5G handset in the Mena, we managed to provide our UAE customers with an opportunity to experience the power of 5G technology before many others.  We have also empowered visitors at Abu Dhabi international airport with indoor ultra-high speed 5G connectivity, making it the first airport in the region with 5G coverage," stated Al Abdooli.

"These breakthrough achievements were only possible due to sincere commitment and focused efforts on key strategic priorities that would enable a smarter digital future, transform the ecosystem and open up opportunities to engage with business and customers in new ways. 5G will forever change the way we work and live by bringing positive impact on societies, industries and economies," he added.-TradeArabia News Service