Etisalat Group reports AED4.4 bn consolidated net profit in of 2019

ABU DHABI, The consolidated net profit of the Etisalat Group amounted to AED4.4 billion during the first half of the year ending 30th June, 2019, representing a 3.1 percent increase year-on-year.

According to financial results, the subscriber base reached 143 million, representing a year-on-year increase of two percent. While the consolidated revenues reached AED25.9 billion, the consolidated EBITDA totalled AED13.3 billion, representing an increase of two percent year-on-year and resulting in an EBITDA margin of 52 percent.

The earnings per share amounted to AED 0.51 in the first half of 2019, a three percent increase from the same period last year.

Essa Mohamed Al Suwaidi, Chairman of the Etisalat Group said, “Etisalat’s performance in the first half of the year is a testament to 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, as it will help fast-track new innovative digital services. We recently launched our mobile digital payment banking service e-Wallet, which is a solid step towards achieving the smart vision of the UAE and is in line with the country’s overall objectives to achieve digital transformation,” he added.

Saleh Al Abdooli, CEO of the Etisalat Group, said, “While Expo 2020 was the first major commercial customer in the 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 the MENA region. Through our network rollout and the pioneering launch of the first 5G handset in the MENA region, 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 the Abu Dhabi international airport with indoor ultra-high-speed 5G connectivity, making it the first airport in the region with 5G coverage.”

“Our focus will be to continue investments in futuristic solutions and next-generation technologies to deliver the best-in-class services and solutions,” he concluded.

Source: Emirates News Agency