Abu Dhabi, 23rd October 2019: Etisalat Group today announced its consolidated financial statement for the nine months ending 30th September 2019.
Financial Highlights and Key Developments
• Aggregate subscriber base reached 148 million; representing Year over Year increase of 5%.
• Nine month consolidated revenues reached to AED 38.8 billion, while consolidated net profit after Federal Royalty for the Nine month amounted to AED 6.7 billion an increase of 2.1% compared to same period last year.
• Nine month Consolidated EBITDA amounted to AED 20.1 billion, representing an increase of 2% year over year and resulting in EBITDA margin of 52%.
• Etisalat signed a binding agreement to acquire Help AG, one of the regional leaders in Cyber Security solutions in the UAE and KSA
• Etisalat Digital and Microsoft partner to deliver intelligent cloud solutions for its enterprise customers
• Etisalat named ‘Best Regional Wholesale Carrier' by Telecoms World Middle East
• Etisalat Launches MENA's first 5G roaming agreement.
• Etisalat makes 5G connectivity available in the world's tallest and iconic tower ‘Burj Khalifa'
• Etisalat Academy is now GCC's first accredited Service Automation Framework (SAF) Training Centre
Eng. Saleh Abdullah Al Abdooli, CEO, Etisalat Group said: “Etisalat's performance in the third quarter demonstrates our agility in adapting to the rapid changes in the telecom industry; we have channelled our efforts towards leading the digital transformation with the successful roll out of 5G networks while equipping our operations with the next generation of technologies like AI and robotics.
“Thanks to our strategy of ‘Driving the digital future to empower societies' paving the way to achieve our digital ambitions. As we move into the 5G era, it has opened a world of opportunities enabling the deployment of innovative solutions and services across different sectors which will accelerate digital growth, drive efficiencies, and enrich the overall customer experience.
“With continuous collaboration with our partners in the public and private domains, we are well geared to deliver 5G innovative solutions that will alter and reshape our society and industry on a large scale. Our investments in Etisalat's infrastructure and human capabilities have given us confidence moving forward to achieve our strategic goals to meet the current and future needs of our customers across our operations.”
“Etisalat is thankful to the vision and support of the wise leadership of the UAE in inspiring us to deliver world-class networks and innovative services. We also extend appreciation to our shareholders and loyal customers who are at the heart of everything we do.”
In the UAE, the subscriber base reached to 12.4 million subscribers, while Etisalat Group aggregate subscribers reached 148 million subscribers representing a year on year increase of 5%.
Q2 – Revenue & Net profit
Etisalat Group's consolidated revenue for the third quarter of 2019 amounted to AED 13.0 billion, while Consolidated net profit after Federal Royalty amounted to AED 2.3 billion resulting in a net profit margin of 18%.
Q3 - EBITDA
Consolidated EBITDA totaled AED 6.8 billion, representing an increase of 3% year over year and resulting in EBITDA margin of 52%.