Etisalat Group Reports net profit of AED 2.4 billion for Q3 2017, an increase of 29% compared to last year

Abu Dhabi, 25 October 2017:  Etisalat Group today announced its consolidated financial statement for the three months ending 30th September 2017.

Financial Highlights and Key Developments of Q3

• Consolidated net profit after Federal Royalty amounted to AED 2.4 billion resulting in a net profit margin of 19% and increased year over year by 29%.
• Group consolidated revenues amounted to AED 12.9 billion. Etisalat UAE Revenues amounted to AED 7.6 billion representing 3% increase year over year.
• Etisalat UAE net profit amounted to AED 2.0 billion representing 4% increase year over year.
• Aggregate subscriber base reached 140 million. In the UAE Subscriber base reached 12.5 million representing Year over Year increase of 2%
• Etisalat signed a strategic partnership as part of Dubai Future Accelerators program to bring future medical care solutions to UAE and MENA
• Etisalat launches first IPX Exchange platform in MEA, which will augment its already existing SmartHub data center services.
• Etisalat successfully completes the fastest 5G live trial globally reaching 71Gbps
• Etisalat Launched 4G service in Egypt
• Etisalat launched new brand targeting the youth in UAE
• Etisalat wins ‘Best Operator’ award from ‘Telecoms World Middle East 2017’
• Etisalat selected as the digital transformation partner for Dubai International Financial Center (DIFC)’s FinTech accelerator program.
• Etisalat launches M2M in-vehicle WiFi enabling connected fleets businesses. 

CEO’s Message:
Saleh Al Abdooli, Etisalat Group CEO said: Etisalat continues to deliver solid performance in the third quarter, despite the prevailing global economic challenges and the vastly transforming industry. We are on the verge of entering a new era, which transcends any technological disruption we ever witnessed, and will be altering and reshaping our society and industry on a large scale.

We always strive to remain one-step ahead and to harness the power of technology for the greater value of our customers and communities. Our digital agenda has enabled us to enhance our internal operations and widened the spectrum of our offerings. It remains the key driving force while we are probing the potential that emergent streams, as in Robotics and Artificial Intelligence, can bring to us.

Within the overall scheme of things, innovation remains at the core of our priorities, we believe in nurturing open innovation and in developing a favourable 
ecosystem through successful collaborations and targeted investments in future technologies. We are adamant when it comes to our innovation leadership and utilizing it in delivering smarter solutions and adding value to our customers and shareholders.

Etisalat is confidently moving forward and progressing positively in enriching lives and enabling societies across its footprint. As a group, we will always assure a vigorous portfolio that is generating synergy, focusing on customer experience, growing value, and operating as one family.

As we look back at our achievements, we sense and honor the great support that was extended to us by the wise leadership of the UAE, who did not only enable the creation of a world class telecom sector, but are also leading the way and acting as role models in technology adoption. Appreciation is also extended to our shareholders and loyal customer, to whom we owe more success and greater achievements.

Subscribers
Etisalat UAE Subscriber base reached 12.5 million representing Year over Year increase of 2 % 

Revenue
Etisalat UAE Revenues amounted to AED 7.6 billion representing Year over Year increase of 3 %

Net Profit
Etisalat UAE net profit amounted to AED 2.0 billion representing 4 % increase year over year.

EBITDA
Etisalat UAE EBITDA for Q3 totalled AED 4.1 billion representing 1% increase year over year and resulting in EBITDA margin of 54%.