Etisalat’s group-wide revenues rise over 2% to Dh13.2b

Telecom operator’s profits hit Dh2.3b, with UAE subscriber numbers at 12.5m

The Etisalat Group’s consolidated revenues for the third quarter gained more than 2 per cent, to Dh13.2 billion, compared to Dh12.9 billion a year ago. But the telecom operator said in its Abu Dhabi Securities Exchange filing that profits had dipped by 4.16 per cent to Dh2.3 billion, compared to Dh2.4 billion a year ago, due to higher operating expenses.

“Etisalat Group continues to deliver a solid performance in the third-quarter, due to our focus and effort in the digitalisation of services and solutions,” said Saleh Abdullah Al Abdooli, CEO of Etisalat Group.

The Abu Dhabi-based telco’s operating expenses were up 6.21 per cent to Dh8.54 billion, compared to Dh8.04 billion a year ago. Given the economic pressures and market situation, Etisalat has reported a strong performance with a net growth in revenues, said Sukhdev Singh, executive director of market research and advisory firm Kantar AMRB.

However, he added that it might be difficult for any operator in the region to maintain such a growth over the next quarter or so.

“The fixed-line services have seen good growth and have potential for more, as people move to higher internet speeds at home, driven by increasing consumption of online streaming,” he said.

Etisalat, which operates in 16 countries, reported a 2 per cent increase in its nine-month profits, to Dh6.6 billion, compared to Dh6.44 billion a year ago. Revenues increased 3 per cent to Dh39.4 billion from Dh39.18 billion.

In the UAE, its subscriber base is 12.5 million compared to 12.7 million in last quarter.

Increase in telecom operator’s operating expenses