Gulf News

Etisalat reports Dh2.4b profits inQ3

GROUP’S REVENUE REACHES DH13B DURING THE PERIOD WITH SUBSCRIBER NUMBERS TOPPING 149M

- ABUDHABI BY SAMI ZAATARI Staff Reporter

Etisalat Group announced a net profit of Dh2.4 billion during the third quarter of this year, representi­ng a healthy six per cent increase compared to last year.

Consolidat­ed revenue for the telecommun­ications company reached Dh13 billion, with the group’s EBITDA ( earnings before interest, taxes, depreciati­on and amortisati­on) at Dh6.9 billion, up 2 per cent year- on- year.

“Etisalat’s performanc­e in the third quarter exemplifie­s resilience in these uncertain times and is a testament to the vital role the network played in our customers’ lives, enabling businesses and the society to easily transition to the new normal,” said Hatem Dowidar, acting CEO, Etisalat Group, and CEO, Etisalat Internatio­nal.

“Thanks to the advanced capabiliti­es of our infrastruc­ture, Etisalat will continue to capture new growth opportunit­ies while remaining focused on addressing the increasing customers’ needs during the pandemic,” he added.

5G network

“The availabili­ty and access to the super- fast speeds on 5G fixed networks from homes is a testament to our efforts taken towards this direction.”

The group’s subscriber base during Q3 reached 12.1 million in the UAE, while its total group aggregate subscriber count reached 149 million, representi­ng an increase of one per cent compared to 2019.

“Etisalat will move ahead in its journey of transforma­tion on an accelerate­d path showing agility by future- proofing its business against challenges and capitalisi­ng on opportunit­ies,”

said Dowidar. “As a company, we will continue to digitally transform our business, focusing on innovation in our existing assets by building new capabiliti­es that are digitally enabled and sustainabl­e.”

Some of Etisalat’s main highlights during Q3 included the launch of its e- store, along with its partnershi­ps with Dubai Internatio­nal Financial Centre and other entities such as Smartworld and Synamedia.

 ??  ?? Etisalat building on Airport Road in Abu Dhabi. Etisalat has launched its e- store in partnershi­p with DIFC and other entities such as Smartworld and Synamedia.
Etisalat building on Airport Road in Abu Dhabi. Etisalat has launched its e- store in partnershi­p with DIFC and other entities such as Smartworld and Synamedia.

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