Telecom leader Etisalat Group posted on Tuesday a five per cent surge in consolidated net profit to Dh2.2 billion in first quarter of 2019 as its aggregate subscriber base reached 143 million.
dubai — Telecom leader Etisalat Group posted on Tuesday a five per cent surge in consolidated net profit to Dh2.2 billion in first quarter of 2019 as its aggregate subscriber base reached 143 million, representing a year over year increase of two per cent.
In a statement, the telecom major said consolidated revenues reached Dh13 billion while consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) totalled Dh6.6 billion, representing an increase of two per cent year over year and resulting in EBITDA margin of 51 per cent.
Saleh Abdullah Al Abdooli, Etisalat Group CEO, said the company’s solid performance of the first quarter is a promising start for 2019, and a testimony to the efforts in realising its vision and ambitions toward “driving the digital future to empower societies”. “Etisalat achieved the most valuable telecom brand in the Mena region, yet another significant milestone attributed to our digital efforts. Etisalat infrastructure continues to play a key role in our goal to bring-in full scale digital transformation. The consistent efforts and investment in our network has helped position the UAE as a global leader in “Fiber to the Home” penetration among all its international counterparts for a third year in a row,” said Al Abdooli.
He said Etisalat would continue its endeavour towards network modernisation and investment in future technologies such IoT and AI powered by pioneering deployment of 5G network which will enable the company to address its growing customer and business aspirations with innovative services and solutions.
“We are confident that 5G will bring a wealth of opportunities in the socio-economic development of the UAE,” he said.
In the UAE, Etisalat’s subscriber base reached 12.6 million subscribers in first quarter. Earnings per share amounted to Dh0.25 in the first quarter of 2019; a five per cent increase from the same period last year.
We are confident that 5G will bring a wealth of opportunities in the socio-economic development of the UAE
Saleh Abdullah Al Abdooli, Etisalat Group CEO