Etisalat Group reports consolidated Net Profit of AED 2.2 billion in Q1 2019

Etisalat Group today announced its consolidated financial statements for the three months ending 31^st March 2019.

• Aggregate subscriber base reached 143 million, representing a year over year increase of 2%.
• Consolidated revenues amounted to AED 13.0 billion and consolidated net profit after Federal Royalty amounted to AED 2.2 billion representing a year over year increase of 5% and resulting in a net profit margin of 17%.
• Consolidated EBITDA totaled AED 6.6 billion, representing an increase of 2% year over year and resulting in EBITDA margin of 51%.
• Etisalat achieved ‘The Most Valuable Telecoms Brand’  in MENA by Brand Finance.
• UAE is ranked as a global leader in Fiber to the Home (FTTH) penetration for a third year in a row, according to the leading industry body FTTH Council
• Etisalat’s innovation programme ‘Future Now’ signed agreements with four scaleups to develop Artificial Intelligence and Blockchain solutions.
• Etisalat collaborates with ‘Abu Dhabi Smart Solutions and Services Authority’ to digitise government services through its platform ‘TAMM’.
• Etisalat unveiled Robotic Centre of Excellence to deliver automated solutions for greater customer satisfaction.
• Etisalat launched the first Cloud Gaming service to deliver high-quality (1080p) cloud-based games directly to TV sets from a set-top box.

Eng. Saleh Abdullah Al Abdooli, Etisalat Group CEO said: “Etisalat’s solid performance of the first quarter is a promising start for 2019, an extension for our achievements of last year, and a testimony to the efforts in realising our 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 FTTH penetration among all its international counterparts for a third year in a row”.

“Etisalat will continue its endeavour towards network modernisation and investment in future technologies such IoT and AI powered by our 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.

Etisalat is also thankful to the vision of our wise leadership in the UAE in positioning the country among the most digitally advanced globally, inspiring us to deliver world-class networks and innovative services. We extend appreciation to our shareholders and loyal customers, to whom we owe more success and greater achievements.”

• In the UAE the subscriber base reached 12.6 million subscribers in Q1 of 2019, while Aggregate subscriber base reached 143 million, representing a year over year increase of 2%

• Consolidated revenues amounted to AED 13.0 billion and consolidated net profit after Federal Royalty amounted to AED 2.2 billion representing a year over year increase of 5% and resulting in a net profit margin of 17%.

• Group Consolidated EBITDA for the first quarter of 2019 increased by 2% to AED 6.6 billion while EBITDA margin increased 1 point to 51% year on year.

Earnings per share (EPS) amounted to AED 0.25 in the first quarter of 2019; a 5% increase from the same period last year.