Etisalat net profit grew to AED 2.1 billion in first quarter of 2017
Etisalat Group has announced its consolidated financial statements for the three months ending 31st March 2017.
Financial Highlights and Key Developments of Q1
• Consolidated net profit after Federal Royalty amounted to AED 2.1 billion resulting in a net profit margin of 17% and increased year over year by 5%.
• Aggregate subscriber base reached 159 million.
• Consolidated EBITDA totaled AED 6.4 billion and resulting in EBITDA margin of 51%.
• Consolidated revenues amounted to AED 12.5 billion.
• Etisalat introduces ‘Create Your Number’ service for all post-paid subscribers first time in the UAE
• Etisalat ‘first telco in UAE’ to achieve ISO 20000 certification
• Etisalat named most valuable Telecoms Brand Portfolio in the Middle East by ‘Brand Finance’
• Etisalat Receives Tier III Gold Certification for Operational Sustainability
• E-Vision Partners with MBC GROUP in Exclusive IPTV/OTT Channel Distribution Rights deal in the UAE
Eng. Saleh Al Abdooli, Etisalat Group CEO said: “Etisalat has delivered a strong performance in the first quarter, a reflection of its strategy demonstrating Group’s ability to sustain momentum in spite of vastly changing global industry trends.
The Digital Evolution is the future, and the telecom operators are the key players to enable the transition and be the exemplary adopters of the digital transformation, while harvesting its benefits in the form of improved products and services, faster time to market, enhanced customers’ experience, and enriched smart living.
Stemming from this conviction, Etisalat has continued its efforts to align its business with the digital mandate it undertaken, by shifting the operating model, investing in future technologies, and by acquiring and disseminating digital capabilities across its operations.
This would allow Etisalat Group to generate new revenue streams, enrich its business, and provide unique and innovative propositions that would exceed the expectations of customers and support governments and enterprises in building smarter communities.
We are proud to be one of the most valuable telecom brands in the Middle East, and we are comfortable with the achievements and synergies
that were attained at the group scale, we see positive prospects across the majority of the markets we operate in that we are determined to capture and seize.
As a group, we remain focused on maximizing shareholders’ value, and on our customers who inspire us to explore new arenas and cross new heights.”
- Aggregate subscriber base reached 159 million.
- In the UAE the active subscriber base grew to 12.5 million subscribers in the first quarter of 2017 representing a year on year growth of 4%
- Maroc Telecom subscriber base reached 54.5 million customers, representing a year over year growth of 3%.
- Etisalat Group’s consolidated revenue for the first quarter of 2017 amounted to AED 12.5 Billion.
- In the UAE, revenue in the first quarter increased year on year by 5% to AED 7.6 billion.
- Maroc Telecom consolidated revenue for the first quarter of 2017 amounted to AED 3.0 billion.
- Consolidated net profit after Federal Royalty amounted to AED 2.1 billion resulting in a net profit margin of 17% and increased year over year by 5%.
- Earnings per share (EPS) amounted to AED 0.24 in the first quarter of 2017 representing an increase of 5% from the same period of last year.
- In the UAE, EBITDA in the first quarter of 2017 was AED 4.1 billion increasing year-over-year by 6% leading to an EBITDA margin of 54%.
- Maroc Telecom’s consolidated EBITDA for the first quarter of 2017 amounted to AED 1.5 billion, resulting in EBITDA margin of 52%.