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ABU DHABI / Emirates Business
Etisalat Group on Wednesday announced its consolidated financial statement for the three months ending on September 30, 2017.
The company’s consolidated net profit after Federal Royalty amounted to AED 2.4 billion, resulting in a net profit margin of 19% and increased year over year by 29%. The group consolidated revenues amounted to AED 12.9 billion, while Etisalat UAE revenues amounted to AED 7.6 billion representing 3% increase year over year.
Etisalat UAE net profit amounted to AED 2.0 billion representing 4% increase year over year, and aggregate subscriber base reached 140 million. In the UAE, subscriber base reached 12.5 million representing Year over Year increase of 2%.
Saleh Al Abdooli, Etisalat Group CEO said: Etisalat continues to deliver solid performance in the third quarter, despite the prevailing global economic challenges and the vastly transforming industry. We are on the verge of entering a new era, which transcends any technological disruption we ever witnessed, and will be altering and reshaping our society and industry on a large scale.â€
“We always strive to remain one-step ahead and to harness the power of technology for the greater value of our customers and communities. Our digital agenda has enabled us to enhance our internal operations and widened the spectrum of our offerings. It remains the key driving force while we are probing the potential that emergent streams, as in Robotics and Artificial Intelligence, can bring to us.â€
Etisalat signed a strategic partnership as part of Dubai Future Accelerators program to bring future medical care solutions to UAE and MENA. It also launches first IPX Exchange platform in MEA, which will augment its already existing SmartHub data center services. Etisalat successfully completes the fastest 5G live trial globally reaching 71Gbps.
“Within the overall scheme of things, innovation remains at the core of our priorities, we believe in nurturing open innovation and in developing a favourable ecosystem through successful collaborations and targeted investments in future technologies. We are adam-ant when it comes to our innovation leadership and utilizing it in delivering smarter solutions and adding value to our customers and shareholders. Etisalat is confidently moving forward and progressing positively in enriching lives and enabling societies across its footprint,†Al Abdooli said.