Etisalat revenue grows 5 percent to reach AED13.1 billion in Q1

Abu Dhabi / Emirates Business

Etisalat Group on Tuesday announced its consolidated financial statements for the three months ending March 31.
Etisalat Group announced that consolidated revenues in Q1 amounted to AED 13.1 billion, representing an increase of 5 percent year over year.
In the UAE, the revenue of the company in first quarter increased year on year by 3% to AED 7.8 billion.
The company’s consolidated EBITDA totaled AED 6.5 billion, representing an increase of 2% year over year and resulting in EBITDA margin of 49%.
Consolidated net profit of the company after federal royalty amounted to AED 2.1 billion resulting in a net profit margin of 16 percent.
Etisalat has partnered with key industry peers to form the Global Telco Security Alliance, which offers Enterprises a world-class cyber security service across a global footprint.
Etisalat’s data centres acquire PCI/DSS certification guaranteeing maximum safety of customer data at all times.
The Abu Dhabi-based telecom company received the prestigious TL9000 certification, an International Quality Standard for the telecom industry. Etisalat has launched ‘Hello Business Hub’ in UAE, a one-stop place for all start-ups and SMBs.
The company also launched two new challenges with Dubai Future Accelerators, focusing on Digital Customer Care and Transformation of Visitors’ Experience using Artificial Intelligence and Augmented/Virtual reality.
Etisalat and Microsoft formed a strategic partnership to deliver the comprehensive and trusted Microsoft Cloud from their first datacentre located in the Middle East.
UAE Ministry of Interior signed an agreement with Etisalat to link Emirati homes and establishments to a fire alarm system connected to the civil defence control room.
In a statement, the Group said that its aggregate subscriber base reached 144 million, representing a year over year increase of 3%, while in the UAE the subscriber base grew to 12.9 million subscribers in Q1 of 2018 representing a year on year growth of 3%.
Eng. Saleh Al Abdooli, Etisalat Group CEO said: “Etisalat’s first quarter results are a continuation of previous quarters’ solid performance, and a promising start for the current year, alluding positive prospects for both customers and shareholders.”
“As we continue to encounter evolving industry dynamics, innovation and successful partnerships remain relevant and integral in sustaining our leading market position and assuring our profitability. Engaging the customers and allowing them to experience and probe our solutions potential has proven to be rewarding as we expand our products and services portfolio and introduce more value adding choices,” Al Abdooli said.
“Adoption of cutting edge technologies is a strategic imperative that will always be a cornerstone in etisalat agenda, and while we operate in multiple markets with varying levels of technological maturity, our home market remains a driving force; as we witness the government adopting futuristic technologies, like AI and Blockchain, and leading the digital transformation of the society as a whole,” added Al Abdooli.
“Etisalat has continued its efforts to align its business with its digital initiatives which has enabled us to develop a healthy business portfolio. Moving forward, we will stay focused on realizing our strategic and operational goals and on materializing our digital transformation. We will continue to push technological boundaries and tap on non-traditional revenue streams that will augment our core services revenues and maximize the return on investment of our networks and platforms,” concluded the Etisalat Group CEO.