Etisalat’s net profit climbs 6% to reach AED2.4 billion in Q3

Abu Dhabi / Emirates Business

Etisalat group on Wednesday announced its consolidated financial statement for the third quarter of this year ending on September 30.
The company reports six per cent increase in profit to AED2.4 billion in third quarter and said its group’s revenue stood at AED13 billion during period with 149 million subscribers.
In the third quarter, consolidated Ebitda of the group amounted to AED 6.9 billion, representing an increase of 2% year over year and resulting in Ebitda margin of 53%.
In the UAE, the subscriber base reached to 12.1 million, while Etisalat Group aggregate subscribers reached 149 million representing a year on year increase of 1%.
Commenting on the results, Hatem Dowidar, Acting CEO, Etisalat Group & CEO, Etisalat International, said, “Etisalat’s performance in the third quarter exemplifies resilience in these uncertain times and is a testament to the vital role the network played in our customers’ lives, enabling businesses and the society to easily transition to the new normal.
“Thanks to the advanced capabilities of our infrastructure, Etisalat will continue to capture new growth opportunities while remaining focused on addressing the increasing customers’ needs during the pandemic. We have sustained our efforts in realising our vision of ‘Driving the digital future to empower societies’ through these challenging times. The availability and access to the super-fast speeds on 5G fixed networks from homes is a testament to our efforts taken towards this direction,” he said.
“Etisalat will move ahead in its journey of transformation on an accelerated path showing agility by future-proofing its business against challenges and capitalising on opportunities. We will remain focused on our long-term goals while creating incremental business value,” Dowidar added.
As a company, we will continue to digitally transform our business, focusing on innovation in our existing assets by building new capabilities that are digitally enabled and sustainable,” he added.

The acting CEO, Etisalat Group & CEO, Etisalat International further said, “I would like to thank the UAE leadership for their vision and support during this period, inspiring us to pursue our digital ambitions and face the new reality to meet the distinctive needs and expectations of the communities we serve. Etisalat also extends its appreciation to its loyal customers, partners and shareholders for their continued confidence during this period.”