Etisalat’s consolidated net profits in Q1 after federal royalty amounted to AED 2.1 billion($ 571 million) resulting in a net profit margin of 17% and an increase of 5% YoY.
Consolidated revenues amounted to AED 12.5 billion ($3.4 billion), while aggregate subscriber base reached 159 million. In the UAE, revenue in the first quarter increased YoY by 5% to AED 7.6 billion ($ 2 billion), while the active subscriber base grew to 12.5 million subscribers representing a growth of 4% YoY.
Maroc Telecom’s consolidated revenue for Q1 amounted to AED 3.0 billion ($816 million) and subscriber base reached 54.5 million customers (+ 3% YoY).
“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,” said Eng. Saleh Al Abdooli, Etisalat Group CEO.
“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,” he added.
Etisalat was recently named the most valuable telecoms brand portfolio in the Middle East by ‘Brand Finance’.