Etisalat Group's net profits for Q3 soar 29% YoY

Etisalat UAE's net profit stands at $540 million representing 4% increase YoY
"We are adamant when it comes to our innovation leadership," says Al Abdooli.
"We are adamant when it comes to our innovation leadership," says Al Abdooli.

Share

Etisalat Group has reported a 29% increase in its net profit (after Federal Royalty) for Q3, 2017. Consolidated net profit stood at AED 2.4 billion ($650 million) resulting in a net profit margin of 19%. Group consolidated revenues amounted to AED 12.9 billion ($3.5 billion).

Etisalat UAE revenues amounted to AED 7.6 billion ($2.07 billion) representing 3% increase YoY. Its net profits for Q3 increased 4% YoY to stand at AED 2.0 billion ($540 million). EBITDA totalled AED 4.1 billion ($1.1 billion) representing 1% increase YoY and resulting in EBITDA margin of 54%.

Aggregate subscriber base reached 140 million. The UAE subscriber base increased 2% YoY to reach 12.5 million.

Saleh Al Abdooli, Etisalat Group CEO said: “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. 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. We are adamant when it comes to our innovation leadership and utilising it in delivering smarter solutions and adding value to our customers and shareholders.”

Among the group’s highlights for the Q3 was Etisalat signing a strategic partnership as part of Dubai Future Accelerators program to bring future medical care solutions to the region. Etisalat also launched the first IPX Exchange platform in MEA. In yet another interesting turn of events, Etisalat launched a new brand targeting the youth in UAE- swyp.

At GITEX 2017, Etisalat completed the fastest 5G live trial globally reaching 71Gbps.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story