Dubai PR Network, Online Press Release from Dubai and Middle East
 
Telecom & Networking(Technology)
Filter PR by
  
Etisalat Group Reports a 2.1 % increase in consolidated Net Profit for the first nine months of 2019 to AED 6.7 billion
 
Abu Dhabi, 23rd  October 2019:   Etisalat Group today announced its consolidated financial statement for the nine months ending 30th September 2019.
Financial Highlights and Key Developments 
 
• Aggregate subscriber base reached 148 million; representing Year over Year increase of 5%.
• Nine month consolidated revenues reached to AED 38.8 billion, while consolidated net profit after Federal Royalty for the Nine month amounted to AED 6.7 billion an increase of 2.1% compared to same period last year. 
• Nine month Consolidated EBITDA amounted to AED 20.1 billion, representing an increase of 2% year over year and resulting in EBITDA margin of 52%.
• Etisalat signed a binding agreement to acquire Help AG, one of the regional leaders in Cyber Security solutions  in the UAE and KSA
 
• Etisalat Digital and  Microsoft partner to deliver intelligent cloud solutions for its enterprise customers 
• Etisalat named ‘Best Regional Wholesale Carrier’ by Telecoms World Middle East
• Etisalat Launches MENA’s first 5G roaming agreement. 
• Etisalat makes 5G connectivity available in the world’s tallest and iconic tower ‘Burj Khalifa’
• Etisalat Academy is now GCC’s first accredited Service Automation Framework (SAF) Training Centre 
CEO’s Message:
 
Eng. Saleh Abdullah Al Abdooli, CEO, Etisalat Group said: “Etisalat’s performance in the third quarter demonstrates our agility in adapting to the rapid changes in the telecom industry; we have channelled our efforts towards leading the digital transformation with the successful roll out of 5G networks while equipping our operations with the next generation of technologies like AI and robotics.
 
“Thanks to our strategy of ‘Driving the digital future to empower societies’ paving the way to achieve our digital ambitions. As we move into the 5G era, it has opened a world of opportunities enabling the deployment of innovative solutions and services across different sectors which will accelerate digital growth, drive efficiencies, and enrich the overall customer experience. 
 
“With continuous collaboration with our partners in the public and private domains, we are well geared to deliver 5G innovative solutions that will alter and reshape our society and industry on a large scale. Our investments in Etisalat’s infrastructure and human capabilities have given us confidence moving forward to achieve our strategic goals to meet the current and future needs of our customers across our operations.”
 
“Etisalat is thankful to the vision and support of the wise leadership of the UAE in inspiring us to deliver world-class networks and innovative services. We also extend appreciation to our shareholders and loyal customers who are at the heart of everything we do.”
 
 
Q1- Subscribers
 
In the UAE, the subscriber base reached to 12.4 million subscribers, while Etisalat Group aggregate subscribers reached 148 million subscribers representing a year on year increase of 5%. 
 
 
Q2 – Revenue & Net profit 
 
Etisalat Group’s consolidated revenue for the third quarter of 2019 amounted to AED 13.0 billion, while Consolidated net profit after Federal Royalty amounted to AED 2.3 billion resulting in a net profit margin of 18%.
 
 
Q3 - EBITDA
 
Consolidated EBITDA totaled AED 6.8 billion, representing an increase of 3% year over year and resulting in EBITDA margin of 52%.


Posted by : Dubai PR Network Editorial Team
Viewed 7381 times
PR Category : Technology
Posted on : Wednesday, October 23, 2019  2:36:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Etisalat Digital and DMCC partner to transform Dubai's JLT t...
Next Story : Cartoon Network Middle East launches Global ‘Buddy Network' ...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Parmigiani Fleurier Launches New Tonda Reine De Mai [4079-Views]
Make Up for Ever is Breaking Through With a Lipstick Revolution With Rouge Artist [4075-Views]
Prevention is Better than Cure, Especially with Lice! [3251-Views]
Dubai Chamber Whitepaper Examines Growth Potential of UAE Space Economy [3087-Views]
Euronews Investigates How the UAE is Using Artificial Intelligence in Healthcare and Educa... [2726-Views]
Medcare Partners with InterSystems to Implement World-Class Healthcare Information System [2702-Views]
#TishTashThru - Welcome to the Future, in the Form of a Gloriously Retro Drive Thru Event ... [2669-Views]
WCU: Saudis Talk Up Oil; Strong Grain Momentum Continues [2501-Views]
Ulissi to Lead UAE Team Emirates at the Tour of Luxembourg [2489-Views]
World Gold Council and its Members Highlight Commitment to Sustainable Development Goals ... [2431-Views]
Dubai Health Authority and Dubai Healthcare City Authority Sign MoU to Strengthen Partners... [2308-Views]
Kantar to Launch the First BrandZ Top 30 Most Valuable Emirati and Saudi Brands [2292-Views]
Iba Cosmetics Launches in the Middle East [2247-Views]
Sony Middle East & Africa Introduces Alpha 7C Camera and the Zoom Lens, the World's Smalle... [2070-Views]
OPPO Set to Launch Its All-New Groundbreaking Reno4 Series in the Middle East this Month [2050-Views]
Pasha de Cartier - ITW w/Ambassadors [1997-Views]
Ferrari Portofino M: A Voyage of Rediscovery [1968-Views]
Danube Home Launches Its All New “My Garden 2021” E-Catalogue! [1890-Views]
Aspiring Novelists Take Note: The Emirates Litfest Writing Prize is Now Open for 2021 [1755-Views]
5 Simple Ways to Amp Up Your Denim Game for Under AED 100 [1755-Views]
Mobily Trial 5G on 800/1800MHz Band using Ericsson Spectrum Sharing in Saudi Arabia [1751-Views]
Updates to HarmonyOS 2.0, EMUI 11 and HMS will Empower Smarter All-Scenario Experiences [1714-Views]
Dubai Culture Reveals Children's Wishes in ‘My Library & Expo' Time Capsule [1714-Views]
Philips Launches New Innovations to Help People Stay on Top of Their Health [1710-Views]
Cebu Pacific Issues Refund Statement [1697-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories