Dubai PR Network, Online Press Release from Dubai and Middle East
 
Telecom & Networking(Technology)
Filter PR by
  
Etisalat Group Reports a 6% Increase in Consolidated Net Profit for Q3 2020 to AED 2.4 Billion
 
Abu Dhabi, 22 October 2020:  Etisalat Group today announced its consolidated financial statement for the Q3 2020 ending 30th September 2020.
Q3 Financial Highlights and Key Developments 
 
• Aggregate subscriber base reached 149 million; representing Year over Year increase of 1%.
• In Q3 2020, consolidated revenues reached AED 13.0 billion, while consolidated net profit after Federal Royalty amounted to AED 2.4 billion, an increase of 6% compared to same period last year. 
• In the third quarter, Consolidated EBITDA amounted to AED 6.9 billion, representing an increase of 2% year over year and resulting in EBITDA margin of 53%
• Etisalat subscribers can now access 5G fixed networks for the first time from their homes in UAE
• Etisalat partnered with Ericsson to connect to its charging system and 5G Business Support Systems (BSS) supporting new use cases including IoT, network slicing, AR and VR 
• Etisalat partnered with Smartworld to exclusively bring ‘Shahada’, a tamper proof digital certificate platform for all educational institutions in the region
• Dubai International Financial Centre (DIFC) collaborated with Etisalat to deploy innovative technologies for an advanced telecom infrastructure, high speed internet and superior mobile connectivity
• Etisalat partnered with Synamedia to launch Switch TV, a new direct-to-consumer (D2C) multi-screen service with both free and premium live TV channels, catch-up and on-demand
• Digital Financial Services, a joint venture between Etisalat and Noor Bank announced eWallet’s utility bill payment services
• Etisalat launched e-store, a free website builder part of the Business Edge portfolio for SMB customers to transform their businesses online 
 
Hatem Dowidar, Acting CEO, Etisalat Group & CEO, Etisalat International
 
“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. 
“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. 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. 
“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.”
Q3 – Subscribers
 
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%. 
Q3 – Revenue & Net profit 
 
Etisalat Group’s consolidated revenue for the third quarter of 2020 amounted to AED 13.0 billion, while Consolidated net profit after Federal Royalty amounted to AED 2.4 billion, representing an increase of 6% and resulting in a net profit margin of 18%.
Q3 - EBITDA
 
Consolidated EBITDA amounted to AED 6.9 billion, representing an increase of 2% year over year and resulting in EBITDA margin of 53%.


Posted by : Dubai PR Network Editorial Team
Viewed 5203 times
PR Category : Technology
Posted on : Thursday, October 22, 2020  10:03:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Next Story : Etisalat Extends Partnership with Ericsson to Enable its 5G ...
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
Devika Bulchandani Named CEO of Ogilvy North America & Global Chairwoman of Advertising [4416-Views]
Say Yes to Rejuvenated Skin with Filorga's Anti-Ageing Skincare Regimen [3612-Views]
What You Don't See [2632-Views]
Registrations Now Open for the 3rd Edition of the Dubai Festival City Santa Run [2460-Views]
National Geographic Premieres Virus Hunters: A Chilling Chronicle of the Heroic Experts on... [2374-Views]
Al Tayer Motors Wins Ford Trucks' Champions Award 2019 [2288-Views]
Persil Rewards Aspiring Abaya Designers With Scholarships [2202-Views]
MBRU-LED Genetic Study Reveals Crucial Insights Into Make-up of MRSA Superbug [2050-Views]
Discover Your Perfect Shade of Beige this Autumn/ Winter from Emilia-Romagna [1976-Views]
DHA Approves Saliva for COVID-19 Testing in Children [1870-Views]
UK Ambassador to the UAE Receives Latest Update on Covid-19 Vaccine From SEHA [1865-Views]
UAE Businesses Urged to Follow WHO Legionella Guidelines To Avoid Health Risks [1816-Views]
Invesco Analysis Shows Investors Using Futures for Gold Exposure May Be Overpaying [1800-Views]
Samsung Invites UAE Consumers to Experience the All New Air Dresser at Galeries Lafayette [1722-Views]
Philips World COPD Day Survey Reveals Global Shifts in Awareness and Action Surrounding Re... [1714-Views]
Karl Lagerfeld Introduces a New Style in the Fall-Winter 2020 Eyewear Collection [1714-Views]
Sanctuary Refined: New Lincoln Nautilus Brings Serene Design, Elevated Technology to Midsi... [1710-Views]
IATA Travel Pass Key to Reopening Borders Safely [1660-Views]
AquaChemie Breaks Ground on $40 M Petrochemical Terminal at Jebel Ali Port [1648-Views]
Dubai Health Authority Launches a New Stand-alone Laboratory Facility [1603-Views]
"Be Flawless" for the Perfect Complexion [1587-Views]
3 Day Super Sale Offers Up to 90 Percent Off Big Name Brands [1558-Views]
Emiratis Al Hassani and Al Zeyoudi Bag Men's Honours at Al Marmoom Dune Run [1546-Views]
Millions of Lung Cancer Patients See Gene Therapy and Immunotherapy Medical Innovations as... [1537-Views]
Preliminary Camel Race for the National Day Camel Marathon kick-off on Friday, 27 Nov [1537-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories