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 10766 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.
Previous Story : du Announces the Launch of Two New Facilities to Support UAE...
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
Al Ansari Exchange sees surge in non-resident transactions in first 10 days of Expo 2020 [23788-Views]
Big Crown ProPilot Big Date Bronze- Flair Time [10377-Views]
Pandora Introduces New Limited-Edition Charm in Support of Unicef [8692-Views]
TURKEY'S Rumeysa Gelgi is warded GUINNESS WORLD RECORDS™ Title for Tallest Woman Living wi... [8651-Views]
LG Releases Preliminary Earnings For Third-Quarter 2021 [8159-Views]
Wash Day Essentials: The Only Collection You'll Need for Perfect Curls [6544-Views]
New Program for Saudi Arabia Healthcare Professionals Targets Healthcare Management in Qat... [4982-Views]
TCS Saudi Arabia Wins World Leadership Congress Award [4629-Views]
OMEGA Reveals the Secret of James Bond's Watch [4551-Views]
Ixora Organic Beauty Continues Its Fight for Health With Its Latest Breast Cancer Awarenes... [4137-Views]
Malabar Gold & Diamonds Signs Up Superstar Karthi as Brand Ambassador in Tamil Nadu [3879-Views]
Oblique Creations Showcases the A/W 21 Collection in Dubai [3846-Views]
Jaguar Land Rover Trials World-first Digital Supply Chain for Leather Using Blockchain Tec... [3624-Views]
Germany Lifts Travel Restrictions for GCC Travellers [3522-Views]
KENZO Sport Collection [3415-Views]
Leading Cloud Managed Service Provider G7 CR Technologies to Launch STAB Program for ISVs ... [3354-Views]
Ministry of Health to Showcase State-of-the-Art Digital Health Services at GITEX Technolog... [3350-Views]
Expo 2020 Opens a New Era for Dubai's Tourism Industry [3337-Views]
Etihad Raises US$1.2 Billion in First Sustainability-Linked ESG Loan in Global Aviation [3317-Views]
Hitachi Energy goes Live [3317-Views]
Toric Hemispheres Retrograde Steel Blue The Distinguished Traveler [3292-Views]
International Protein (UAE), Anda Burada (Turkey) & Shadana Yoga and SunBox from Palestine... [3280-Views]
UAE to Form Women's World Tour Team Exciting Project Set to Launch for 2022 [3223-Views]
Story of Hope: UAE Resident Shares the Importance of Early Detection this Breast Cancer Aw... [3157-Views]
Award-Winning Director Joe Wright Partners with Samsung to Unveil a New Film Captured on G... [3153-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Top Sections
 
Top Stories