Search DubaiPRNetwork.com

Home >> Technology

Etisalat Group Reports a 3% increase in consolidated revenues for the first nine months of 2018 to AED 39.4 billion

Thursday, October 25, 2018/ Editor -  

Share

Home >> Technology

Abu Dhabi, 25 October 2018:  –  Etisalat Group today announced its consolidated financial statement for the nine months ending 30 th  September 2018.

Financial Highlights and Key Developments 

  • Nine month consolidated revenues reached to AED 39.4 billion, an increase of 3% compared to same period last year. 
  • Nine month consolidated net profit after Federal Royalty amounted to AED 6.6 billion an increase of 2% compared to same period last year. 
  • Aggregate subscriber base reached 144 million; representing Year over Year increase of 3%.
  • Etisalat Group was granted the approval of the Securities and Commodities Authority on the share buyback program.
  • Etisalat Group’s board of directors recommends lifting restrictions on foreign shareholders voting rights.
  • Etisalat Misr and Telecom Egypt signed the first MoU for virtual fixed voice services.
  • Etisalat Misr launched Egypt's First Voice Over LTE (VoLTE) services.
  • Expo 2020 Dubai becomes first 5G major commercial customer in MEASA through partnership with Etisalat.
  • Etisalat launched innovation program ‘Future Now’ featuring a scale-up program, co-creation lab, innovation center & IoT ecosystem.
  • Etisalat partners with UAE Paralympics at Asian Para Games.
  • Etisalat brings iPhone XS, iPhone XS Max, Apple Watch Series 4 (GPS + Cellular) to UAE.
  • Etisalat introduces free ‘Talking Bill’ service for People of Determination.
  • Etisalat launches first ‘Annual Add-on’ data packs in the UAE
  • Microsoft and Etisalat UAE to bring GCC’s first mobile carrier payment option to Xbox gamers.

CEO’s Message:
 
Eng. Saleh Abdullah Al Abdooli, CEO, Etisalat Group said: “Etisalat Group continues to deliver a solid performance in the third quarter thanks to our continued focus and effort in the digitalisation of services and solutions. As we move into the 5G era, our network and talented teams are well equipped to lead the ever-changing requirements of our consumers and the telecom industry. 

“In keeping the momentum of our success and focusing on adding value to our customers and shareholders, we remain committed to bring innovative solutions and provide value propositions for the digital age. Our efforts have helped build a dynamic ecosystem that will drive future growth and pave the way for our digital ambitions and implementation of futuristic technologies.

“Etisalat is confidently moving forward and progressing positively in enabling societies across its operations. We will continue to focus on creating innovative services, capitalizing on opportunities for new revenue streams and enhancing overall customer experience while delivering long-term value for all our stakeholders.”

“Etisalat is thankful to the vision of the wise leadership of UAE in positioning the country among the most digitally advanced globally, inspiring us to deliver world class networks and innovative services. We also extend appreciation to our shareholders and loyal customers, to whom we owe more success and greater achievements.”

Q3 - Subscribers

In the UAE, the subscriber base reached to 12.5 million subscribers, while Etisalat Group aggregate subscribers reached 144 million subscribers representing a year on year increase of 3%. 

Q3 – Revenue & Net profit 

Etisalat Group’s consolidated revenue for the third quarter of 2018 amounted to AED 13.2 billion with growth of 2% in comparison to the same period last year,  Consolidated net profit after Federal Royalty amounted to AED 2.3 billion resulting in a net profit margin of 17% .


Previous in Technology

Next in Technology


Home >> Technology Section

Latest Press Release

Ibn Battuta Mall hosts Pink Caravan clinic to raise awareness about breast cance ...

Ras Al Khaimah Ruler to present inaugural Sheikh Saud bin Saqr Al Qasimi Interna ...

Splash launches Adaptive Collection for People of Determination

Key Trends of Spring/Summer 2019 and How to Wear Them

Lucky Number Five for UAE In FEI Longines Jumping Nations Cup™ Draw

Procter & Gamble Announces Newest Commitment to Gender Equality Across the India ...

The Beard Gear Company

Ignite Your Senses This Season with the Luxurious Maisey Candles Collection, Ava ...

Improving Location Settings on Android

World's youngest pilot, 7-year-old Nasser, will represent UAE at Dubai Masters

Chief Justice of DIFC Courts reviews DLD procedures

IATA Releases 2018 Airline Safety Performance

TuttoFood Dubai: An Evening Celebrating Italian Cuisine

Dubai Hospital raises awareness of Childhood Cancers

Ayushmann Khurrana receives the ‘Best Actor Critics' award from Arjun Dhanak at ...

Director of Dubai Customs orders further control measures at Cargo Village Custo ...

Barij Munitions signs a Memorandum of Understanding with Emirates Steel at IDEX2 ...

Free breast cancer screening at Marina Mall Abu Dhabi

India's Tea Valley forays into ME region

du Offers Galaxy of Benefits with Samsung Galaxy S10