Etisalat shows COVID-19 immunity with Dh4.6b in first-half 2020 net profit

Abu Dhabi: The Etisalat Group had net profits of Dh4.6 billion for the first-half of 2020, with the numbers showing immunity that swept other businesses in the country. The telecom giant pulled out a 3 per cent growth year-on-year.

It had consolidated revenues of Dh25.6 billion, with consolidated EBITDA (earnings before interest, taxes, depreciation and amortisation) totalling Dh13.2 billion.

“Etisalat delivered a good performance considering the circumstances – the world is voyaging through unchartered waters and COVID-19 has affected all industries, including telecom ,” said Obaid Humaid Al Tayer, Chairman, in a statement. “Etisalat managed to respond and demonstrate resilience as we ensured the delivery of uninterrupted services to our customers.”

Al Tayer said Etisalat remained firmly committed towards providing more digital services for its customer base, with the recent pandemic highlighting the need. “The unconventional conditions have spurred the adoption of digital services, bridging a divide by changing customers’ behaviour towards digital channels,” he said.

“Etisalat’s innovative solutions have catered to the social distancing era, it has enabled remote working and education, and it minimised human interactions and increased the pace of automation. Our infrastructure has accommodated the surge in requirements and is ready for more acceleration in digital adoption.”

Etisalat said the group’s board approved an interim dividend of 15 fils per share for the second quarter, bringing interim dividend for first six months to 40 fils per share.