Etisalat reports six per cent increase in profit to Dh2.4 billion in third quarter

Abu Dhabi: Etisalat Group announced a net profit of Dh2.4 billion during the third quarter of this year, representing a healthy six per cent increase compared to last year.

Consolidated revenue for the telecommunications company reached Dh13 billion, with the group’s EBITDA (earnings before interest, taxes, depreciation and amortisation) at Dh6.9 billion, up 2 per cent year on year.

“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,” said Hatem Dowidar, acting CEO, Etisalat Group, and CEO, Etisalat International.

“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,” he added.

“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.”

The group’s subscriber base during Q3 reached 12.1 million in the UAE, while its total group aggregate subscriber count reached 149 million, representing an increase of one per cent compared to 2019.

“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,” said Dowidar. “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.”

Some of Etisalat’s main highlights during Q3 included the launch of its e-store, along with its partnerships with Dubai International Financial Centre and other entities such as Smartworld and Synamedia.

Etisalat subscribers in the UAE during the third quarter were also able for the first time to access 5G fixed networks from their homes.