Dubai PR Network, Online Press Release from Dubai and Middle East
 
Telecom & Networking(Technology)
Filter PR by
  
Representing a 5% increase YOYı Etisalat Group Reports consolidated Net Profit of AED 2.2 billion in first quarter of 2019
 
Representing a 5% increase YOYı Etisalat Group Reports consolidated Net Profit of AED 2.2 billion in first quarter of 2019

Abu Dhabi -  23 April 2019:  Etisalat Group today announced its consolidated financial statements for the three months ending 31st  March 2019.
 Financial Highlights and Key Developments of Q1

•Aggregate subscriber base reached 143 million, representing a year over year increase of 2%.
• Consolidated revenues amounted to AED 13.0 billion and consolidated net profit after Federal Royalty amounted to AED 2.2 billion  representing a year over year increase of 5% and resulting  in a net profit margin of 17%.
• Consolidated EBITDA totaled AED 6.6 billion, representing an increase of 2% year over year and resulting in EBITDA margin of 51%.
• Etisalat achieved  ‘The Most Valuable Telecoms Brand’  in MENA by Brand Finance.
• UAE is ranked as a global leader in Fiber to the Home (FTTH) penetration for a third year in a row, according to the leading industry body FTTH Council 
• Etisalat’s innovation programme ‘Future Now’ signed agreements with four scaleups to develop Artificial Intelligence and Blockchain solutions. 
• Etisalat collaborates with ‘ Abu Dhabi Smart Solutions and Services Authority’ to digitise government services through its platform  ‘TAMM’.
• Etisalat unveiled Robotic Centre of Excellence to deliver automated solutions for  greater customer satisfaction.
• Etisalat launched the first Cloud Gaming service to deliver high-quality (1080p) cloud-based games directly to TV sets from a set-top box.
 
‏ ‏GCEO’s Message:


Eng. Saleh Abdullah Al Abdooli, Etisalat Group CEO said: “Etisalat’s solid performance of the first quarter is a promising start for 2019, an extension for our achievements of last year, and a testimony to the efforts in realising our vision and ambitions toward “Driving the digital future to empower societies”. 
 
“Etisalat achieved the most valuable telecom brand in the MENA region, yet another significant milestone attributed to our digital efforts. Etisalat infrastructure continues to play a key role in our goal to bring-in full scale digital transformation. The consistent efforts and investment in our network has helped position the UAE as a global leader in FTTH penetration among all its international counterparts for a third year in a row”. 

“Etisalat will continue its endeavour towards network modernisation and investment in future technologies such IoT and AI powered by our pioneering deployment of 5G network which will enable the company to address its growing customer and business aspirations with innovative services and solutions. We are confident that 5G will bring a wealth of opportunities in the socio-economic development of the UAE. 

Etisalat is also thankful to the vision of our wise leadership in the UAE in positioning the country among the most digitally advanced globally, inspiring us to deliver world-class networks and innovative services. We extend appreciation to our shareholders and loyal customers, to whom we owe more success and greater achievements.”
 
Subscribers
• In the  UAE  the subscriber base reached 12.6 million subscribers in Q1 of 2019, while  Aggregate subscriber base reached 143 million, representing a year over year increase of 2%
 
Revenue & Net Profit
• Consolidated revenues amounted to AED 13.0 billion and consolidated net profit after Federal Royalty amounted to AED 2.2 billion  representing a year over year increase of 5% and resulting  in a net profit margin of 17%.
 
EBITDA:
• Group Consolidated EBITDA for the first quarter of 2019 increased by 2% to AED 6.6 billion while EBITDA margin increased 1 point to 51% year on year. 
 
EPS
Earnings per share (EPS) amounted to AED 0.25 in the first quarter of 2019; a 5% increase from the same period last year.

 


Posted by : Dubai PR Network Editorial Team
Viewed 7198 times
PR Category : Technology
Posted on : Tuesday, April 23, 2019  12:30:00 PM 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 : Now rollover unused data and minutes with the all-new ‘Wasel...
Next Story : 5G is the ‘Future of Connectivity' and a game changer for th...
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
VARA - 2019 Fall/Winter Collection [8009-Views]
Nursery children gift Eid packages to labourers [5758-Views]
An increase of 36.7% compared to the first quarter [5216-Views]
Eid Al Adha Event Program [5081-Views]
US $859bn Oil, Gas and Petrochemical Projects Underway or Planned in the MENA Region as Gl... [5069-Views]
Dubai Festival City Mall Celebrates Global Independence Days with Exclusive IMAGINE shows [5039-Views]
Eid Gifting [4868-Views]
Turkish Airlines continues its journey to the top with new cabin uniforms [4673-Views]
Alisha Moopen appointed as the Deputy Managing Director of Aster DM Healthcare [4563-Views]
Evonik sticks to full-year outlook despite cooling economy [4490-Views]
Benefits to young people of becoming a freelancer a focus at International Youth Day event [4337-Views]
GEMS Education offers up some expert ways to get your children to read in the late summer ... [4240-Views]
Zulekha Hospital Sharjah Honored With Baby Friendly Hospital (BFHI) Accreditation From Uni... [4240-Views]
Al-Futtaim Toyota delivers strong H1 results [4148-Views]
FireEye Identifies Prolific Chinese Cyber Threat Group [4087-Views]
Eyes of the World on Expo 2020 Dubai [4056-Views]
MoHAP Announces Working Hours at Primary Health Care & Preventive Medicine Centers During ... [4038-Views]
Lenovo Introduces Single-socket Servers, Designed Specifically for Edge and Data-intensive... [3995-Views]
LG Signature Responds to Market Demand for Luxury Appliances With Expanded Lineup [3788-Views]
Show your Nanny some love and treat them to a Complimentary Haircut throughout August and ... [3654-Views]
9th Muslim World Business and Investment Zone to host Jewels of the Muslim World Award and... [3654-Views]
Sharjah Exports Development Center Achieves Record Results in First Half of 2019 [3599-Views]
Express Auto Wash offers festive deals during Eid Al Adha [3453-Views]
New Mimecast Report Reveals Analysis of 67 Billion Rejected Emails [3306-Views]
Introducing Lunette: A Tool to Empower Women [3306-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories