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Etisalat international sales climb 50%, UAE up 12%

24 Jul 2013

Abu Dhabi-based telecoms group Emirates Telecommunications Corporation (Etisalat) has reported revenues of AED9.882 billion (USD2.68 billion) for the second quarter of 2013, an increase of 20% from AED8.254 billion in the year-ago period, on the back of a 50% year-on-year jump in turnover from international operations to AED3.513 billion. Domestic revenues reached AED6.303 billion in the three months ended 30 June 2013, up by 12% year-on-year, primarily driven by customer acquisitions and an increase in data and handset sales. Etisalat noted that revenues at Egyptian unit Etisalat Misr declined 9% year-on-year to AED1.156 billion, mainly due to the currency devaluation against the dirham, although in local currency terms sales actually grew by 5% year-on-year, thanks to customer acquisitions and growth in the mobile data segment. Etisalat’s Africa cluster contributed AED694 million (down 1% year-on-year), mainly due to the competitive environment in the Cote d’Ivoire and currency devaluation in Sudan. Asian operations accounted for sales of AED1.664 billion in 2Q13 (up 335%), boosted by the inclusion of Etisalat’s business in Pakistan (PTCL) with effect from 1 January 2013. Etisalat, which is 60% owned by the UAE government, said that consolidated EBITDA climbed 14% from AED4.264 billion in the three months ended 30 June 2012 to AED4.867 billion twelve months later, mainly due to revenue growth in the UAE and consolidation of PTCL. Domestic EBITDA accounted for AED3.593 billion of the total (up 7% year-on-year), while international consolidated operations contributed AED1.098 billion (an increase of 54%). Consolidated net profit after royalty rose 6% from AED1.866 billion in 1Q12 to AED1.976 billion in the same period of 2013.

At the end of June 2013 Etisalat reported a total of 143 million aggregate subscribers, an increase of 14% from 126 million a year earlier. In the UAE, total customers reached 9.9 million (up 12%), including 8.0 million mobile customers (an increase of 15% year-on-year, attributed to successful promotional campaigns), 900,000 fixed broadband customers (up 10%) and 600,000 ‘eLife’ double- and triple-play subscribers. Africa cluster subscribers meanwhile grew 24% year-on-year to 12.4 million, while customers in the group’s Asia segment increased by 30 million over the twelve-month period to 37.6 million, thanks to the consolidation of Etisalat’s Pakistan operations.

United Arab Emirates, Etisalat by e& (formerly Etisalat Misr), Etisalat UAE

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