Etisalat 9M profit up 2.1%

24 Oct 2019

Etisalat Group of the United Arab Emirates (UAE) has reported revenues of AED38.8 billion (USD10.6 billion) for the first nine months of 2019, while net profit rose 2.1% year-on-year to AED6.7 billion. EBITDA for the nine-month period climbed 2.0% to AED20.1 billion. Sales for the third quarter stood at AED13.0 billion while net profit amounted to AED2.3 billion. The group claimed 148 million subscribers across its operations in the Middle East, Africa and Asia, up 5% year-on-year. The total included 12.4 million customers in its domestic market.

Saleh Abdullah Al Abdooli, CEO of Etisalat Group, said: ‘Etisalat’s performance in the third quarter demonstrates our agility in adapting to the rapid changes in the telecom industry; we have channelled our efforts towards leading the digital transformation with the successful rollout of 5G networks while equipping our operations with the next generation of technologies like AI and robotics.’

United Arab Emirates, Etisalat Group