International business helps Etisalat in FY 2020

24 Feb 2021

UAE-based Etisalat Group recorded revenues of AED13.06 billion (USD3.56 billion) in the fourth quarter of 2020, down 2.1% year-on-year, while full-year sales declined 0.9% to AED51.71 billion. The group said a strong performance by its international operations helped to partially offset the negative impact of the COVID-19 pandemic on its domestic business. EBITDA was up 0.4% in the fourth quarter at AED6.30 billion, with an increase of 0.3% in the full-year result to AED26.44 billion. Net profit rose 4.4% in Q4 and 3.8% in 2020, to AED2.05 billion and AED9.03 billion, respectively.

Etisalat UAE had 10.36 million mobile customers at the end of 2020, down from 10.81 million a year earlier, while its fixed broadband subscriber base rose from 1.19 million to 1.22 million over the course of twelve months. Internationally, the Maroc Telecom group had 72.9 million customers at the end of 2020, up from 67.5 million a year earlier, while there were a further 26.4 million customers in Egypt and 25.5 million in Pakistan as of end-2020.

United Arab Emirates, Etisalat Group