TeleGeography Logo

Etisalat group Q3 revenues climb 2%, subscription base grows 4%

2 Nov 2021

United Arab Emirates (UAE) telecoms group Etisalat has reported that consolidated revenues for the third quarter of 2021 amounted to AED13.3 billion (USD3.6 billion), representing an increase of 2.0% year-on-year and 0.6% quarter-on-quarter, while EBITDA decreased 2.4% y-o-y to AED6.7 billion in July-September, resulting in the Q3 EBITDA margin sliding by two percentage points to 51%, although if excluding one-off items recognised last year EBITDA would have grown by 0.1%. Group net profit after Federal Royalty reached AED2.4 billion in the three-month period, a 1.0% improvement y-o-y and up 1.7% q-o-q.

Etisalat’s aggregate subscription base stood at 155 million at 30 September 2021, showing a y-o-y increase of 4% due to growth in Saudi Arabia, Burkina Faso, Egypt, Chad, Benin, Pakistan, Morocco, Mauritania, Cote d’Ivoire and Gabon. Q-o-q the group base remained roughly flat. In the UAE, mobile subscriptions rose 1% y-o-y to 10.4 million (with the post-paid segment climbing 9%) and fixed broadband subscriptions grew 4% y-o-y to 1.3 million. The Maroc Telecom sub-group reached 72.8 million subscriptions at end-September, representing a 3% y-o-y increase.

Etisalat Group noted that on 28 October 2021 it completed a transaction to acquire additional shares in Etisalat Investment North Africa, increasing its effective ownership in Maroc Telecom Group from 48.4% to 53.0%.

United Arab Emirates, e& (formerly Etisalat Group), Etisalat UAE, Maroc Telecom (IAM)

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.


TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.