Etisalat Group has announced its consolidated financial statements for the three months ending 31st March 2018.
The telecommunications colossus disclosed that its subscriber base has reached 144 million, representing a year over year increase of 3% - and consolidated revenues amounted to AED 13.1 billion, representing an increase of 5% year over year.
Consolidated EBITDA totalled AED 6.5 billion, representing an increase of 2% year over year and resulting in EBITDA margin of 49% - and its consolidated net profit after Federal Royalty amounted to AED 2.1 billion resulting in a net profit margin of 16%.
Some of the key announcements and developments involving Etisalat are outlined below:
- Etisalat formed a partnership with Microsoft to form a strategic partnership to deliver the comprehensive, trusted Microsoft Cloud from their first datacentre located in the Middle East.
- Etisalat has also partnered with key industry peers to form the Global Telco Security Alliance, which offers Enterprises a world-class cyber security service across a global footprint.
- Etisalat's data centers acquire PCI/DSS certification guaranteeing maximum safety of customer data at all times.
- Etisalat receives the prestigious TL9000 certification, an International Quality Standard for the telecom industry.
- Etisalat launches ‘Hello Business Hub' in UAE, a one-stop place for all start-ups and SMBs.
- Etisalat launched two new challenges with Dubai Future Accelerators, focusing on Digital Customer Care and Transformation of Visitors' Experience using Artificial Intelligence and Augmented/Virtual reality.
Eng. Saleh Al Abdooli, Etisalat Group CEO said: "Etisalat's first quarter results are a continuation of previous quarters' solid performance, and a promising start for the current year, alluding positive prospects for both customers and shareholders."
"As we continue to encounter evolving industry dynamics, innovation and successful partnerships remain relevant and integral in sustaining our leading market position and assuring our profitability. Engaging the customers and allowing them to experience and probe our solutions potential has proven to be rewarding as we expand our products and services portfolio and introduce more value adding choices", he added.
"Adoption of cutting edge technologies is a strategic imperative that will always be a cornerstone in etisalat agenda, and while we operate in multiple markets with varying levels of technological maturity, our home market remains a driving force; as we witness the government adopting futuristic technologies, like AI and Blockchain, and leading the digital transformation of the society as a whole."
"Etisalat has continued its efforts to align its business with its digital initiatives which has enabled us to develop a healthy business portfolio. Moving forward, we will stay focused on realizing our strategic and operational goals and on materializing our digital transformation. We will continue to push technological boundaries and tap on non-traditional revenue streams that will augment our core services revenues and maximize the return on investment of our networks and platforms."
In terms of subscribers' number, aggregate subscriber base reached 144 million, representing a year over year increase of 3%. In the UAE the subscriber base grew to 12.9 million subscribers in Q1 of 2018 representing a year on year growth of 3%.
Etisalat Group's consolidated revenue for the Q1 of 2018 amounted to AED 13.1 billion, representing an increase of 5% in comparison to the same period last year. In the UAE, revenue in first quarter increased year on year by 3% to AED 7.8 billion.