Etisalat net profit rises 2.1% at Dhs6.7b in 9 months

ABU DHABI: Etisalat Group on Wednesday announced its consolidated financial statement for the nine months ending 30th September, 2019. Consolidated revenues reached to Dhs38.8 billion, while consolidated net profit after Federal Royalty amounted to Dhs6.7 billion an increase of 2.1 per cent compared to same period last year.

Aggregate subscriber base reached Dhs148 million; representing Year over Year, YOY, increase of five per cent, said a press release issued by Etisalat on Wednesday.

Nine month consolidated Earnings before Interest, Taxes, Depreciation, and Amortisation, EBITDA, amounted to Dhs20.1 billion, representing an increase of two per cent YOY and resulting in EBITDA margin of 52 per cent Commenting on Etisalat’s achievements, 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 roll out of 5G networks while equipping our operations with the next generation of technologies like AI and robotics.” “Thanks to our strategy of ‘Driving the Digital Future to Empower Societies’ paving the way to achieve our digital ambitions. As we move into the 5G era, it has opened a world of opportunities enabling the deployment of innovative solutions and services across different sectors which will accelerate digital growth, drive efficiencies, and enrich the overall customer experience,” he added.

In the UAE, the subscriber base reached to 12.4 million subscribers, while Etisalat Group aggregate subscribers reached 148 million subscribers representing a YOY increase of five per cent.

Etisalat Group’s consolidated revenue for the third quarter of 2019 amounted to Dhs13.0 billion, while consolidated net profit after Federal Royalty amounted to AED2.3 billion resulting in a net profit margin of 18 per cent.

Consolidated EBITDA totaled Dhs6.8 billion, representing an increase of three per cent YOY and resulting in EBITDA margin of 52 per cent.

Meanwhile,  Etisalat recently welcomed visitors at Gitex Technology Week with its advanced and innovative showcases focusing on its main theme ‘5G-A World without limits’  highlighting the significant role of technologies like AI, Robotics, VR and AR across verticals.

The theme was aligned with Etisalat’s vision ‘Driving the digital future to empower societies’  by presenting solutions for the first time globally on the stand.

 Dr Ahmed Bin Ali, Group Senior Vice President, Corporate Communications, Etisalat said: “Etisalat’s presence at Gitex this year is special as the 5G revolution is here bringing in the next wave of digital transformation and innovation. Visitors will be able to experience 5G and future technologies that is going to intensify and disrupt the way we live and work falling in line with our strategy and Etisalat’s theme ‘5G A World without limits.”

 In 5G powered showcases, there is the 5G connected ambulance demonstrating how the technology can help emergency services, a unique consumer experience with 5G cloud gaming and an immersive futuristic remote driving experience as a F1 racer with VR over 5G showing the capabilities of the network’s low latency and high speed throughput.

 AI and robotics make a major presence with demos in mobility, retail, healthcare, smart living and entertainment.  

 Italdesign, the makers of the first flying car from last year at Gitex bring a unique sharing service for wheelchair users. The ‘Wheem-I’ is making its presence for the first time globally,  a semi-autonomous electric vehicle making travelling within the  city easier for people with a lightweight manual wheelchair.

 Etisalat also brings advanced robotic technologies to the stand with humanoid and social robots across the stand. There is ‘Furhat’ the world’s most advanced social robot who makes a presence this year communicating just like humans and maintaining eye-contact, considered to be a game changer in the world of robotics. Humanoid robots Selma & Owen based on the Mesmer system is a combination of robotics and animations software to create lifelike humanoid characters.

Next generation robotic technologies and displays on the stand make a unique showcase on the stand, ‘MELTANT’ developed by MELTIN reproducing the complex finger movements of humans in a wire-driven manner.

In retail, robotics and AI technologies provide visitors an intelligent shopping experience. Demonstrations include advanced payments with an NFC implant in the hand, an AI-powered autonomous checkout and analytics including assisted shopping.

 WAM/ Agencies