Etisalat Group reports increase in consolidated revenues for Q3 2021

Etisalat Group reports increase in consolidated revenues for Q3 2021

Etisalat Group has announced its consolidated financial statement for the Q3 2021 ending 30th September 2021.

Q3 Financial Highlights and Key Developments Aggregate subscriber base reached 155.4 million, representing year-on-year increase of 4 %.

In Q3 2021, consolidated revenues reached AED 13.3 billion, an increase of 2 % compared to same period last year, while consolidated net profit after Federal Royalty amounted to AED 2.4 billion, an increase of 1 % compared to same period last year.

In the third quarter, consolidated EBITDA amounted to AED 6.7 billion, and resulting in EBITDA margin of 51%.

Due to consistent performance in the first 9 months Etisalat Group management improved full year 2021 guidance for all financial indicators.

In the UAE, the subscriber base reached to 12 million, while Etisalat Group's aggregate subscribers reached 155.4 million representing a year on year increase of 4%.

Hatem Dowidar, CEO, Etisalat Group, said:

''Etisalat Group continued to deliver a steady growth in the third quarter of 2021, demonstrating agility as we address the growing and ever-changing customer needs and market dynamics across our operations. We remain focused on achieving key strategic priorities that would enable a smarter digital tomorrow while opening new opportunities to engage with business and customers alike.

''We look at the future confidently with a positive outlook for our operations despite the various global macro-economic factors that are reshaping the business environment across our footprint. We will continue to channel our efforts towards enabling private and public sectors digital transformation journeys while equipping our operations with the next generation of technologies like AI and robotics to drive efficiencies. Etisalat mobile network reasserted its leadership as the fastest globally due to our sincere efforts in consistently pushing boundaries and delivering added value to our customers, shareholders, and the communities we serve.''

''Thanks to the vision of the UAE leadership and their continuous support to the telecom sector, inspiring us to deliver world-class networks and innovative services. We also extend our appreciation to our loyal customers and shareholders to whom we owe more success and greater achievements,''

News Source: Emirates News Agency

- Advertisement -
Dark Light