Etisalat Group Records 3.1% Increase in Net Profits in 1H 2019

Etisalat Group Records 3.1% Increase in Net Profits in 1H 2019 Image Credit: Etisalat Group

Etisalat Group announced a consolidated net profit of AED 4.4 billion (USD1.198 billion) for the first six months of 2019, representing a 3.1% increase year over year. 

The Operator recorded a consolidated EBITDA of AED 13.3 billion (USD3.36 billion), representing an increase of 2% year over year and resulting in an EBITDA margin of 52%. Its subscriber base reached 143 million, representing a year on year increase of 2%.

On its key achievements, Etisalat said it is the first telecom operator in MENA to provide 5G network inside Abu Dhabi’s new international airport, hence enabling it to become the first Airport in the region with 5G coverage allowing speeds of up to 1Gbps. The Operator also launched its e-Wallet, the new mobile digital payment service in collaboration with Noor Bank.

Essa Mohamed Al Suwaidi, Chairman of Etisalat Group
We have remained focused on our core business while demonstrating agility to transform and lead in the digital space driven by our bold vision ‘To Drive the Digital Future to empower societies’. 

Eng. Saleh Al Abdooli, CEO, Etisalat Group
Etisalat Group’s solid financial performance in the first half of 2019 is a result of our sincere efforts in building and investing in future networks while focusing on enabling innovation, and accelerating digital transformation across our operations.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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