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Etisalat's second quarter earnings remain stable at AED 2.2b

The net profit of the UAE-based telecom operator Etisalat remained stable at AED 2.2b in the second quarter of this year compared to a year ago despite difficult market conditions.

Etisalat is active in 15 markets in the Middle East, Africa and Asia.

Operator sales fell 1.53 percent in the second quarter to AED 12.9b compared to AED 13.1b a year ago, but announced a distribution of an interim dividend of 40 fils per share for the first half of the year. year.

"The solid financial performance of Etisalat Group in the first half is the result of our sincere efforts to build and invest in future networks, while focusing on enabling innovation and accelerating digital transformation in our operations," said Saleh Abdullah Al Abdooli, CEO of Etisalat, in filing regulations with the Abu Dhabi Securities Exchange.

UAE subscriber file reaches 12.4 m

The consolidated profit of the operator before interest, tax, depreciation and amortization (EBITDA), a measure of the operational performance of a company, increased by 2% to AED 13.3b while the profit per share (EPS) increased by 3% to AED 0.51 in the first half.

In the UAE, the number of subscribers reached 12.4 million in the first half, while the total number of subscribers was 143 million, compared to 144 million a year ago, with a decrease of 0.7%.

However, Etisalat is investing more than AED 4b this year in rolling out 5G network base stations in an effort to stay ahead of its competitors in the Middle East.

  • The UAE jumps 16 places worldwide to finish in 25th place in the fastest fixed broadband speed in June
  • Etisalat wants to stay ahead of its competitors in the Middle East in the 5G race
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