Abu Dhabi - MENA Herald: Etisalat Group today announced its consolidated financial statements for the nine months ending 30 September 2016.
Financial Highlights and Key Developments of Q3
Consolidated revenues amounted to AED 13.2 billion and increased year over year by 3%
Consolidated net profit after Federal Royalty amounted to AED 1.9 billion; 16% increase after adjusting for the impact of sale of Canar during the quarter
Consolidated EBITDA amounted AED 6.8 billion, representing an increase of 3% year on year and resulting in EBITDA margin of 51%
Etisalat Group aggregate subscribers reached 162 million
Etisalat Group completed the sale of its shareholding in Canar Telecom in Sudan
Launched a new Digital Business Unit in the UAE – Etisalat Digital
∙ Etisalat announced first Data Balance Transfer Service in UAE
∙ Etisalat dials up advanced mobile commerce with launch of its new ‘Etisalat Wallet’ service in the UAE
CEO’s Message:
Eng. Saleh Al Abdooli, CEO, Etisalat Group said: “The robust and constant growth of Etisalat Group is underpinned by our continued investments in next-generation services and solutions that add tremendous value to the communities we serve and enhance the customer experience. As a leading ICT provider in emerging markets, we are pushing our boundaries consistently, by not only responding swiftly to digital advancements, but also in proactively delivering cutting-edge services and solutions to our customers. Our first-mover accomplishments set us apart and make us the go-to overall service provider for customers, businesses and governments.
“We understand the aspirations of our customers, and that drives us to deliver innovative solutions to meet the demands of today’s digital age. Today, we deliver the fastest speeds in the region through our 4G LTE network, and we are contributing to transforming the UAE as a global leader in Fibre-To-The-Home deployment by delivering high quality, high-speed connectivity for nearly 90 per cent of the country’s populated homes. We have also made good progress on trials of our 5G network in the UAE, an investment that will enable our nation and our businesses to achieve transformational growth by leveraging the Internet of Things and The Cloud.
“Investing in state-of-the-art infrastructure for the future and building intellectual capital, we are honored to be one of the partners contributing in delivering the Vision of our leadership. We are demonstrating our next-generation capabilities through our role as Premium Partner of Expo 2020 Dubai, making the Expo site one of the fastest, smartest and best-connected places in the world. We will continue to focus on creating the world’s best networks in all the markets that we operate, and in delivering long-term value for all our stakeholders.”
Subscribers
Etisalat Group aggregate subscribers as at 30 September 2016 reached 162 million.
In the UAE, the active subscriber base grew to 12.2 million subscribers, representing a year on year growth of 5%. Subscriber growth continued to be driven by strong performance of mobile and eLife segments. The mobile subscriber base grew year on year by 7%.
Maroc Telecom subscriber base reached 52.3 million customers, representing a year over year growth of 3%.
Revenue
Etisalat Group’s consolidated revenue for the third quarter of 2016 amounted to AED 13.2 billion with growth of 3% in comparison to the same period last year.
In the UAE, revenue in the third quarter increased year on year by 4% to AED 7.5 billion.
Maroc Telecom consolidated revenue for the third quarter of 2016 amounted to AED 3.3 billion representing a year over year growth of 2%.
Net Profit
Consolidated net profit after Federal Royalty reached AED 1.9 billion in the third quarter of 2016. Adjusted consolidated net profit for the sale of Canar increased by 16% year on year.
Earnings per share (EPS) amounted to AED 0.22 in the third quarter of 2016.
EBITDA
Consolidated EBITDA amounted to AED 6.8 billion, representing an increase of 3% year on year and resulting in EBITDA margin of 51%.
In the UAE, EBITDA in the third quarter of 2016 was AED 4.1 billion leading to an EBITDA margin of 55%.
Maroc Telecom’s consolidated EBITDA for the third quarter of 2016 amounted to AED 1.7 billion, an increase of 1% year over year and resulting in EBITDA margin of 51%.
EBITDA of International consolidated operations increased year over year by 3% to AED 2.5 billion.
