Wed 22-04-2020 09:46 AM
ABU DHABI, 22nd April, 2020 (WAM) -- Etisalat Group today announced its consolidated financial statements for the three months ending 31st March 2020, while also approving an interim dividend payout of 25 fils per share.
In a statement the telecommunications group noted that its consolidated revenues amounted to AED13.1 billion representing a year over year increase of one percent while consolidated net profit after federal royalty amounted to AED2.2 billion, resulting in a net profit margin of 17 percent.
Etisalat's consolidated EBITDA totalled AED6.7 billion, representing an increase of 1.5 percent year over year and resulting in an EBITDA margin of 51 percent.
Commenting on the results, Etisalat Group Chairman Obaid Humaid Al Tayer said, "Today as we navigate through these challenging times, Etisalat has showed resilience and remained committed towards the communities it serves, ensuring business continuity and readiness, minimising impact on our operations and uninterrupted services to our customers. Etisalat's performance in the first quarter reflects our agility in dealing with unprecedented market challenges and pressures facing the telecom sector globally."
"We are also thankful to the vision of our wise leadership in the UAE in positioning the country among the most digitally advanced globally and inspiring us to realise our efforts in driving the digital future to empower societies by delivering world-class networks, infrastructure and innovative services," he continued, adding that this has empowered Etisalat to address the current challenges and meet digital requirements facilitating businesses to work remotely and over a million students enjoying distance learning across the UAE.
"Through our dedicated teams, we were geared to fully support and serve the community showcasing infrastructure preparedness to deliver access to vital telecom services during today’s extraordinary times," he assured.
In the UAE, the group's subscriber base grew to 12.7 million subscribers in Q1 of 2020, while the aggregate subscriber base reached 150 million, representing a year over year increase of five percent.