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Etisalat Group Reports Consolidated Revenues of AED 13.1 Billion in Q1 of 2020

Etisalat Group today announced its consolidated financial statements for the three months ending 31st March 2020. As Part of its support and commitment towards the community and its shareholders, Etisalat board of Directors approves interim dividend payout of 25 fils per share. Aggregate subscriber base reached 150 million, representing a year over year increase of 5%.

Consolidated revenues amounted to AED 13.1 billion representing a year over year increase of 1% while consolidated net profit after Federal Royalty amounted to AED 2.2 billion and resulting in a net profit margin of 17%. Consolidated EBITDA totaled AED 6.7 billion, representing an increase of 1.5% year over year and resulting in EBITDA margin of 51%.

Etisalat launched initiatives to support “Stay at Home” directive offering free mobile internet for families without home internet to facilitate their access to distance learning services, free applications to support work from home for businesses and government entities. Etisalat completed the acquisition of Help AG, a privately held regional company specialising in the delivery of cyber security solutions and services.

Etisalat successfully launched open virtual Radio Access Network (Open vRAN), becoming the first operator in MENA to achieve this technological feat. Etisalat unveiled the 5G-enabled smart patrol for Dubai Police, a first in the Middle East and North Africa region. Etisalat partnered with Microsoft to enhance its public cloud first strategy infused with automation and AI.

Etisalat introduced ‘Cloudtalk’, first-of-a-kind cloud-based platform enabling  business unified communication and collaboration service for small and medium businesses (SMB) and enterprise customers in the UAE. Etisalat launched ‘Business Edge’, a new comprehensive platform offering a wide range of services and solutions that cater to Small and Medium Business (SMB) customers.

Etisalat partnered with Alef Education, to enable both entities to collaborate on a series of digital initiatives to empower the region’s education sector. Etisalat launched first-of-it-kind telehealth service in the private sector as a continuation of its mission to provide clinical excellence to patients in need. Etisalat partnered with Department of Health, the regulator of the healthcare sector in Abu Dhabi to launch the ‘Digital Healthcare’ Centre.

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Chris Fernando

Chris N. Fernando is an experienced media professional with over two decades of journalistic experience. He is the Editor of Arabian Reseller magazine, the authoritative guide to the regional IT industry. Follow him on Twitter (@chris508) and Instagram (@chris2508).

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