Etisalat Misr third-quarter revenues rise 18% year-on-year

Etisalat Misr, the Egyptian unit of Etisalat, sustained a quarterly revenue growth momentum, reporting an 18 percent rise in its third-quarter revenues supported by mobile data.

The Egyptian teleco company’s third-quarter revenues rose to 1.1 billion dirhams or around 4.7 billion Egyptian pounds ($299.5 million), its UAE parent company’s financial results released on Wednesday.

“Revenue growth in Egypt mainly attributed to strong growth in mobile broadband.” Etisalat Group said.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) amounted to 500 million dirhams or around 2.14 billion pounds, representing a year-on-year increase of 12 percent.

Capital expenditures (CapEx) fell 30 percent in July-September year-on-year to 100 million dirhams or around 428 million pounds.

“Lower capex spend in Egypt with focus on network capacity.”

The UAE teleco firm said the financial results were based on Egyptian pound’s exchange rate of around 0.2307 dirhams.