Etisalat Misr: 2020 revenues grow 22% y-o-y

Etisalat Misr, the Egyptian unit of UAE’s Etisalat Group, reported on Tuesday a 22 percent year-on-year growth in revenues to around 17.8 billion Egyptian pounds ($1.1 billion or 4.17 billion dirhams) for 2020.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) also rose 41 percent to 7 billion pounds at the end of 2020.

Aggregate subscriber base has reached in 2020 around 26.4 million, representing a year-on-year increase of 200,000.

For the parent company, Etisalat Group made a consolidated net profit after Federal Royalty amounted to 9.0 billion dirhams, resulting in a net profit margin of 17 percent, and increased year-on-year by 3.8 percent.

Its consolidated EBITDA amounted to 26.4 billion dirhams, marking a year-on-year increase of 0.3 percent and resulting in EBITDA margin of 51 percent, higher by 0.6 percentage points compared to the prior year.