Etisalat reports 6% H1 net profit growth

Etisalat Group on Tuesday announced its consolidated financial results for the first half ending 30th June 2018.

H1 2018 Financial Highlights and Key Developments

•  Etisalat Group subscriber base reached 144 million representing year on year increase of 4%
•  Etisalat Group Consolidated Revenues for first half of 2018 amounted to AED 26.2 billion representing 4% increase year over year.
•  Etisalat Group Consolidated Net profit for first half of 2018 amounted to AED 4.3 billion representing 6% increase year over year.
•  Etisalat achieves over 1 million VoLTE subscribers.
•  Etisalat launches first commercial 5G network in the MENA.
•  Expo 2020 Dubai becomes first 5G major commercial customer in MEASA through partnership with Etisalat; Etisalat’s 5G network will provide state-of-the-art services to Expo’s millions of visitors.
•  Etisalat launches ‘Hello Business Hub’ in UAE, a one-stop place for all start-ups and SMBs.
•  Etisalat Digital’s IOT Connectivity Solutions Empower FEWA Smart Metering Project.
•  UAE Ministry of Interior signs agreement with Etisalat to link UAE homes and establishments to a fire alarm system connected to the civil defence control room.
•  Etisalat, Ericsson and Intel launch ‘Driving the Future of 5G Innovation’ university competition.
•  Etisalat and Pro League Committee launch the region’s first Virtual Reality Football app
•  Etisalat and Microsoft form a strategic partnership to deliver the comprehensive, trusted Microsoft Cloud from their first datacentre located in the Middle East
•  Etisalat forms an alliance with AeroMobile for in-flight roaming coverage for business users.
•  Etisalat launches remote SIM provisioning of any embedded devices, while launching commercially the e-SIM enabled/LTE connected Apple Watch Series 3.
•  Etisalat forms exclusive partnership with GSMA for Mobile 360 Series – MENA Conference
•  Etisalat adopts latest GSMA’s global IoT Security Guidelines

• Etisalat launched two new challenges with Dubai Future Accelerators, focusing on Digital Customer Care and Transformation of Visitors’ Experience using Artificial Intelligence and Augmented/Virtual reality.

Industry Recognition

•  UAE ranked as global leader in Fiber Optic Network Cable for the second year in a row.
•  Etisalat awarded ‘Most Valuable Telecoms Brand’ in MENA region by Brand Finance at Mobile World Congress.
•  Etisalat receives the prestigious TL9000 certification, an International Quality Standard for the telecom industry.
•  Etisalat’s data centres acquire PCI/DSS certification guaranteeing maximum safety of customer data at all times.
•  Seven Etisalat shops were rated as 5 Stars as part of TRA’s “Erteqa” initiative.

Essa Mohamed Al Suwaidi, Chairman of Etisalat Group

“Etisalat Group’s financial performance of the first half of this year showcased its ability to innovate and lead in the telecom and digital services arena. We will continue to be technology leaders and our recent 5G commercial launch is another testament of our efforts, allowing us to tap into promising opportunities that will enable greater benefits for all segments of customers. The financial performance continue to lay a solid foundation for investment, hence, enabling Etisalat to introduce solutions that will reshape the industry and change the business operating dynamics.

“I would like to thank the wise leadership of United Arab Emirates for their continuous support and the Etisalat management team in making the digital vision a reality by staying focused on the company’s long-term strategy to drive stakeholder value. Thanks to both our supportive shareholders and loyal customers for inspiring us to set new global benchmarks and reach new business heights.”

Eng. Saleh Al Abdooli, CEO, Etisalat Group

“Etisalat Group’s financial results in the first half of 2018 is an outcome of our sincere efforts to drive growth and generate efficiencies, with an unwavering commitment to key strategic priorities that will enable a digital future, transform the ecosystem, and drive digital innovation across our operations.”

“We are proud that Etisalat was the first telecom operator to successfully launch the first 5G Ultra-Mobile broadband experience in the region, and through our partnership with Expo 2020 Dubai, the latter became the first 5G major commercial customer in MEASA. Such collaboration is a declaration of a new era of digital connectivity, and an acknowledgment of 5G’s rich anticipated potential”

Whether we are introducing novel technologies or launching new innovative services, our achievements are spread across all aspects of the business and integrate seamlessly to deliver our strategic objectives. We managed to capitalize on our financial, technological and human assets enabling us to spearhead in a new world that will be defined by the digital pioneers”

“Moving forward, we will continue to pilot and explore new technologies while probing prospective use cases that will maximize value and bring tangible benefit to customers and shareholder. Etisalat remains grateful to the country leadership for their continuous support, and thankful to its customers who have played a critical role in its journey, we believe in our ability to be the catalysts who will enable the transition of the society in the new digital era, and we are bound to unfold greater accomplishments down the road”

Subscribers

• Etisalat Group Subscriber base reached 144 million representing Year over Year increase of 4%.
• Etisalat UAE Subscriber base reached 12.7 million representing Year over Year increase of 3%.

Revenue

• Etisalat Group second quarter consolidated revenues amounted to AED 13.1 billion representing 2% increase comparing to Q2 2017.

Net Profit

•  Etisalat Group second quarter consolidated net profit amounted to AED 2.2 billion representing 12.4% increase comparing to Q2 2017.