Etisalat Group posts solid Q1 growth
Dubai, April 23, 2013
Etisalat Group, a leading regional telecom operator across emerging markets in Middle East, Africa and Asia, has registered a solid 17 per cent growth in its revenue for the first quarter which soared to Dh9.6 billion ($2.61 billion).
Announcing the results on Tuesday, Etisalat Group CEO, Ahmad Abdulkarim Julfar said its operating profit before federal royalty soared to Dh3.98 billion, while its aggregated subscribers base reached 141 million, thus representing a growth of 15 per cent.
"The Group reported strong net additions of 18 million subscribers as a result of growth across all of our operations," he stated.
The UAE telco giant has posted strong quarterly growth backed by a sharp rise in operating profits and subscriber base across its operating markets.
The consolidated revenue growth was driven by the domestic market and international operations after the inclusion of PTCL group’s revenue aggregated subscribers base reached 141 million.
The revenue from the Pakistan operations was included in consolidated figures for the first time and the overall consolidated operating profit was healthy, remarked Julfar.
He said the results were positive across all operating markets especially with consolidated revenues being boosted by the inclusion of the Pakistan operating company’s revenues for the first time.
According to him, Etisalat Group's consolidated revenue growth was driven by the domestic market and international operations after the inclusion of PTCL group’s revenue
“Etisalat Group enjoyed a strong increase on net revenue from its international operations as a result of its strategy, focused on innovation while investing in added-value services enabling better performance and increasing customer retention and acquisition," stated Julfar.
“We have seen significant improvement in UAE revenues and operating profits delivering on strong leadership and a clear vision for the future of Etisalat’s products, services and customer satisfaction," he added.
Julfar said overall these results were very good and reflected the efforts being made in the UAE to maintain market share and grow the company's offerings, the strength of its operations in Saudi Arabia, Egypt and Pakistan, and the continued growth across its remaining markets of operation.
“These results demonstrate Etisalat Group is on the right track and is well positioned to continue to deliver added value to its subscribers, shareholders and the communities it serves,” he added.-TradeArabia News Service
More IT & Telecommunications Stories
- Bahrain eGA to offer 26 new Apps in 2014
- Etisalat unveils high-data mobile bundles
- Bahrain to be ready for 5G network by 2017
- Eset wins top reseller award
- Etisalat wins performance award at CommsMEA
- Mideast IT spending to top $32bn in 2014
- MiX Telematics unveils fleet management solutions
- Etisalat unveils 100 MB data for prepaid users
- Du backs UAE entrepreneurs unit
- Aruba names new EMEA vice president