Etisalat recorded a revenue and net profit rise in its quarterly results, as CEO Hatem Dowidar touted progress in the company’s ongoing push to expand digital activities across its business.
The Middle Eastern operator’s consolidated revenue hit AED13.2 billion ($3.6 billion), a 5.6 per cent increase year-on year in Q2 2021, with growth across its domestic and international operations. Net profit reached AED4.7 billion, up 3.9 per cent.
In home market UAE, revenue was up 1 per cent to AED7.5 billion, which it put down to a recovery in commercial activities, but noted the segment remained below pre-Covid-19 (coronavirus) levels.
In Morocco, revenue was up 8 per cent, to AED3.5 billion, attributed to favourable foreign exchange movement, as well as growth in its fixed business.
Egypt was a bigger riser, with revenue up 27 per cent to AED1.2 billion, boosted by mobile data and roaming gains. Sales in Pakistan also grew, 16 per cent, to AED800 million, as it benefitted from fixed and mobile broadband.
Breaking out mobile, the segment rose 2 per cent to AED2.6 billion overall, put down to strong post-paid performance and growth in mobile data, which offset a decline in voice due to penetration of OTT services.
In an earnings statement, Dowidar declared the company had an “unwavering commitment” to its key strategic priorities, which was to “enable a digital future and drive digital innovation across our operations”.
Etisalat’s aggregate subscriber base rose by 7 per cent to 156 million.Subscribe to our daily newsletter Back