Etisalat points to pandemic disruption during Q2 - Mobile World Live

Etisalat points to pandemic disruption during Q2

22 JUL 2020

UAE-based operator Etisalat insisted it was focused on meeting its digital goals despite headwinds posed by the Covid-19 (coronavirus) pandemic, as it reported a small dip in revenue during Q2.

In an earnings statement, the company reported revenue of AED12.5 billion ($3.4 billion) in Q2, a drop from AED12.9 billion in the comparable 2019 period. Profit dropped from AED2.6 billion to AED2.5 billion.

Despite the quarterly decline, Etisalat chairman Obaid Humaid Al Tayer argued the company had delivered a good performance in the first half of the year considering the circumstances, noting the world was “voyaging through unchartered waters”.

“Etisalat managed to adapt, respond and demonstrate resilience as we ensured the delivery of uninterrupted services to our customers and had the privilege of supporting our society through various initiatives,” he said.

The company, which has pushed the need for digital transformation across the region in recent years, added the pandemic offered an opportunity “to fast track” that vision.

Al Tayer explained: “The unconventional conditions have spurred the adoption of digital services, bridging a divide by changing customers’ behaviours towards digital channels.”

Etisalat added its subscriber base reached 146 million, up 2 per cent year-on-year.

The company did not break out quarterly figures for its International division.

Back

Author

Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

Read more

Related

Tags