Etisalat Announce 20 Percent Increase on Quarterly Revenues To AED 9.9 billion

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Etisalat Group today announced strong results for the second quarter of 2013, with an increase of quarterly consolidated revenues and subscribers across its operating markets.

Ahmad Abdulkarim Julfar, the Chief Executive Officer at Etisalat Group, said: “The outstanding performance of Etisalat UAE and the positive performance in Asia are reflected in our Q2 results.”

The telco has operation in the Middle East, Africa and Asia.

Below are the firm’s key highlights for Q2 2013:

•          Interim dividend of 35 fils per share, up 40% from the prior year.

•          Revenue grew 20% per cent to AED 9.9 billion

•          Revenue from international operations grew by 50%

•          Aggregate subscribers grew to 143 million;

•          Maintained financial flexibility with net cash balance of AED 10.9 billion.

•          Etisalat launch “Flous” that offers banking for unbanking in Egypt

•          Etisalat obtained Mobile Network Universal Service License in Benin

•          Etisalat Group joined GSMA and Global Mobile Health Community in battle against diabetes;

•          Etisalat awarded best CSR practices award

Etisalat Group reported strong consolidated revenues during the second quarter of FY2013 reached AED 9,882 million representing an increase of 20% in comparison to the same period of last year and an increase of 3% in comparison to the first quarter of 2013. During the quarter, Group consolidated revenues was affected by the changing in the accounting treatment of the operations in Pakistan, which was consolidated with effect from January 1st 2013.

In the UAE, revenues of AED 6,303 million for the quarter were 12% higher than in the second quarter of 2012 and 5% higher than the first quarter of 2012. The quarterly year-over-year growth in revenues was primarily due to customer acquisition, an increase in the revenues of data and handsets sales.

Revenue from international consolidated operations grew by 50% to AED 3,513 million, representing 36% of consolidated revenues.

Etisalat Group’s first six months 2013 revenue increased to AED 19.5 billion compared to last year’s first six months (H1, 2012) where it was AED 16.5 billion.

Via APO