UAE telecoms giant Etisalat sees H1 net profit rise to $1.28bn

 

 

CEO says Etisalat delivered growth in revenue, net profit and operating free cashflow despite challenges in key markets.

 

Abu Dhabi-based telecoms giant Etisalat on Thursday announced that net profit for the first six months of the year rose by nearly 4 percent to AED4.7 billion ($1.28 billion) after paying the Federal Royalty.

Consolidated revenues amounted to AED26.4 billion representing an annual increase of 3.2 percent while the Etisalat Group subscriber base reached 156.1 million customers, up 7 percent, with 12.1 million in its home market.

Jassem Mohamed Alzaabi, chairman of Etisalat Group, said: “Etisalat continued to demonstrate strong performance showcasing growth across its operations for the first half of the year, thanks to our continuous efforts and focus on our vision of driving the digital future with a strong commitment towards the societies we serve and adding value to our shareholders.

"We are confident that Etisalat Group will maintain its leadership position in the telecom industry while remaining focused on our core business and exploring new growth opportunities ensuring that we are well geared for the future with all our digital capabilities and solutions.”

 

Mr Hatem Dowidar , CEO, Etisalat Group, added:

 

“Etisalat Group’s strong results in the first half of 2021 is an outcome of our sincere efforts to drive growth and generate efficiencies, with an unwavering commitment to key strategic priorities to enable a digital future and drive digital innovation across our operations.

"Despite the challenges in our key markets, our businesses delivered growth in revenue, net profit and operating free cashflow... As we look ahead with confidence, we will focus on expanding our capabilities, maintaining industry leadership to achieve our long-term goals of enriching customer lives and empowering governments, businesses and societies across our footprint.

"We will remain focused on investments in futuristic solutions and next-generation technologies, enhancing the overall customer experience while delivering long-term value for all our shareholders.”

The company statement also said that its board has approved an interim dividend for the first half of 2021 of 40 fils per share.

   

 Fujairah FZ Fujairah 4442 ,Dubai

     United Arab Emirates

[email protected]

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