Consolidated revenues of Etisalat Group amounted to AED 13.1 billion($3.6 billion), representing an increase of 5% year over year. In the UAE, revenue in first quarter increased year on year by 3% to AED 7.8 billion($2.12 billion).
Aggregate subscriber base increased 3% YoY to reach 144 million. In the UAE the subscriber base grew to 12.9 million subscribers in Q1 of 2018 representing a YoY growth of 3%.
Consolidated net profit after Federal Royalty amounted to AED 2.1 billion($570 million) resulting in a net profit margin of 16%.
Consolidated EBITDA totalled AED 6.5 billion($1.8 billion), representing an increase of 2% YoY and resulting in EBITDA margin of 49%.
Eng. Saleh Al Abdooli, Etisalat Group CEO said: “As we continue to encounter evolving industry dynamics, innovation and successful partnerships remain relevant and integral in sustaining our leading market position and assuring our profitability. Engaging the customers and allowing them to experience and probe our solutions potential has proven to be rewarding as we expand our products and services portfolio and introduce more value adding choices.
“Adoption of cutting edge technologies is a strategic imperative that will always be a cornerstone in Etisalat agenda, and while we operate in multiple markets with varying levels of technological maturity, our home market remains a driving force; as we witness the government adopting futuristic technologies, like AI and Blockchain, and leading the digital transformation of the society as a whole”
He added: “Etisalat has continued its efforts to align its business with its digital initiatives which has enabled us to develop a healthy business portfolio. Moving forward, we will stay focused on realising our strategic and operational goals and on materialising our digital transformation. We will continue to push technological boundaries and tap on non-traditional revenue streams that will augment our core services revenues and maximise the return on investment of our networks and platforms.”
Q1 saw Etisalat and Microsoft forming a strategic partnership to deliver the comprehensive, trusted Microsoft Cloud from their first datacentre located in the Middle East. UAE Ministry of Interior signed agreement with Etisalat to link Emirati homes and establishments to a fire alarm system connected to the civil defence control room. Etisalat has also partnered with key industry peers to form the Global Telco Security Alliance, which offers enterprises a world-class cyber security service across a global footprint.
Etisalat also launched ‘Hello Business Hub’ in UAE, a one-stop place for all start-ups and SMBs. In addition, it launched two new challenges with Dubai Future Accelerators, focusing on digital customer care and transformation of visitors’ experience using AI and Augmented/Virtual reality.