Home / Etisalat reports AED 4.4 Billion consolidated Net Profits for first half of the year

Etisalat reports AED 4.4 Billion consolidated Net Profits for first half of the year

Distribution of interim dividend for the first half of the fiscal year 2019 of 40 fils per share

Financial news, Etisalat International - UAE

Etisalat Group today announced its consolidated financial results for H1 ending 30th June 2019.

The telecom reported strong revenue growth reaching AED 25.9 billion while consolidated Net profit amounted to AED 4.4 billion representing 3.1% increase year over year. They also have the recognition of being the first telecom operator in MENA to provide 5G network inside Abu Dhabi's new international airport, hence enabling it to become the first Airport in the region with 5G coverage allowing speeds of up to 1Gbps.
Among other notable developments, their group subscriber base reached 143 million representing year on year increase of 2% and launched e-Wallet, the new mobile digital payment service in collaboration with Noor Bank and for consumers they opened the ‘Smiles UAE' application to all residents and visitors in the UAE .
On the enterprise, they collaborated with Microsoft as its strategic partner , to provide government entities, large enterprises, and small and medium enterprises with digital transformative solutions.

"Etisalat is thankful to the visionary leaders of United Arab Emirates for their continuous support of the telecom sector and the management team for staying committed and focused to achieve our digital ambitions. We thank all our customers and shareholders for the continuous motivation that helped spark growth, contribute to our success, transformation and innovate boldly to make an impact in the near future." said Essa Mohamed Al Suwaidi, Chairman of Etisalat Group

"Etisalat Group's solid financial performance in the first half of 2019 is a result of our sincere efforts in building and investing in future networks while focusing on enabling innovation, and accelerating digital transformation across our operations.Eng. Saleh Al Abdooli, CEO, Etisalat Group said.

"While Expo 2020 was the first major commercial customer in MEASA to partner with Etisalat on 5G, Etisalat remains proud of its accomplishments as the first telecom operator to launch the first commercial 5G network in MENA. Through our network rollout and the pioneering launch of the first 5G handset in the MENA, we managed to provide our UAE customers with an opportunity to experience the power of 5G technology before many others.  We have also empowered visitors at Abu Dhabi international airport with indoor ultra-high speed 5G connectivity, making it the first airport in the region with 5G coverage.

"These breakthrough achievements were only possible due to sincere commitment and focused efforts on key strategic priorities that would enable a smarter digital future, transform the ecosystem and open up opportunities to engage with business and customers in new ways. 5G will forever change the way we work and live by bringing positive impact on societies, industries and economies.

Etisalat remains grateful to the country leadership for their continuous support, thankful to our customers who are at the heart of everything we do and our shareholders for their constant encouragement, our focus will be to continue investments in futuristic solutions and next generation technologies to deliver the best-in-class services and solutions."

 

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