Etisalat Reports Healthy Q2 Revenues

Etisalat Group, a leading telecoms operator in the Middle East, Africa and Asia, has announced strong results for the second quarter of 2013, with an increase of quarterly consolidated revenues and subscribers across its operating markets.

Some of the key highlights for Q2 are : interim dividend of 35 fils per share, up 40% from the prior year; and revenue growth 20% per cent

Also revenue from international operations grew by 50% while aggregate subscribers grew to 143 million.

The group also announced that it launched “Flous” that offers banking for unbanking in Egypt  and obtained mobile network universal service license in Benin.

It joined GSMA and Global Mobile Health Community in battle against diabetes; and was awarded best CSR practices award

Etisalat Group reported strong consolidated revenues during the second quarter 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.

Ahmad Abdulkarim Julfar, 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 board’s declaration of interim dividend of 35 fils per share is a strong indication of our steady performance and the success of the Group’s strategic plan, which has been supported by a clear and ambitious vision from our top executives and smooth execution by a talented work force.

“Etisalat commitment to communities and investment in human capital, technology and innovation is enabling growth across our operating markets and this is reflected positively in the results.

“These results demonstrate that Etisalat Group is absolutely on the right track and able to continue to add value to its subscribers, shareholders, employees and the communities it serves.”