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Financial Results

Etisalat Reports AED 13.3 bn consolidated Revenues for Q3

31 Oct 2021

With consistent performance in the first 9 months Etisalat Group management improved full year 2021 guidance for all financial indicators

Abu Dhabi, 31 October 2021: – Etisalat Group today announced its consolidated financial statement for the Q3 2021 ending 30th September 2021.

Q3 Financial Highlights and Key Developments:

• Aggregate subscriber base reached 155.4 million, representing Year over Year increase of 4%
• In Q3 2021, consolidated revenues reached AED 13.3 billion, an increase of 2 % compared to same period last year, while consolidated net profit after Federal Royalty amounted to AED 2.4 billion, an increase of 1 % compared to same period last year
• In the third quarter, consolidated EBITDA amounted to AED 6.7 billion, and resulting in EBITDA margin of 51%
• With consistent performance in the first 9 months Etisalat Group management improved full year 2021 guidance for all financial indicators
• Etisalat named the world’s fastest mobile network by Ookla for the second consecutive year
• Etisalat Group completed the process of increasing its foreign ownership limit in its share capital to 49 percent
• Etisalat Group signed an agreement to acquire additional stake in Maroc Telecom Group, increasing its effective ownership from 48.4 to 53.0 percent
• Etisalat Group and G42 join forces to establish UAE’s largest data centre provider
• PTCL’s Ufone won nine megahertz of spectrum in the 1,800 megahertz band
• PTCL teamed up with Dell Technologies to introduce Azure Cloud Computing Services in Pakistan
• Etisalat Misr completed the first VoLTE call using virtual IP Multimedia Subsystem (IMS)
• Etisalat partnered with Orange to establish an inter-network packet exchange (IPX) point at Etisalat’s smart data switch (SmartHub)
• Etisalat Digital launched cloud-based Electronic Medical Record platform to enable UAE healthcare establishments to share data instantly
• Etisalat and Sharjah Roads and Transport Authority (SRTA) team up to host smart services and solutions to enhance sustainable transport in the emirate
• Etisalat Digital, Accenture and Oracle partner to offer SMBs and large enterprise clients in the Middle East Oracle cloud solutions across IaaS/PaaS/SaaS
• Etisalat partner with UAE Cyber Security Council and Ministry of Education to launch an internship programme for Emirati university graduates and professionals from cyber security workforce

Eng. Hatem Dowidar, CEO, Etisalat Group

Etisalat Group continued to deliver a steady growth in the third quarter of 2021, demonstrating agility as we address the growing and ever-changing customer needs and market dynamics across our operations. We remain focused on achieving key strategic priorities that would enable a smarter digital tomorrow while opening new opportunities to engage with business and customers alike.

We look at the future confidently with a positive outlook for our operations despite the various global macro-economic factors that are reshaping the business environment across our footprint. We will continue to channel our efforts towards enabling private and public sectors digital transformation journeys while equipping our operations with the next generation of technologies like AI and robotics to drive efficiencies. Etisalat mobile network reasserted its leadership as the fastest globally due to our sincere efforts in consistently pushing boundaries and delivering added value to our customers, shareholders, and the communities we serve.

Thanks to the vision of the UAE leadership and their continuous support to the telecom sector, inspiring us to deliver world-class networks and innovative services. We also extend our appreciation to our loyal customers and shareholders to whom we owe more success and greater achievements.

Q3 – Subscribers

In the UAE, the subscriber base reached to 12 million, while Etisalat Group aggregate subscribers reached 155.4 million representing a year on year increase of 4%.

Q3 – Revenue & Net profit

Etisalat Group’s consolidated revenue for the third quarter of 2021 amounted to AED 13.3 billion, representing an increase of 2%, while consolidated net profit after Federal Royalty amounted to AED 2.4 billion, representing an increase of 1 % compared to the same period last year.

Q3 - EBITDA

Consolidated EBITDA amounted to AED 6.7 billion, and resulting in EBITDA margin of 51%.