Etisalat Group’s first half revenue reaches US$5.3 billion

Etisalat Group’s first half revenue reaches US$5.3 billion

United Arab Emirates (UAE) telecommunications giant Etisalat revealed this week that its first half 2013 revenue has increased to US$5 309 148 billion (AED 19.5 billion).

It is believed that this increase in revenue is mostly due to the strong performance of the company in the UAE.

Commenting on the results, Etisalat Group CEO Ahmad Abdulkarim Julfar said: “The outstanding performance of Etisalat UAE and the positive performance in Asia are reflected in our second quarter’s 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.”

The company, which serves 143 million customers in 15 countries across Africa and Asia, continues to reach out to new customers and markets.

.The company’s key highlights for the second quarter of 2013 include:
• Interim dividend of 35 fils per share, up 40% from the prior year.
• Revenue grew 20% to US$2.7 billion (AED 9.9 billion)
• Revenue from international operations grew by 50%
• Aggregate subscribers grew to 143 million
• Maintained financial flexibility with net cash balance of US2.96 billion (AED 10.9 billion)
• Etisalat’s launch of Flous, a service offering banking for the unbanked in Egypt
• Etisalat obtained Mobile Network Universal service licence in Benin
• Etisalat Group joined GSMA and Global Mobile Health Community in battle against diabetes
• Etisalat awarded best corporate social responsibilities practices award

Julfar added: “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.”

“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.”

Etisalat was named the most powerful company in the UAE by Forbes Middle East in 2012.

Photo: Ahmad Abdulkarim Julfar, GCEO of Etisalat

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