The UAE-based telecom operator Etisalat’s net profit remained steady at AED 2.2b in the second quarter of this year compared to a year ago despite tough market conditions.
Etisalat operates in 15 markets across the Middle East, Africa and Asia.
The operator’s revenue fell 1.53 per cent in the second quarter to AED 12.9b compared to AED 13.1b a year ago but has announced a distribution of an interim dividend of 40 fils per share for the first half of the year.
“Etisalat Group’s solid financial performance in the first half 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,” Saleh Abdullah Al Abdooli, Etisalat’s group chief executive, said in regulatory filing with the Abu Dhabi Securities Exchange.
UAE subscriber base reaches 12.4m
The operator’s consolidated earnings before interest, tax, depreciation and amortisation (EBITDA), a measure of a company's operating performance, increased by 2% to AED 13.3b while earnings per share (EPS) increased by 3% to AED 0.51 in the first half.
In the UAE, the subscriber base reached 12.4m in the first half while aggregate subscriber base reached 143m compared to 144m a year ago, witnessing a fall of 0.7%.
However, Etisalat is investing more than AED 4b in rolling out 5G network base stations this year in a bid to stay ahead of its Middle East peers.