Innovation has driven Etisalat Group’s consolidated revenues to reach Dh9.9 billion and subscriber base to touch 145 million in the first quarter of the year, the company announced yesterday.
The telecommunication services provider, which operates in 15 countries including the UAE, reported that its overall subscriber base expanded by 4.5 million during the last 12 months ending March 31, 2014, while its consolidated income jumped by 3 per cent year over year.
The company’s consolidated net profit after Federal Royalty increased year over year by 11 per cent to 2 billion. Benefiting from the positive growth, Etisalat shareholders were granted dividends amounting to 70 fils per share for the year 2013.
In the UAE, the company’s revenues increased by 8 per cent to reach Dh6.5 billion as a result of increased demand for eLife services, handset sales and mobile data. Its active subscriber base in the country also grew to 10.9 million in March 2014, representing a year-over-year growth of 16 per cent.
The strong growth has been attributed to the company’s drive for innovative products which is instrumental in retaining and attracting customers.
“We achieved strong financial results in the first quarter of 2014, building on our strong performance in 2013. Our focus on innovative products and services that change the way people live their lives further supported customer retention while at the same time attracting new subscribers to our brand,” said Ahmad Abdulkarim Julfar, group chief executive officer at Etisalat.
In the first three months of the year, the company deployed a new technology called long-term evolution- advanced (LTE-A), which provides significant opportunities in commercialising the data segment. LTE technology provides faster Internet access in mobile phones and portable devices or improves the way subscribers are able to surf online and make calls using their gadgets.
Glen Ogden, regional sales director for Middle East at A10 Networks, said Etisalat’s performance is mainly due to the company’s strong leadership and commitment to innovation.
“Innovation is the key to retaining your subscribers and maintaining high year-on-year growth. Etisalat has shown leadership and innovation recently, especially in the area of roaming data options, which the high proportion of lucrative business users consider critical to their everyday lives,” Ogden told Gulf News.
Julfar said the results also reflect their efforts in “strengthening mobile banking solutions” in the markets where the company operates.
“Being able to help millions of customers to navigate the digital ecosystem requires Etisalat to continually invest and innovate to keep pace with the growing demand for mobile data within our networks,” he said.
Shaheen Haque, territory manager for Middle East and Turkey at Interactive Intelligence said Etisalat’s customer focus can also be credited for the company’s strong performance. “It comes as no surprise that Etisalat’s revenues and subscriber base are increasing at a healthy pace. This in no small measure can be attributed to the company’s constant innovation and customer focus — not just in terms of technology innovation, but also in terms of innovative offers and campaigns tailor-made to appeal to all types of nationalities and income groups.”
