Dubai: Etisalat’s first-quarter net profit increased by eight per cent year on year to Dh2.2 billion on Sunday as it completed the sale of the six West African operations of Atlantique Telecom to Maroc Telecom.
The telecom operator’s consolidated revenues for the first quarter increased by 30 per cent to Dh12.9 billion while the consolidated EBITDA for the first quarter totaled Dh6.6 billion, representing an increase of 33 per cent year on year and resulting in EBITDA margin of 51 per cent.
Ahmad Julfar, Group Chief Executive Officer of etisalat, said that the strong financial results in the first quarter of 2015 were not only built upon our strong performance in 2014, but also provides a solid foundation for the remainder of the year.
“Continued growth in revenue, profits and subscribers in first quarter continues a pattern of growth that we have experienced over a long period. It is this solid foundation which allows us to move forward in confidence as the leading operator in emerging markets, delivering advancements in each of the countries we operate in,” he said.
