Etisalat Image Credit: File photo

Abu Dhabi: Etisalat Group on Tuesday announced its financial results for the first of half 2019 showing net profits of Dh4.4 billion, representing a 3.1 per cent year on year on increase.

The group’s financial results also showed consolidated revenues reaching Dh25.9 billion and its consolidated EBITDA (earnings before interest, taxes, depreciation and amortisation) totalling Dh13.3 billion — an increase of two per cent year on year. Earnings per share amounted to Dh0.51, an increase of 3 per cent from last year.

Other key results revealed a two per cent year-on-year increase in its global subscribers, reaching 143 million in total, with its subscriber base reaching 12.4 million subscribers in the UAE during first half of 2019.

“Etisalat’s performance in the first half of the year is a testimony of its regional leadership in the telecom sector. We have remained focused on our core business while demonstrating agility to transform and lead in the digital space driven by our bold vision,” said Essa Mohammad Al Suwaidi, chairman of Etisalat group, commenting on its financial results.

Al Suwaidi also commented positively on becoming the first telecom operator in the Mena region to provide 5G network.

“The launch of the first 5G network in the region is a major achievement as it opens up massive opportunities and adds value to both our customers and shareholders, it will help fast-track new innovative digital services.

“We have recently [also] launched our mobile digital payment banking service e-Wallet, which is a solid step towards achieving the smart vision of UAE and is in line with country’s overall objectives to achieve digital transformation,” he added, highlighting Etisalat’s digital services.

Saleh Al Abdooli, chief executive officer at Etisalat Group, also hailed the telecom operator’s roll-out of the 5G network for its customers in the UAE.

“Through our network roll-out and the pioneering launch of the first 5G handset in the Mena, we managed to provide our UAE customers with an opportunity to experience the power of 5G technology before many others.

“We have also empowered visitors at Abu Dhabi International Airport with indoor ultra-high speed 5G connectivity, making it the first airport in the region with 5G coverage,” he added.

“5G will forever change the way we work and live by bringing positive impact on societies, industries and economies,” Al Abdooli said.