Etisalat Group announces Q3 financial results

Etisalat Group announced yesterday its revenues In the UAE touched Dh 6.1 billion for the third quarter, 13 per cent higher in corresponding period of 2012. The quarterly year-over-year growth in revenues was primarily due to customer acquisition, an increase in the revenues of data and handsets sales. The report show the revenue from international consolidated operations grew by 41 per cent to Dh 3.38 billion, representing 35 per cent of consolidated revenues. Africa cluster consolidated revenues reached Dh 699 million. In Asia cluster, consolidated revenues grew to Dh 1.5 billion representing a growth of 285 per cent in comparison to the same period of last year. Eissa Al Suwaidi, Chairman of Etisalat, said: "The Q3 results were positive across our operations, with consolidated revenues boosted by the positive performance of the group and by Etisalat UAE in particular". "These results demonstrate that we are not only retaining our customers but also increasing our new customer base, and that Etisalat Group has made sound strategic decisions across our operations", he added. "This can be attributed to our long-term customer-centric approach, consolidation and diversification strategy, innovation and continues offering of new added-value smart services. We are truly marching forward with confidence and are fully prepared for the digital transformation age of tomorrow". "Today we can promise our shareholders and customers that we will continue to explore new ways to help them live and work and enjoy life more, while contributing to social development and economic growth in the United Arab Emirates and all our markets at the same time," concluded Al Suwaidi. Etisalat Group aggregate subscriber base grew to 144 million by end of September 2013 representing year over year growth of 11 per cent. In the UAE, subscriber base grew to 10.2 million representing YoY growth of 14 per cent. Mobile subscribers grew to 8.3 million representing a YoY growth of 17 per cent due to successful promotional campaigns and launch of new products and services. Fixed broadband subscribers grew by 12 per cent to 0.9 million. Africa cluster consolidated subscriber base grew to 12.0 million at the end of September 2013 representing YoY growth of 6 per cent. Asia cluster consolidated subscriber base reached 36.5 million at the end of September 2013, increasing by 28 million subscribers due to the consolidation of operations in Pakistan with effect from January 1st 2013. Consolidated revenues during the third quarter of FY 2013 reached Dh 9.59 billion representing an increase of 20 per cent in comparison to the same period of last year. In the UAE, revenues of Dh 6.1 billion for the quarter were 13 per cent higher than in the third quarter of 2012. The quarterly year-over-year growth in revenues was primarily due to customer acquisition, an increase in the revenues of data and handsets sales. Revenue from international consolidated operations grew by 41 per cent to Dh 3.38 billion, representing 35 per cent of consolidated revenues. Africa cluster consolidated revenues reached Dh 699 million. In Asia cluster, consolidated revenues grew to Dh 1.5 billion representing a growth of 285 per cent in comparison to the same period of last year