Etisalat Q213 revenue up 20%, net profit up 6%

Etisalat Group reported strong consolidated revenues during the second quarter of 2013, reaching AED9.88 billion (US$2.7 billion) representing an increase of 20 per cent year-on-year and an increase of three per cent quarter-on-quarter. During the quarter, group consolidated revenues were affected by the changing in the accounting treatment of the operations in Pakistan, which were consolidated with effect from January 1, 2013.

In the UAE, revenues of AED6.3 billion for the quarter were 12 per cent higher than in Q212 and five per cent higher sequentially. The year-over-year growth in revenues was primarily due to customer acquisition, an increase in data revenues, and handsets sales.

Revenue from international consolidated operations grew by 50% to AED 3,513 million, representing 36% of consolidated revenues.

Etisalat Group’s first six months 2013 revenue increased to AED19.5 billion in comparison to AED16.5 billion for H112.

The number of Etisalat Group’s aggregate subscribers grew to 143 million by end of June 2013, representing growth of 14 per cent compared year-on-year. The Group reported strong net additions of 18 million subscribers as a result of growth across all of its operations.

Consolidated net profit post Federal Royalty increased year-over-year by six per cent to AED1.98 billion, which was achieved through higher EBITDA and higher share of profit from associates.

Earnings per share (EPS) reached AED0.25 representing an increase of six per cent as compared to last year.