Financial Highlights


Financial Highlights for Q3 2021

  • Aggregate subscriber base reached 155 million, representing a year over year increase of 4%;
  • Consolidated revenues for the third quarter amounted to AED 13.3 billion, representing an increase of 2.0% year over year and 0.6% quarter over quarter;
  • Consolidated EBITDA for the third quarter amounted to AED 6.7 billion, representing a decrease of 2.4% year over year, resulting in an EBITDA margin of 51%, 2 percentage points lower than the prior year. Excluding one-off item recognised last year, EBITDA grew 0.1%;
  • Consolidated net profit after Federal Royalty amounted to AED 2.4 billion, representing a 1.0% increase year over year and 1.7% quarter over quarter, resulting in a net profit margin of 18%;
  • Consolidated capital spending increased by 77% to AED 2.7 billion, representing 21% of the consolidated revenue. Excluding spectrum acquisition and license costs, capital spending increased by 7%; and
  • Operating free cash flow amounted to AED 4.0 billion, representing a 25% decrease year over year mainly due to spectrum and license acquisition costs. Excluding these costs, operating free cash flow declined by 3%.

Key Developments in Q3 2021

  • Etisalat Group completed all the steps for increasing foreign ownership limit in its share capital to 49%;
  • Etisalat Group successfully acquired additional stake in Etisalat Investment North Africa, increasing its effective ownership in Maroc Telecom Group from 48.4% to 53.0%;
  • PTCL's Ufone won nine megahertz of spectrum in the 1,800 megahertz band at base price;
  • Etisalat UAE named the world's fastest mobile network by Ookla for the second consecutive year;
  • PTCL teamed up with Dell Technologies to introduce Azure Cloud Computing Services in Pakistan;
  • Etisalat Digital launched cloud-based Electronic Medical Record platform to enable UAE healthcare establishments to share data instantly;
  • Etisalat partnered with Orange to establish an inter-network packet exchange (IPX) point at Etisalat's smart data switch (SmartHub) in the UAE;
  • Etisalat partnered with Yale Middle East to provide a full range of its smart door locking solutions;
  • PTCL and Cisco signed a Service Provider Partnership agreement to modernize IT infrastructure and deliver services to businesses in Pakistan; and
  • Etisalat was named the best regional SMS service provider at the fifth annual Carrier Community Global Awards ceremony in Berlin.
Key Figures

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