Financial Highlights


Financial Highlights for Q2 2021

  • Aggregate subscriber base reached 156 million, representing a year over year increase of 7%;
  • Consolidated revenues for the second quarter amounted to AED 13.2 billion, representing an increase of 5.8% year over year and remained steady quarter over quarter;
  • Consolidated EBITDA for the second quarter amounted to AED 6.6 billion, representing an increase of 1.8% year over year, resulting in an EBITDA margin of 50%, 2 percentage points lower than the prior year;
  • Consolidated net profit after Federal Royalty amounted to AED 2.4 billion, representing a 0.3% increase year over year and 1.9% quarter over quarter, resulting in a net profit margin of 18%;
  • Consolidated capital spending increased by 6% to AED 1.6 billion, representing 12% of the consolidated revenue; and
  • Operating free cash flow amounted to AED 5.0 billion, representing a 1% increase year over year.

Key Developments in Q2 2021

  • S&P Global and Moody's affirm Etisalat Group's Credit Ratings (AA-/Aa3) with stable outlook;
  • Etisalat Group successfully completed a 1 billion Euro bonds issuance that was 6 times oversubscribed;
  • Etisalat and Ericsson partner to commercially deploy 5G high-band in the UAE offering subscribers faster speeds and lower latency;
  • Etisalat highlighted plans to accelerate OpenRAN realisation as part of its cloud native NaaS transformation;
  • Etisalat Digital launched the UAE Trade Connect (UTC), a new blockchain platform to help financial institutions combat fraud and duplication, in partnership with seven UAE banks and Avanza Innovations;
  • Etisalat's Digital Financial Services (eWallet) partners with Al-Futtaim and Lulu among others to enable contactless payment;
  • Etisalat Egypt signed a MoU with Canal Sugar Company, the first of its kind in the agricultural sector to digitally transform their financial transactions; and
  • E-Vision launches new Television Audience Measurement (TAM) system in the UAE to give industry professionals access to viewership data.
Key Figures

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