Etisalat announces 17% net profit growth

Etisalat, the Abu Dhabi headquartered telecommunications group with operations in 16 countries, today announced a net profit after federal royalty of AED 1.9 billion for the second quarter of 2012 ending 30 June 2012, representing an additional growth of 3 percent over the previous quarter, and a year-on-year growth of 17 percent on quarterly Group consolidated revenue of AED 8.252 billion, an increase of 4 percent year-on-year. Consolidated EBITDA increased by 16 percent to AED 4.3 billion over the same period last year, while EBITDA margin improved 6pts to 52 percent. Financial Highlights for Q2 2012 • Consolidated revenues increased by 4% year-on-year to AED 8.3 billion • Revenue from International operations grew by 14% to AED 2.3 billion while their contribution to the top-line reached 28% • Consolidated EBITDA increased by 16% to AED 4.3 billion while EBITDA margin improved 6pts to 52% • Net Profit after Federal Royalty increased by 17% year-on-year to AED 1.9 billion • Declared interim dividends per share of 25 fils per share • Consolidated capital spending increased by 1% to AED 0.9 billion, representing 10% of the consolidated revenues • Maintained solid financial position with consolidated cash balance of AED 10.5 billion, leading to a positive net cash balance of AED 5.2 billion. Key Developments during Q2 2012. • Appointment of new Federal Government representatives to Etisalat Board of Directors. • Etisalat maintained its investment grade credit ratings. • The flagship multiple-play eLife service surpassed the 450,000 customer milestone. • Etisalat joins European Telecommunications Network Operators’ Association (ETNO) as observer member. • For the first time introduced rollover minutes on all post-paid plans in the UAE.