The results of the activities of the company, listed on the Abu Dhabi financial market, showed that its consolidated net profit amounted to 2.2 billion dirhams (600 million dollars), while the profits of &e before the calculation of interest, taxes, depreciation and amortization amounted to 6.2 billion dirhams. , and a profit margin before calculation of interest, taxes, depreciation and amortization of 48%.
At the subscriber base level, the subscriber base of “Etisalat de “&e” in the United Arab Emirates reached 13.9 million subscribers, an increase of 6%, compared to the same period last year. last year 2022, while the group’s total subscriber base reached 164 million subscribers, an annual increase of 3 percent.
The group’s performance during the first quarter of 2023 has helped strengthen its global position, obtaining the portfolio ranking of the most valuable brands in the telecom sector in the Middle East and Africa region, according to the Brand Finance ranking, and “ Etisalat by &e” maintained its ranking as the strongest A-brand across all industries in the Middle East and Africa, and ranked among the top three strongest brands in the global telecommunications industry, which which confirms its regional and global leadership.
Hatem Dowidar, CEO of &e, said: “The group’s business results in the first quarter of this year show the extent of the growth achieved in terms of revenue, profit and number of subscribers, despite the strong fluctuations exchange rate in the Egyptian and Pakistani markets, but the flexibility enjoyed by the Group’s efforts to provide innovative business solutions and the latest cutting-edge technologies to the communities we serve have helped to lessen the impact of these repercussions, and we succeeded in building unique digital experiences supported by investment strategies to enrich our business portfolio.
He pointed out that Etisalat of “&e” in Egypt and Etisalat in Pakistan succeeded, during the first quarter of this year, in achieving their strategic objectives in serving customers and enriching their digital experience, and achieved growth based on income in local currency. noted that the sharp fluctuations in the exchange rate of the Egyptian pound to the Pakistani rupee, in addition to unprecedented high inflation rates in both markets, affected revenue after converting its value from local currency to Emirati dirham , which had a negative impact on the group’s commercial results.
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