Etisalat Group aggregate subscribers as at 31 December 2020 was 154 million, reflecting a net addition of 5.4 million during the last 12 month period due to strong subscriber acquisition in Mali, Burkina Faso, Chad, Saudi Arabia, Togo and Benin. Quarter over quarter subscriber base increased by 3%.
Consolidated net profit after Federal Royalty amounted to AED 2.0 billion, resulting in a net profit margin of 16%, and increased year over year by 4.4%.
Despite the unprecedented global impact of the COVID 19 pandemic, Etisalat demonstrated robust financial performance, driven by our bold vision to constantly innovate while ensuring that communities we serve remain connected, informed and productive. Across our footprint, we stood for our communities and took immediate steps to protect our teams and customers, support critical verticals, and ensure the uninterrupted delivery of quality services. We engaged heavily with governments and authorities while supporting the community with innovative offerings and free initiatives that assisted students, organisations, and societies as a whole.
During the year, revenue and net profit growth were witnessed in our international markets while the domestic market experienced a decline in both due to the pandemic and market maturity.
Consolidated net profit after federal royalty increased year over year by 4.4% to AED 2.0 billion in the fourth quarter of 2020 resulting in a higher profit margin of 1 percentage point to 16%. This increase is attributed to better contribution from associates, lower asset impairment, higher forex gain and lower net finance and other costs.
Full year net profit increased by 3.8% to AED 9.0 billion resulting in profit margin of 17%. This increase is attributed to higher EBITDA, better performance of associates, lower asset impairment, lower federal royalty charges and forex gains as compared to forex losses in the prior period.
Source: www.etisalat.com
