Etisalat Group consolidated revenue grows

Etisalat Sri Lanka makes solid contribution through growth in local market

Abu Dhabi-based global telecommunications group, Etisalat announced a 17% net profit growth on quarterly consolidated revenue of AED 8.252 billion (approx. LKR 296.5 billion). The result was a combination of enhanced network readiness, the introduction of innovative services to drive data growth and increased revenue from international operations, which grew by 14%.

The consolidated Q2 revenue of Etisalat, represents an additional growth of 3% over the previous quarter, and a year-on-year growth of 4% on quarterly Group consolidated revenue.

Q2’12 saw Etisalat’s flagship multiple-play eLife service surpass 450,000 users and the global subscriber base grow to over 172 million users. Functioning in 16 countries, the contribution from international consolidated operations grew to 28% of consolidated revenues as compared to 26% contribution a year ago. This revenue growth is across all clusters. In Egypt revenues grew by 15% to AED 1,265 million in comparison to the same period of last year and grew by 5% quarter-over-quarter. Revenues growth was mainly driven by customer acquisition and growth in mobile data segment.

In the Asian cluster, consolidated revenues grew to AED 383 million representing a growth of 10% in comparison to the same period of last year. Growth is mainly driven by subscriber uptake in both Sri Lanka and Afghanistan. Commentating on the Group’s increased Q2 posting, Etisalat Chairman Eissa al-Suwaidi said: “Building on the solid performance that the Group witnessed during the first quarter of the year, we have seen a year-on-year increase of 20.5 percent in operating profit and 17 percent net profit on the back of strong market development in Egypt, Sri Lanka Benin, Gabon, Togo and Afghanistan, a result of our ongoing commitment to regional market development and growth.”

Etisalat has been on an extensive drive to deliver innovative telecommunications solutions to all the markets it operates and this has become a key contributor to the Group’s growth globally from year to year. “We will continue to focus on providing innovative customer-oriented solutions that deliver a premium experience both in local and overseas markets to help transform the communities in which we operate and to accelerate social development and economic growth. The Etisalat networks provide the critical infrastructure backbone for future growth and our focus is on delivering innovative, integrated solutions such as mHealth and mCommerce, Machine to Machine (M2M) and cloud networking to help people, governments and businesses do things more efficiently, more quickly and at lower cost”, said Ahmad Abdulkarim Julfar, Group Chief Executive Officer, Etisalat, commenting on the Q2’12 growth.

Etisalat Sri Lanka since beginning operations has spearheaded the advancement of the local telecommunications market, focusing extensively on innovation. Offering a range of products and services Etisalat Sri Lanka has contributed to the development of both the country’s telecommunications industry and economy.

Etisalat Sri Lanka, Chief Executive Officer/ Director, Dumindra Ratnayaka speaking of the Group’s Q2 performance, said “Etisalat Sri Lanka is growing at a rapid pace and is continuously delivering innovative, reliable and affordable services that add value to our customers’ lives. In a competitive telecommunication industry, Etisalat as a brand believes to inspire our customers’ to realise their dreams. Thus we are focused on introducing services that not only benefit our customers but also support developers and entrepreneurs of Sri Lanka. This year has been a resounding success for us and we expect this growth momentum to continue”.

Etisalat Sri Lanka is the first service provider in the country to launch a third party application development platform; the AppZone, which has paved the way for a new generation of entrepreneurs by empowering them with the tools to transform ideas into business. Etisalat Sri Lanka has also focused on increasing the market’s overall accessibility to technology by introducing and promoting affordable tablet PCs and smart-phones into the market.

Having rapidly surpassed 4 million subscribers, Etisalat has strengthened its position in Sri Lanka as a leader in innovation and is continuously launching initiatives to add value to the community. One such initiative was the recently inaugurated Etisalat Web Patashala programme, an e-learning platform operated in conjunction with the State Trading Corporation and the Ministry of Education. Etisalat Web Patashala which uses technology to make education accessible to children across the country will with time, have a progressive impact on Sri Lanka’s education system.