Etisalat Q3 Profits up 22 Percent with almost Half of Revenue coming from Abroad

By Bizclik Editor

Middle East telecoms giant Etisalat has reported a 22 percent rise in third quarter profits with nearly half of revenues in this time coming from international operations.

The Abu Dhabi-listed company actually missed the estimates made by some analysts but posted an increasing domestic income and acquired 44 percent of Maroc Telecom for €4.14 billion in Q3.

Overall Q3 profit stood at 2.65 billion dirhams ($599 million) in the three months to September 30, which represents all 19 country operations in the Middle East, Africa and Asia. Q2 profit was 1.83 billion dirhams.

International revenues went up 48 percent in this time while domestic revenues rose by ten percent to hit 6.8 billion dirhams, just over half of the overall 13.2 billion taken across the entire business.

Maroc has key operations in Gabon, Mauritania, Burkina Faso and Mali, adding more clout to Etisalat’s international presence in Africa, with chief executive Ahmad Julfar saying that the continent remains an important area of business.

The company’s margins have improved too. Margins onarnings before interest, tax, depreciation and amortisation (EBITDA) was 53 percent in the third quarter, up from 48 percent a year earlier.

Share

Featured Articles

Meet the COO: Brook Sims of MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Best business books to improve leadership strategy

From strategic guides to inspiring CEO memoirs, these new books dish up plenty of principles, strategies, and anecdotes to help you become a better leader

Shoplazza founder and CEO Jeff Li, ex Baidu, on leadership

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

The office shifts to new way of working – workplace special

Leadership & Strategy

Trailblazer: Clorox's DEI leader Shanique Bonelli-Moore

Sustainability

The inspirational CEO story – Dean Forbes of Forterro

Leadership & Strategy