For the first six months during 2020, despite the onset of the health-economic-virus crisis, UAE based telecom giant Etisalat has reported a three percent surge in Net Profit to AED4.6 Billion ($1.3Bn).
Representing a year-on-year surge of two percent, the revenues of the telecom giant during the first half of the year has reached AED25.6bn ($7bn) while the giant firmโs overall subscriber base reached 146 million.
Consolidated EBITDA for H1 totalled AED13.2bn, along an overall margin of about 52 percent, while the deposit ratings organizations Standards & Poorโs and Moodyโs both acknowledged Etisalat Groupโs excessive credit rating at AA-/Aa3, together with a steady outlook.
Obaid Humaid Al Tayer, chairman of the Etisalat Group, stated: โWe are witnessing an opportunity to swifter the digital transformation. The unconventional stipulations hold spurred the acceptance on digital services, bridging a part through changing customersโ behaviour closer to digital channels.โ
Hatem Dowidar, the acting CEO, Etisalat Group and CEO, Etisalat International, also stated that: โToday the digital revolution is between fulfilled force including organizations looking at every window on opportunity according to transform their purposes and solutions.โ
โEtisalatโs innovative solutions hold catered due to the social distancing era, that has enabled remotest working and education, that have minimised human interactions as well has accelerated the move about automation. Our infrastructure has accommodated the vibration of requirements or is equipped because of extra acceleration of digital adoption.โ
‘Stay at Home’
Throughout the health-virus-economic crisis, the agency launched a collection of initiatives after aid the โStay at Homeโ direction issued by the government, which includes providing broad web connections in imitation of households to get entry to reach distance learning functions then permitting greater than 10 Million cell subscribers in conformity with relishing the free browsing over 800 websites correlated to education, health and safety.
Etisalat also has brought latter features and purposes for organizations in the course of action from home period, then deployed a committed challenge pressure in imitation of ascertain commercial enterprise continuity or in accordance with reveal the performance over basic applications.
Dowidar added: โDespite the international pecuniary pressure, Etisalat is doubtlessly moving advanced then flourishing positively within enabling societies throughout its operations. We desire proceed in accordance with focal point over capitalising opportunities and bettering average consumer journey while delivering long-term cost for entire our shareholders.โ
