Company Report

Etisalat Group Consolidated EBITDA amounted to AED 26.4 billion in Q4 2020

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 EBITDA amounted to AED 26.4 billion, representing an increase of 0.3% year over year and resulting in EBITDA margin of 51%, higher by 0.6 percentage points compared to the prior year

In a challenging environment, we performed effectively and achieved strong financial and operational results with slightly lower revenue.

Group consolidated revenue decreased by 0.9% while EBITDA rose by 0.3%, resulting in a healthy EBITDA margin of 51.1% The COVID-19 pandemic has had a negative impact on UAE’s performance that resulted in revenue and EBITDA decline.

This was mostly compensated by growth in revenue and EBITDA of international operations. Consequently, consolidated group net profit grew by 3.8% reaching AED 9.0 billion.

Group consolidated EBITDA for the fourth quarter of 2020 increased by 0.4% year on year and decreased by 8.7% quarter on quarter to AED 6.3 billion, resulting in EBITDA margin of 48%, 1.2 percentage points higher than the prior year and 4.7 percentage points lower than the prior quarter. Despite lower revenue. The year over year stability in EBITDA is attributed to the ongoing cost optimisation initiatives and lower provisions for bad debt.

For the full year, EBITDA amounted to AED 26.4 billion, an increase of 0.3% year over year, while EBITDA margin increased by 0.6 percentage point to 51%. This was mainly attributed to cost control measures that compensated for the decline in revenues and increase in impairment loss on trade receivables.

Source: www.etisalat.com

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