311 million dirhams, profit from «Emirates Integrated Telecommunications» for the first quarter, a growth of 21%

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The financial results of the Emirates Integrated Telecommunications Company for the first quarter of 2022 showed a growth in revenue of 8.5% to reach 3.1 billion dirhams due to the continued demand for broadband and mobile services.

The company’s earnings before interest, tax, depreciation and amortization grew by 13.3% to 1.3 billion dirhams due to the increase in services revenue. The company’s net profit during the first quarter increased by 21% to 311 million dirhams. Free cash flow from operating activities recorded a growth of 75% to reach AED 964 million.

strong growth

Fahd Al-Hasawi, CEO of Emirates Integrated Telecommunications Company, in exclusive statements to Al-Bayan, expected the company’s strong growth path to continue through 2022, especially with the acceleration of digital systems development, and the continued orientation of companies to keep pace with the demands of digital transformation by digitizing operations and adopting ICT solutions such as cloud solutions, data center services and cybersecurity solutions.

He added: We are very proud of the operational and financial performance we have achieved over the past year and the first quarter of this year, as we were able to return to the path of growth during 2021 thanks to a new and comprehensive strategy to do. business supported by the gradual improvement in market conditions. We have also strengthened our operational process model and our management frameworks in line with the developments seen by the market and the sector in general, as well as the changes that have taken place in the trends of our customers, which have had a positive effect on us. financial results, or during the past year or this quarter. ”

business environment

Commenting on his assessment of the business environment in general and the performance of the telecommunications sector in particular, following the challenges posed by the Covid-19 pandemic, Al-Hasawi said: ‘The business environment in the country has’ a clear recovery seen since the second half of last year due to the wise and thoughtful decisions taken by the government and its approach, which was characterized by keeping a balance between developments The pandemic and the response to business requirements, which in turn contributed to the remarkable recovery of the economy and the return of business sectors to the growth path. Over the recent period, the telecommunications sector has proven its importance in ensuring business sustainability and continuity as the demand for communication technology has seen unprecedented growth, leading to an increase in the telecommunications sector’s revenue and profit margins.

investment scene

Al-Hasawi pointed out that institutions across the financial services, healthcare, retail and hospitality sectors, in addition to the manufacturing sector, are currently leading the investment scene in digital technology, and expect the investment momentum to continue during the current year and years to come. , especially from companies that want to create new and innovative experiences for their customers.

Fifth generation

Al-Hasawi noted that the fifth generation technology is one of the areas in which du has invested heavily in recent years, due to the great potential and capabilities of this technology to create a new world of opportunities and communication and interdependence between billions devices, in addition to the development of new use cases. Creating more opportunities, whether for individual or corporate clients, and supporting emerging sectors such as self-driving vehicles, smart networks, remote operations, industrial applications, and others. He added, “For years we have made huge investments to expand the scope of this network to include all regions of the country.” We will also continue our investments in modern digital platforms.

The commercial initiatives contributed to the growth of the mobile customer base by 10.4% as the company ended the first quarter with a mobile subscriber base of 7.5 million, in light of a noticeable increase in net new subscribers in the postpaid and prepaid customer segments. For the third consecutive quarter, the company managed to record a remarkable growth in net new subscribers in the postpaid customer segment, which amounted to 1.4 million subscribers. While the segment of prepaid customers grew to 6.1 million.

new subscribers

The broadband service offerings retained their attractive features and benefits as the company managed to attract 48,000 new subscribers (compared to 13,000 subscribers in the first quarter of 2021) and the company ended the first quarter with a broadband subscriber base of 439,000, an increase in subscribers of 76.7% based on annual.

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