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Etisalat achieves EGP 4bn profit in nine months - Daily News Egypt

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Etisalat achieves EGP 4bn profit in nine months

Revenues for the third quarter were about EGP 2.4bn, compared to EGP 1.8bn in the same period last year, according to the company's results.


Etisalat telecommunication company achieved EGP 4bn gross income by the end of the first nine months of 2019.

According to the results of Emirates Telecommunications Company, the revenues of its unit in Egypt, Etisalat Misr, amounted to nearly EGP 10.6bn compared to EGP 8.8bn during the same period last year, making up 47% of the total revenues.

Revenues for the third quarter were about EGP 2.4bn, compared to EGP 1.8bn in the same period last year, according to the company’s results.

The company’s mobile operations accounted for EGP 8.9bn in revenues, while fixed services accounted for EGP 488m. On the other hand, the sales of appliances and equipment hit EGP 213.5m, in addition to EGP 681m in general sales.

The company’s customer base stood at 26.5m at the end of the third quarter of this year, losing 1.3 million customers compared to the same period last year, due to the National Telecom Regulatory Authority’s (NTRA) government measures.

The value of the company’s investments in the Egyptian market is about EGP 50bn over the past 10 years, pointing out that the company has allocated investments worth EGP 4.5bn this year in the development of its infrastructure network, part of which is directed to digital services.                                                                  

Etisalat Misr’s shareholders’ structure is divided between 66% of Emirates Telecommunications Group, Bareed Investment Company by 20%, The Dubai International Financial Centre(DIFC LLC UAE) by 5%, Das Holding UAE by 5%, Saudi Arabian Technical Investments by 1.5%, Al Naboodah Investment by 1.5%, and Mawarid Finance UAE by 1%.

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https://wwww.dailynewssegypt.com/2019/11/16/etisalat-achieves-egp-4bn-profit-in-nine-months/
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