Revenues of Etisalat and du reach AED 75.1 billion during the first quarter of 2019

Media in\ Abu Dhabi 13-05-2019
Total assets of Etisalat companies listed in the Abu Dhabi and Dubai Financial Markets (Etisalat and Du) reached AED 75.1 billion during the first quarter of 2019 compared to AED 73.7 billion in the same period of 2018.
The total revenues of the two companies since the beginning of this year until the end of March, about 16.2 billion dirhams, while the net profit of the sector to 2.66 billion dirhams, according to financial statements issued by the two companies.
The revenues generated by the two companies account for 24.6% of total revenues recorded during the year 2018 amounting to AED 65.8 billion compared to AED 64.6 billion in 2017.
Emirates Telecom posted a net profit of AED 2.212 billion for the first quarter of this year compared to AED 2,112 billion in the first quarter of 2018.
The company’s net profit for the year 2018 reached AED 8.6 billion, an increase of 2.2% compared to AED 8.41 billion in 2017.
On the revenue side, it reached AED 16.14 billion during the first quarter of this year, accounting for almost 30% of its total revenues in 2018.
On the performance level of du, net profit for the first quarter of this year was AED 450 million, equivalent to 25.7% of net profit recorded for 2018.
The total revenues of du at the end of the first quarter of this year amounted to AED 3.14 billion, representing 23.4% of the revenues achieved during the year 2018 which reached about AED 13.41 billion.
The company’s assets rose to 18.84 billion dirhams at the end of March compared to 17.83 billion dirhams in 2018