Emirates Integrated Telecommunications Company announces Q3 2021 results

Emirates Integrated Telecommunications Company announces Q3 2021 results

DUBAI, 19th October, 2021 (WAM) -- Emirates Integrated Telecommunications Company PJSC (EITC) announced its financial results for the third quarter of 2021. Revenues grew 6.9% to AED 2,874 million on sustained demand for broadband services and 5G handsets. More importantly, mobile services continued its recovery thanks to a buoyant postpaid segment. EBITDA amounted to AED 1,100 million thanks to cost optimisation which helped contain margin pressure from direct costs. Net profit was AED 283 million in spite of higher depreciation and amortisation charges.

According to financial results, mobile customer base reached 6.5 million. The postpaid segment remains resilient with net-adds of 13,000. The postpaid customer base grew to 1.3 million as a result of an improved digital Customer Experience as well as enhancements to the Power Plans. The prepaid customer base declined to 5.2 million subscribers due to a combination of summer seasonality and flight restrictions brought by the COVID-19 Delta variant.

The simplicity of our consumer offer helped accelerate net-adds to 52,000. The company ended the quarter with 331,000 broadband customers. Demand from the Enterprise segment is also returning.

Capital deployment plan is bearing fruits. Following significant deployment, our 5G network covers 90% of the population. Independent tests confirmed our