Emirates Integrated Telecommunications Company reports Q3 2021 results

Emirates Integrated Telecommunications Company reports Q3 2021 results

Dubai, UAE - 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. Fahad Al Hassawi, CEO said: “I am very pleased that consumer and corporate confidence are on the mend. Our fixed services business delivered another solid quarter. Broadband net-adds accelerated to 52k thanks to an attractive service offering. In addition, we see corporate demand for fixed services returning. Our commercial initiatives in mobile services are bearing fruits. The refreshed prepaid mobile tariffs are pushing gross-adds on the prepaid segment towards pre-pandemic levels. Our enhanced postpaid tariff plan is stimulating usage and supports a pathway to ARPU growth. This quarter is an inflection point for mobile service revenues: we renewed with nominal growth (+0.7% quarter-on-quarter) after three consecutive quarters of decline. Following two years of capital deployment, I am pleased to announce