Emirates Integrated Telecommunications Company PJSC reports Q3 2022 results

Emirates Integrated Telecommunications Company PJSC reports Q3 2022 results

Dubai, UAE- Emirates Integrated Telecommunications Company PJSC (“EITC”) published its financial results for the quarter-ended 30 September 2022. Revenues increased by 10.5% to AED 3.17 billion on sustained demand for broadband and mobile services. EBITDA grew 18.5% to AED 1.3 billion thanks to a sharp increase in service revenues and gross margin expansion. Net profit increased by 12.7% to AED 319 million.

Operating highlights

Our mobile customer base grew 14.7% to 7.4 million subscribers. We highlight the sustained performance of our postpaid segment with net-additions of 32,000, a fifth consecutive quarter of growth, to reach 1.4 million subscribers. Our prepaid customer base of 6 million remained stable compared to the previous quarter.

Our consumer broadband customer base increased 53.8% to 510,000. Our broadband strategy continues to deliver. We attracted 37,000 customers during the quarter.

Financial highlights

Revenues grew 10.5% to AED 3,175 million. Mobile service revenues continued their recovery: revenues increased 10.7% to AED 1,443 million while equipment sales generated revenues of AED 176 million. Fixed servicesrevenues soared 22.2% to AED 892 million buoyed by the continued strong performance of the consumer segment. In aggregate, service revenues increased 14.8% to AED 2,335 million.

EBITDA increased by 18.5% year-over-year to AED 1,303 million. The increase in service