EITC records 38.7 percent profits increase in Q1 2021

DUBAI, Emirates Integrated Telecommunications Company PJSC (EITC) published today its financial results for the first quarter of 2021.

The company reported revenues of AED 2.88 billion, 5.2 percent higher than the previous quarter, reflecting the company’s commercial efforts and gradual improvement in the general environment, while its EBITDA stood at AED 1.12 billion, 8.7 percent higher than the previous quarter. It also recorded a net profit of AED 257 million, 38.7 percent higher when excluding goodwill impairment charge in Q4 of 2020, while its capital expenditures reached AED 568 million.

Fahad Al Hassawi, Acting CEO of EITC, said, “Our capital allocation plan is validated by encouraging Broadband net-adds trends and sell-through of iPhone 12. We added 13k Broadband customers during the quarter, which is nearly as much as the annual net-adds in previous years.”

“The new operating model seeks to deliver deeper and more personalised customer engagement, a faster go-to-market approach, and a purpose and performance driven culture. We are committed to investing in our customers and the UAE,” he added.

Source: Emirates News Agency