Abu Dhabi – Mubasher: Emirates Telecommunication Group (Etisalat) reported a 2% decrease in consolidated net profits to AED 2.179 billion during the first quarter (Q1) of 2020, compared to AED 2.212 billion in the same period of 2019.
The group's revenues increased by 1% to AED 13.113 billion during Q1-20 from AED 12.989 billion in Q1-19, according to the company's condensed consolidated interim financial results for the period ended 31 March 2020.
Earnings per share (EPS) stood at AED 0.25 in Q1-20, down by 2% when compared to the year-ago period.
Meanwhile, the group's consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) went up by 1% to AED 6.715 billion from AED 6.617 billion.
On a quarterly basis, the company saw an 11% hike in net profits in the January-March period, compared to AED 1.963 billion during the previous quarter.
On the other hand, the group's total consolidated debt edged up by AED 0.5 billion to AED 24.4 billion as of 31 March 2020 from AED 23.9 billion by the end of December 2019.
During a meeting held on Tuesday, 21 April, the board proposed a cash dividend distribution of 25 fils per share for 2020, with the close of the business day on 3 May 2020.
It is noteworthy to mention, in 2019, the group's consolidated profits attributable to the owners registered AED 8.693 billion, up 0.90% year-on-year (YoY) from AED 8.615 billion in 2018.
