JEDDAH — Etisalat Group got an additional of 4.5 millions aggregate subscribers over the last 12 months, pushing up its subscriber base to 145 million for a 3-percent growth, the company said on Monday. Announcing its consolidated financial statements for the three months ending March 31, 2014, the company said its mobile subscriber base in the United Arab Emirates grew by 20 percent year-over-year. Its consolidated revenues amounted to AED9.9 billion and increased year over year by 3 percent while the consolidated EBITDA totaled AED4.9 billion, resulting in EBITDA margin of 50 percent. Consolidated net profit after Federal Royalty amounted to AED2.0 billion and increased year over year by 11 percent. Etisalat's shareholders approved Board of Directors' recommendation on the distribution of dividends of 70 fils per share for the fiscal year 2013 which was paid in August 2013 and April 2014. The company's consolidated capital spending declined by 14 percent to AED0.9 billion. It maintained financial flexibility with consolidated net cash balance of AED13.3 billion. Key development for the first quarter of the year are: • First LTE (Long-Term Evolution) advanced technology (LTE-A) tested and deployed in the region, using 1800 MHz and 800 MHz bands. • Provided UAE customers with the opportunity to trade-in and upgrade their 2G handsets to enjoy the first UAE smartphone with the latest mobile technologies. • A key contributor to the UAE's efforts to transform into a smart government. • Launched mobile banking smartphone application in Nigeria, enabling customers to access their money faster and more conveniently. • Signed a Network Infrastructure Sharing Initiative with seven of the largest mobile network groups operating in the Middle East and Africa. “We achieved strong financial results in the first quarter of 2014, building on our strong performance in 2013," said Ahmad Abdulkarim Julfar, Group Chief Executive Officer, after the announcement of the company's consolidated financial statement.s "Our focus on innovative products and services that change the way people live their lives further supported customer retention while at the same time attracting new subscribers to our brand.” – SG
