The UAE based Emirates Integrated Telecommunications Company (trading as du) has reported a 51% rise in its subscriber base over the past year to 3.14 million customers at the end of Q3 2009.
Revenues for the quarter were AED1.33 billion (US$362 million) consistent with the previous quarter and up 25.8% vs Q3 2008. EBITDA was AED297.3 million (US$81 million), representing an increase of 22.8% vs Q2 09, and 192.9% vs Q3 08.
Revenue performance across the fixed and mobile segments was positive with mobile providing the largest gains with increased subscriber numbers. Revenue growth was seen across all business segments, with the exception of the wholesale which was highlighted in Q2 09 as being exceptional.
Net profit (before royalty) was AED157.1 million (US$42.8 million) for the quarter a 398% outperformance vs Q3 08 and up 36% vs Q2 09.
Commenting on the results, Ahmad Bin Byat, Chairman of du, said, "In a challenging economic environment, du continues to focus on its core business objectives, our customers, by providing continual upgrades to our network infrastructure and product range in order to bring continued customer satisfaction on all interactions with the company. Both profit and subscriber number growth is a clear indication that we have a robust business strategy".
During the third quarter du's pre and post paid mobile subscriber numbers saw continued growth with the addition of 25,900 post-paid mobile subscribers, representing a 55% increase in subscriber additions over the second quarter as a result of continued marketing strategy to increase market share. Post-paid customers represent 3.6% of du's mobile business. Pre-paid mobile subscribers also increased with an additional 207,300 subscribers added for the quarter.
du's ongoing capital expenditure (CAPEX) programme is on track to exceed AED 2 billion (US$545 million) in 2009, with AED 424 million accounted for during Q3 2009 bringing year to date expenditure to AED 1466.7 million. du expects to continue with its CAPEX programme and expects to commit an additional AED 2 billion during 2010.
Source: Cellular News