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Etisalat expects $9.4bn in 2013 revenue
- United Arab Emirates: Saturday, March 09 - 2013 at 05:52
Etisalat has said its revenue for 2013 is expected to reach $9.4bn, with the former UAE monopoly also looking to consolidate its smaller assets, Reuters has reported. Etisalat's 2012 profit was Dhs6.74bn ($1.84bn), down 24% from a 2009 peak of Dhs8.84bn. Yet revenue has grown over this period, reaching a record high of Dhs32.95bn ($8.97bn) last year. The company did not provide a precise profit forecast in the presentation, but warned margins will be under pressure, with earnings before interest, tax, depreciation and amortization (EBITDA) slated to be 49-51% of revenue this year, compared with 51% in 2012.
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