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EITC achieves 11 4% rise in Q2 profit; EDB reviews progress

EITC achieves 11 4% rise in Q2 profit; EDB reviews progress
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EITC posts $3 billion revenue for 2020

EITC posts $3 billion revenue for 2020 DUBAI, February 9, 2021 Emirates Integrated Telecommunications Company (EITC) has posted a revenue of AED11.08 billion ($3 billion) and a net income of AED1.44 billion for the year ended December 31, 2020 despite the tough operating environment caused by the pandemic. EITC’s Capital Expenditure increased by 24.1% year-over-year to AED1.87 billion, representing a capital intensity of 16.9%, its highest level over the last five years, as the company’s strong balance sheet enabled it to maintain its ambitious capital deployment plans for 2020. The Board of Directors has approved of a dividend distribution of 28 fils per share for 2020, out of which 13 fils per share were paid in August 2020 as an interim dividend.

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