Du Reports Q2

DUBAI, UAE -- Emirates Integrated Telecommunications Company PJSC, (du), the new telecom operator in the UAE, today announced its 2007 second quarter results.

Financial highlights

The second quarter (April-June 2007) financial results showed net sales revenues growth of 184% to AED302.3m compared with the similar period last year (Quarter 2 2006: AED106.5m) bringing total revenues for the six months ending 30 June 2007 to AED485.5m (2006: AED200.9m). This increase in revenues reflects both the successful launch of the mobile services in February 2007 together with continued expansion of the fixed line business.

Net loss for the period reached to AED280.8m bringing total net loss for the year to AED496.7m.

Capital expenditure in the six months to 30 June 2007 was reported at AED 899m, predominantly reflecting the investments made in launching the mobile services. Net cashflow utilization for the six months, taking into account the continuing capital investment programme of the company, was AED963.2m.

“du has now firmly established itself as a telecom provider in the UAE. Our investment decisions, new initiatives, and customer confidence coupled with the favourable economic environment has contributed to increased revenues across our business in the second quarter of the year, as compared to the first.” commented Ahmed Bin Byat, Chairman of Emirates Integrated Telecommunications Company, du .

Emirates Integrated Telecommunications Co. (du)