Etihad Etisalat Company announced financial results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net loss of SAR 70.7 million against net profit of SAR 10.6 million a year ago. Gross profit was SAR 1,671 million against SAR 2,134 million a year ago. Operational profit was SAR 86.9 million against SAR 133 million a year ago. This is due to the decrease in gross profit by SAR 463 million, which was partially offset by the decrease in operating expenses by 20.8%, reflecting continuous cost optimization efforts, certain savings and reversal of certain accruals. EBITDA amounted to SAR 953.8 million (or 32.8% EBITDA margin) compared to SAR 1,113 million (or 31.9% EBITDA margin) for the same quarter in 2015. The decrease in EBITDA by SAR 159.2 million is mainly attributed to the decrease in gross profit, while the improvement in the EBITDA margin is mainly attributed to the decrease in G&A expenses by SAR 251 million, reflecting continuous cost optimization efforts, certain savings and reversal of certain accruals. Revenues amounted to SAR 2,908 million compared to SAR 3,488 million for the same quarter in 2015, representing a decrease of 16.6% mainly due to:(i) The pressure on sales with the full impact of the finger print process implementation. (ii) The suspension of unregistered customers lines.(iii) The reduction of the interconnection rates. For the year, the company reported net loss of SAR 202.9 million against SAR 1,093.1 million a year ago. Gross profit was SAR 7,425 million against SAR 7,958 million a year ago. Operational profit was SAR 234.7 million against loss of SAR 683.9 million a year ago. Loss per share was SAR 0.26 against SAR 1.42 a year ago.