Etisalat Group announced its consolidated financial results for the 12 months ended December 31, 2018. The consolidated revenues of the Group reached AED 52.4 billion, a growth of 1% over the same period last year. The net profit after the federal franchise was AED 8.6 billion, a growth of 2.4% compared to the same period last year.

The board of directors has proposed a dividend of 40 fils per share for the second half of 2018, representing a cash dividend of 80 fils for the full year.

Etisalat Group has confirmed the ratings of Standard & Poor's Global and Moody's, the AA-Aa3 credit rating.

According to the financial results, the subscriber base in the UAE reached 12.6 million, while the Etisalat Group reached 141 million subscribers, an annual increase of 1%.

Etisalat's consolidated revenues for the fourth quarter of 2018 were AED 13 billion. The net profit for the fourth quarter, after the federal franchise, was AED 2 billion, an increase of 2.4% over the same period last year, resulting in a net profit margin of 16%.

Earnings per share in the fourth quarter of 2018 reached 23 fils and 99 fils for the full year 2018, an increase of 2.4% compared to the same period last year.

A positive look

Commenting on the financial results for 2018, Essa Mohammed Al Suwaidi, Chairman of Etisalat Group, said that the Group's 2018 career was a continuation of previous successes towards realizing Etisalat's vision of "Leading the Digital Future for Community Empowerment" The Group's good exemplifies the sincere efforts made to maintain business momentum, as well as the emphasis on strengthening digital capabilities, capturing new growth opportunities in this area and increasing operational efficiency.

"We look forward to the future with a solid foundation of success and leadership, and we are determined to continue to innovate and focus on driving the digital transformation and taking advantage of future opportunities that will enable the Group to deliver added value to its customers and shareholders." That ongoing efforts will provide customers with a broad portfolio of products, services, integrated solutions, and innovative digital platforms to which they aspire.

Flexibility to work

Etisalat's CEO, Saleh Abdullah Al Abdooli, said the 2018 year was a year of achievements in the digital field. The Group showed flexibility in dealing with many of the challenges facing the telecommunications sector, as well as taking advantage of all opportunities to enhance Future growth in this area.

"The results of 2018 are an affirmation of the Group's ability to adapt to the dynamic changes that are taking place in the telecommunications sector around the world. The strategy of the Digital Community Empowerment Initiative is to innovate and adopt the latest digital solutions and services at the level of World, and employ them for the benefit of dealers ».

He stressed that the continuous efforts of Etisalat Group to launch the fifth generation network will give customers the opportunity to enjoy the latest and innovative digital services and solutions, reflecting Etisalat's position at the heart of its strategy.

He said the Group's focus will be on providing businesses, individuals and governments with innovative and smart solutions that help harness innovative technology and leverage its potential.