Etisalat Group announced yesterday its consolidated financial results for the 12 months ended 31 December 2019, achieving consolidated net profit, after deducting the federal franchise, amounting to 8.7 billion dirhams, an annual growth of 1% compared to 2018, while the group's profits Consolidated before calculating interest, tax, depreciation and amortization to 26.4 billion dirhams, an annual increase of 2% and a margin of 51%.
The group said in a statement that the consolidated revenues for the past year amounted to 52.2 billion dirhams, while the total subscriber base reached 149 million subscribers, representing an annual increase of 6%, while the subscriber base in the UAE reached 12.6 million subscribers.
The Board of Directors suggested distributing 40 fils per share for the second half of last year, and distributing a total cash dividend of 80 fils for the full year, in addition to distributing 80% dividends.
The Chairman of the Board of Communications Group, Obaid Hamid Al Tayer, said, “The trip (Etisalat) in 2019, and the various and various accomplishments achieved in the telecommunications sector, were a testament to its leadership and at all levels, locally, regionally, and globally,” noting Until «Etisalat» continued to work to enhance its main business, discover new growth opportunities, and enhance its position in the digital field, in addition to a complete willingness to interact with future technologies, and even its leadership.
Al-Tayer added that «(Etisalat) managed to lead the digital transformation through a rapid response to the various technological developments and radical changes witnessed in the global telecommunications sector, and to provide the latest global innovations in order to foster creativity, as the digital transformation has become present in many different sectors and areas of life. We have strived to be at the forefront of this transformation. ”
He pointed out that the performance of «Etisalat» during the past year is a reflection of its capabilities and flexibility in transformation and leadership in the digital field, based on a strong vision and strategy.
For his part, CEO of Etisalat Group, Eng. Saleh Abdullah Al-Abdouli said that the success of Etisalat on its journey last year was mainly driven by its ambitious strategic goals, which are to drive innovation and digital empowerment, in light of the rapid developments in the telecommunications sector. Across the societies and markets they serve.
Al-Abdouli added that investing for growth, maintaining a superior and sustainable infrastructure, and possessing diverse assets, platforms and capabilities were an integral part of Etisalat’s efforts to build networks for a better future through all of its operations, until today’s “Etisalat” became the sign The strongest service brand in the Middle East and Africa for the third time in a row, in addition to being the strongest brand in the telecom sector in the Middle East and Africa, for the fourth time in a row.
• 52.2 billion dirhams consolidated revenue of the group.