Etisalat Group today announced its consolidated financial results for the 12 months ended 31 December 2019.
Financial highlights and most important developments for the year: 2019
The total number of Etisalat Group subscribers reached 149 million, which represents an annual increase of 6%.
The consolidated income for the year 2019 reached 52.2 billion dirhams, while the consolidated net profit after deducting the federal concession right was 8.7 billion dirhams, with an annual growth rate of 1% compared to last year.
The consolidated profits of “Etisalat Group” before calculating interest, tax, depreciation and amortization reached 26.4 billion dirhams, an annual increase of 2% and a margin of 51%.
A proposal for a dividend of 40 fils per share for the second half of 2019, for a cash dividend of 80 fils for the full year, and for a dividend of 80%.
The ratings agency "Standard & Poor's Global" and "Moody's" confirmed Etisalat Group's high credit rating of AA- / Aa3.
Etisalat is the strongest service brand and the strongest brand in the telecom sector in the Middle East and Africa for the year 2019 by the global brand agency.
Etisalat is the fastest mobile network in the MENA region, and the fastest broadband network in the Gulf Cooperation Council countries, Africa, and the Arab region.
The United Arab Emirates is the first in the world for the third year in a row, in terms of the penetration of the fiber optic network for homes (FTTH).
The second UAE in the world in terms of speed of the mobile broadband network - December 2019.
"Maroc Telecom" acquires the company "Tigo Chad".
The commercial launch of the 4G network in Burkina Faso, and the 3G network in the Central African Republic.
Etisalat is the first to implement 5G Stand-Alone technology in the MENA region.
Etisalat achieves a new record download speed of 3.1 Gbps over the independent 5G network.
Etisalat does “MEC” multi-port terminal computing technology to double video transmission efficiency over 5G network.
Etisalat covers the new Abu Dhabi International Airport building, the tallest tower in the world, the Burj Khalifa, and the Etisalat Metro Station on the 5G network.
Etisalat Digital and DMCC are transforming the JLT into the first smart and sustainable region supported by the latest technology of the fifth generation G5, with the aim of launching advanced and smart devices, services and platforms through public utilities, energy consumption reduction, and asset and building management.
Etisalat cooperates with Microsoft to provide public and private entities, large, small and medium companies with the latest innovative digital transformation solutions.
Etisalat launched the e-Wallet, for new digital banking services via mobile phones, in cooperation with Noor Bank.
Etisalat Digital launches Scale AD, in cooperation with the Abu Dhabi Digital Authority, to support digital transformation in Abu Dhabi.
Etisalat launches the first cloud games service of its kind in the United Arab Emirates.
Etisalat provides Basmat application to all residents and visitors of the UAE.
Etisalat launches a robotic center of excellence, to provide many innovative automated solutions that improve performance and enhance customer satisfaction levels.
Etisalat Group Chairman's statement:
Commenting on the financial results, His Excellency Obaid Humaid Al Tayer, Chairman of the Board of Directors of “Etisalat Group,” said, “The journey of 'Etisalat' in the year 2019, and the various and various achievements in the telecommunications sector, were a testament to its leadership and at all levels; locally, Regionally, and globally, Etisalat has continued to enhance its core business, discover new growth opportunities, enhance its position in the digital field, and fully prepare to interact with and even lead future technologies.
He added, "Etisalat has managed to lead the digital transformation by responding quickly to the various technological developments and radical changes witnessed in the global telecommunications sector, and providing the latest global innovations in order to foster creativity, as the digital transformation has become present in many different sectors and areas of life, and we have endeavored Strive to be at the forefront of this transformation. "
He pointed out that “Etisalat’s performance 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. Today, we are confident that the 5G network will give us the opportunity to encourage and stimulate innovation across many sectors and industries, while enabling Technologies emerging from becoming an integral part of the economy of the United Arab Emirates and its lifestyle. "
The Chairman of Etisalat Group concluded his statement by emphasizing that the success of Etisalat and its leadership locally and regionally would not have been achieved without the continuous and continuous support of the leadership of the United Arab Emirates, the loyalty of Etisalat customers, the confidence of its shareholders, and the commitment of the Etisalat management team. His dedication is to work towards achieving Etisalat's vision and strategic goals.
Etisalat Group CEO statement:
For his part, Eng. Saleh Abdullah Al-Abdouli, CEO of Etisalat Group, said, “The success of Etisalat on its journey in 2019 was mainly driven by its ambitious strategic goals, which are to drive innovation and digital empowerment, given the telecommunications sector is witnessing Rapid developments across the societies and markets they serve. "
“Investing for growth, maintaining superior and sustainable infrastructure, and having diverse assets, platforms and capabilities, have been an integral part of Etisalat’s efforts to build networks for a better future across all of its operations, so Etisalat today is the brand The strongest service 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. This would be a true testimony to the effectiveness of sincere efforts that sought to build a successful brand in the telecommunications sector at the regional level " .
"Etisalat has been at the forefront in launching the 5G network, this new technology boom promises endless prospects, enriches the community with many exceptional solutions and services, and creates new opportunities for all sectors, as it incubates the most important emerging technologies," he added. Such as the Internet of Things, cloud computing, big data, artificial intelligence, robots, and self-control technologies, as well as augmented and virtual reality technologies, to be 'Etisalat' as the trusted partner for the journey of digital transformation in the shadow of this connected world. Here the company in order to improve network capacity, it was nicknamed the 'connections' mobile network the fastest in the Middle East and North Africa, and fixed broadband network the fastest in the GCC, Africa and the Arab region.
Al-Abdouli emphasized his confidence that Etisalat Group is able to fulfill the aspirations and aspirations of its customers, and continues to support the communities it serves and create added value in the markets in which it is located.
He concluded by saying: It is a pleasure for me to thank the wise leadership of the UAE for its continuous and continuous support to the group, and the shareholders for their continuous encouragement, and customers for their firm trust and continued loyalty.
Subscriber base:
The subscriber base in the United Arab Emirates reached 12.6 million, while the total number of subscribers of Etisalat Group reached 149 million, with an annual increase of 6%.
Revenue and earnings:
The consolidated income for the year 2019 reached 52.2 billion dirhams, while the consolidated net profit after deducting the federal concession right was 8.7 billion dirhams, with an annual growth rate of 1% compared to last year.
Interest, tax, depreciation, and amortization:
The consolidated profits of “Etisalat Group” before calculating interest, tax, depreciation and amortization reached 26.4 billion dirhams, an annual increase of 2% and a margin of 51%.