The General Assembly of Etisalat Group, during its annual meeting held yesterday, approved the proposal of the Group’s Board of Directors to distribute total profits to shareholders by 80 fils per share for the full fiscal year 2019.

This comes at a time when the group's consolidated revenues reached 52.2 billion dirhams, while the consolidated net profits after deduction of the federal concession amounted to 8.7 billion dirhams, with a growth rate of 1%, compared to the same period last year.

Various achievements

In his speech during the meeting, the Chairman of the Board of Directors of the «Communications Group», Obaid Hamid Al Tayer, said: “While (Etisalat) continues today its journey in the new decade, its performance during the past year confirms that the various accomplishments achieved have been different. , As a testament to the company's leadership in the telecommunications sector in the region, where (Etisalat) continued to work to enhance its main business, discover new growth opportunities, enhance its position in the field of digital transformation, and fully prepare to interact with future technologies and its leadership ».

Driving digital transformation

Al-Tayer added that “(Etisalat) managed to lead the digital transformation through a rapid response to various global technological developments, and to provide the latest services and innovations in this field, to enhance creativity”, noting that “through these efforts, it was able to be at the forefront of the digital transformation. In many different sectors and areas of life. ”

He pointed out that the continuous success of (Etisalat) is mainly due to its awareness of the requirements of its customers, and its ability to provide what they are looking for from the latest pioneering and innovative digital services and solutions and put them in their hands.

good performance

Al-Tayer said that “(Etisalat) has continued to maintain the achievement of good financial performance and a high credit rating, and in a manner that reflects stable long-term performance and great efforts to achieve added value to shareholders,” explaining that “this is embodied through the adoption of a total cash dividend to shareholders. By 80 fils for the full year of 2019, which represents a 5% return on dividend, in addition to an 80% profit distribution. ”

He emphasized «the ability (Etisalat) over the years of its work spanning more than four decades, to meet and fulfill the needs and expectations of millions of its customers across the various markets in which it is located, as it was keen to put the interest of its customers at the heart of everything it does, which is what It enabled it to launch a long list of services and digital and innovative solutions, which played a pivotal role in enriching the daily lives of its customers and making them more accessible and easy.

Successes

For his part, CEO of Etisalat Group, Eng. Saleh Abdullah Al-Abdouli said: “I am pleased to confirm that the trip (Etisalat) during the year 2019 came as a continuation of a long journey of unprecedented successes and achievements, during which it was based on an ambitious vision, and a constructive strategy.” He pointed out "These elements and elements resulted in achieving results that reflect the aspirations of Etisalat and its aspirations to lead a sector characterized by rapid development and growth, in addition to achieving added value for its shareholders and customers alike."

Spread

Al-Abdouli added that “after its acquisition of Tigo Chad, there are 16 markets spread across the Middle East, Asia and Africa, and have worked hard to provide innovative digital services and solutions, through these markets to more than 149 million subscribers.”

He continued that «investment for growth, maintaining a superior and sustainable infrastructure, and possessing diverse assets, platforms and capabilities, was an integral part of (Etisalat) efforts to build networks for a better future through all of its operations, until (Etisalat) today became 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, to be a real testimony to the effectiveness of sincere efforts, which sought to build a successful brand in the telecom sector on The level of Uttered ».

Balanced performance

Al Abdouli affirmed that «Etisalat» succeeded during the past year in achieving a balanced performance through its various businesses, as it was accompanied by strong financial results, despite the multiple regional and global economic and organizational challenges witnessed by the telecommunications sector, explaining that the consolidated group revenue reached 52.2 billion dirhams Meanwhile, consolidated net profit grew to 8.7 billion dirhams.

He pointed out that Etisalat had the lead in launching the fifth generation network, as this new technology boom promises endless horizons, enriches the community with many exceptional solutions and services, and creates new opportunities for all sectors, as it incubates the most important emerging technologies, 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.

first place

The CEO of "Etisalat Group", Saleh Al-Abdouli, said that while Etisalat continues its efforts in spreading and enabling the fifth generation network in the country, it has achieved a new global achievement added to its list of achievements in the field of optical fibers, with the UAE obtaining First place in the world, and for the third year in a row, in terms of the penetration of the fiber optic network for homes «FTTH».

The total number of Etisalat Group subscribers is 149 million.