It overcame the repercussions of "Covid-19" with great success... and was the least affected compared to the sector companies around the world
«Etisalat»: The market value reaches a historical level and records 215 billion dirhams
Etisalat attributed the rise in its market value to government plans that contributed to attracting more foreign investments.
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The CEO of the Emirates Telecommunications Group (Etisalat), Eng. Hatem Dowidar, revealed that the market value of the group recently amounted to about 215 billion dirhams ($58 billion), reaching an unprecedented historical level.
Dowidar attributed this unprecedented rise to government plans, which contributed to attracting more foreign investments through a series of new laws, foremost of which is raising the percentage of foreign ownership, to reach 49% of the group’s shares, as well as the group’s strategic plans for business continuity and management. Crises, turning challenges into opportunities.
Covid-19 crisis
Dowidar confirmed in press statements on the occasion of "GITEX Technology Week 2021", which starts its work today, Sunday at the Dubai World Trade Center, that "Etisalat Group" was able to overcome the crisis caused by the "Corona" virus pandemic with great success, as the group relied on three parallel axes that included Advance plans for emergencies, crises and business continuity characterized by efficiency, flexibility and renewal, and were linked with government plans that proved their readiness to face the crisis, as well as the group's possession of infrastructure and network capabilities of high efficiency and reliability in the markets in which it operates internally and externally, which contributed to absorbing the increasing demand for the services sector Communications during the pandemic, in addition to work teams capable of managing operations in various circumstances.
less affected
Dowidar pointed out that "Etisalat" was the least affected by the pandemic, compared to the telecommunications sector companies around the world, at a time when the UAE topped the world's countries, in the spread and access to the fiber-optic network, which enabled all users, individuals and institutions, to manage their businesses remotely during quarantine periods. home, and during national sterilization programmes.
Dowidar attributed the group's preservation of satisfactory growth rates during the pandemic period, to the pressure and rationalization of operating expenses, which did not affect users at all, as the increases in revenues were very slight, especially since most homes in the UAE are already connected to the fiber-optic network. Subscribers with unlimited use packages, so that they were able to manage work processes and distance learning with high efficiency and smoothness, stressing that the growth was also reflected in the economic growth of some of the main markets in which the group operates.
new services
Dowidar pointed out that some sectors witnessed a clear contraction during the pandemic period, which led to a decline in the group’s revenues from these sectors, but the group resorted to providing new digital services to other sectors, created by the crisis, such as “cloud computing”, various digital solutions, and cybersecurity. .
He referred to the preparations made by the government and partners in the sector, including the Telecommunications Regulatory Authority and the digital government, to obtain full readiness to meet the challenges of the stage, which facilitated the completion of work and the provision of vital services to individuals and society.
high flexibility
The CEO of Etisalat Group affirmed that despite the unprecedented circumstances and challenges in its main markets, Etisalat
It continues to achieve high levels of performance, thanks to its flexibility and speed in dealing with these challenges, and home Internet usage rates have increased by 40%, due to the company's enormous network capabilities proven by the pandemic conditions.
He said that the impact of this performance was positively reflected on the results of the financial group for the first half of this year, as the value of its consolidated revenues amounted to 26.4 billion dirhams, an annual increase of 3.2%, and its consolidated net profit after deducting the federal franchise amounted to 4.7 billion dirhams. Contributes to maintaining its high credit rating.
"GITEX Technology"
Dowidar revealed that Etisalat's slogan at GITEX Technology Week this year is "enabling the new digital age" and highlighting how to take advantage of technology in the new digital economy, to be more flexible in facing challenges, and to create new, sustainable and inclusive business models. Beyond the “Covid-19” pandemic, as well as enabling the next era of digital technology, as 5G networks, artificial intelligence technologies, the “internet of things”, machine learning, and others enable completely new lifestyles.
digital transformation
At the same time, Dowidar stressed that promoting digital transformation remains one of Etisalat's top priorities during the coming period, as the group will continue to invest in infrastructure, and enable customers to digital transformation, by providing cloud computing, ICT services, and providing the latest communication devices. In addition to entering into partnerships and cooperation projects with giant companies working in the areas of security and safety, the Internet of Things, and smart meter projects for electricity, water and gas, noting that digital payments have been strengthened, digital self-service options are implemented, and customer experiences are transformed into sales. Online retail, digital channels, and “smart stores”.
Dowidar pointed out that "Expo 2020 Dubai" is a prime example of communications solutions and services, which aim to enhance the digital experience of visitors, using technologies such as "virtual" and "augmented" reality, stressing that services hosted on the private and public clouds are considered One of the main priorities is to provide flexibility and availability of connectivity at Expo 2020 Dubai, site offices, partners, public services, and enterprise services.
He revealed that the "Internet of Things" platform of "Etisalat" has linked more than one million SIM cards with important government agencies, such as Emirates Transport and the Ministry of Interior, within the framework of the smart service "Hassantak" for early warning of fire, which has a tremendous impact in enhancing the case of Security and safety in the country.
Hatem Dowidar:
"(Etisalat) continues to achieve high levels of performance thanks to its flexibility and speed in dealing with challenges."
(Etisalat) continues to invest in infrastructure and enable customers to digitally transform.
3 parallel axes to manage the “Covid-19” pandemic crisis
■■ Advance plans for emergencies, crises, and business continuity characterized by efficiency, flexibility and innovation.
■■ The Group possesses highly efficient and reliable infrastructure and network capabilities in the markets in which it operates.
■■ Work teams capable of managing operations in various circumstances.
"Etisalat" .. 16 main markets
Hatem Dowidar, CEO of Emirates Telecommunications Group (Etisalat), said that Etisalat, which operates in 16 markets in the Middle East, Asia and Africa, as well as the UAE, is constantly and continuously working to expand innovative digital services and solutions in the various markets it operates. It can also enter new markets, as a normal telecommunications operator, or enter these markets through telecommunications services, as it is possible to provide services in markets where it does not have a presence, in cooperation with telecommunications networks in those markets.
He added that Etisalat also continues to focus on and support the markets in which it is currently located, by maintaining a strong international business portfolio as a major and sustainable driver of future growth.
He pointed out that some of the markets in which Etisalat operates witnessed strong performance during the first half of this year, especially in the "Maroc Telecom" and "Etisalat Misr" groups, which resulted in an annual increase in the number of group subscribers by 7%. The total number of subscribers reached 156 million, which reflected positively on the revenues of international operations.
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