Media ININ Economy We Trust
19-02-2019 Media in \Abu Dhabi
Etisalat Group posted a net profit of AED 8.6 billion for the 12 months ended 31 December 2018 with a growth rate of 2.4% over the same period of 2017.
The Group’s consolidated revenue reached AED 52.4 billion, a growth of 1% over the same period last year.
The total number of subscribers reached 141 million with an annual growth rate of 1%.
The board of directors has proposed a dividend of 40 fils per share for the second half of 2018, a cash dividend of 80 fils for the full year and a dividend of 81 per cent.
Both S & P Global and Moody’s affirmed the high credit rating of Etisalat Group of AA- / Aa3.
Commenting on the financial results for 2018, Essa Mohammed Al Suwaidi, Chairman of Etisalat Group, said: “Our trip in 2018 was a continuation of our previous successes towards achieving Etisalat Group vision to lead the digital future to empower communities. The good performance demonstrated by the Group is a true embodiment of sincere efforts to maintain Business momentum as well as focus on enhancing digital capabilities, capturing new growth opportunities and increasing operational efficiency. ”
“Today, we look forward to the future positively, based on solid ground of success and leadership, and we reiterate Etisalat’s determination to continue to innovate and focus on driving digital transformation and leveraging future opportunities that enable the Group to deliver value to customers and shareholders. A comprehensive portfolio of products, services, integrated solutions and innovative digital platforms that they are looking for. ”
He thanked the wise leadership of the State for its continuous and continuous support to the telecommunications sector and for its insightful vision which formed the driving force of Etisalat Group to achieve success. He also thanked the shareholders for their steadfast support and millions of customers in the various markets in which the Group maintains their firm trust and continued loyalty. And thanks to the management team for its commitment and dedication to the performance of its roles and functions.
“The year 2018 has been very impressive in terms of our digital journey,” said Saleh Abdullah Al Abdooli, Chief Executive Officer, Etisalat Group. “The Group has shown flexibility in dealing with many of the challenges facing the telecommunications sector as well as taking advantage of all opportunities to promote growth. The future of this field and in a way that contributes to the progress of ‘Etisalat’ with confidence and stability towards tomorrow, supported by its ambitious strategic objectives to accelerate the digital transformation to enrich the overall customer experience and maximize value added to customers and shareholders.
“The results achieved by Etisalat Group in 2018 demonstrate its ability to adapt to the dynamic changes taking place in the telecommunications sector around the world. The Group’s strategy of leading the Digital Future for Community Empowerment has created and adopted the latest digital solutions and services at the level of The world and employ them for the benefit of customers in both the private and business sectors. ”
He stressed that the continuous and continuous efforts of Etisalat Group to launch the fifth generation network will allow customers to enjoy the latest and innovative digital services and solutions, reflecting the status of ‘Etisalat’ innovation at the core of its strategy, which enabled it to build and strengthen one of the most sophisticated networks in the world “He said.
The subscriber base in the United Arab Emirates reached 12.6 million and Etisalat subscribers reached 141 million subscribers, an annual increase of 1%.
Etisalat’s consolidated revenues for the fourth quarter of 2018 were AED 13 billion. The consolidated net profit for the fourth quarter of the year was AED 2 billion, an increase of 2.4% over the same period last year, resulting in a net profit margin Amounted to 16%.
Earnings per share for the fourth quarter of 2018 reached 23 fils and 99 fils for the full year 2018, an increase of 2.4% over the same period last year.
