ABU DHABI 21 February 2018: Etisalat Group announced its consolidated financial statements for the 12 months ending December 31 2017.
Financial Highlights and Key Developments for 2017
Etisalat UAE subscriber base reached 12.6 million, representing a year on year growth of 3%.
Etisalat UAE revenues amounted to Dh31.2 billion and increased year over year by 3%.
Etisalat UAE net profit after federal royalty amounted to Dh8.2 billion and increased year over year by 5%.
Etisalat UAE Full year EBITDA in 2017 increased by 2% to Dh16.7 billion resulting in EBITDA margin of 53%.
Proposed dividend payout of 40 fils per share for the second half of 2017, representing a total dividend payout of 80 fils for the full year and a dividend payout ratio of 82%.
Credit Ratings by agencies S & P Global and Moodys affirmed Etisalat Group’s high credit rating at AA-/Aa3.
Etisalat launched ““swyp” the new digital brand targeting the youth and digital millennials in the UAE
Etisalat launches first IPX Exchange platform in MEA, which will augment its already existing SmartHub data center services.
Etisalat launched 4G service in Egypt.
Etisalat selected as the digital transformation partner for Dubai International Financial Center (DIFC)’s FinTech accelerator program.
Etisalat launched M2M in-vehicle WiFi enabling connected fleets businesses as part of its next generation IoT solutions.
E-Vision Partners with MBC GROUP in Exclusive IPTV/OTT Channel Distribution Rights deal in the UAE
Etisalat introduced ‘Create Your Number’ service for all post-paid subscribers first time in the UAE.
Etisalat Chairman, Eissa Mohamed Al Suwaidi, said: “2017 proved to be yet another year of good achievement for Etisalat as we affirm our position as the leading operator in the markets where we operate. Maintaining good performance, despite the global challenges facing the telecom industry, is an evidence that we continue to provide value to our customers and shareholders.
“We remain in a strong position to realise the opportunities that will come with the digital transformation the group is undergoing. Thanks to our experience and our strategic focus on innovation, Etisalat Group is well placed to harness growth opportunities as we continue to move forward.
Saleh Abdullah Al Abdooli, Group Chief Executive Officer, Etisalat, said: “In 2017, Etisalat Group continued to deliver on its promise of strong performance despite the increasing global economic challenges and the mounting pressure facing the telecom industry. We have showcased good results underpinned by our continued commitment and investments toward next-generation services and solutions adding remarkable value to the communities we serve and enhance overall customer experience.
“Last year Etisalat Group launched a new corporate strategy focusing on ‘Driving the Digital Future to Empower Societies’ enabling us to consistently push our boundaries, by responding swiftly to the global digital advancements and proactively delivering cutting-edge services and solutions to our customers. The establishment of the ‘Open Innovation Center’ was a strategic step in this direction allowing us to highlight digital innovation, its capabilities and how digitalization can come to life for Etisalat customers, businesses and governments.
“We will continue to focus on creating the world’s best and leading networks across our markets to deliver long-term value to all our stakeholders. The successful launch of the first pre-commercial 5G in UAE will enable our nation and businesses to achieve transformational growth by leveraging on new-age technologies like IoT, Artificial Intelligence (AI), robotics, cloud and future technologies that will reshape our society and industry on a large scale.
Subscribers:
Aggregate subscriber base reached 142 million, representing a year over year increase of 1% on a like for like basis.
In the UAE the subscriber base grew to 12.6 million subscribers in the fourth quarter of 2017 representing a year on year growth of 3%.
Revenues:
Etisalat Group’s consolidated revenue for the fourth quarter of 2017 amounted to Dh13.5 billion, representing an increase of 4% in comparison to the same period last year.
In the UAE, revenue in the fourth quarter increased year on year by 3% to Dh8.1 billion.
EBITDA :
Group Consolidated EBITDA for the fourth quarter of 2017 increased by 3% year on year to Dh6.4 billion.
In the UAE, EBITDA in the fourth quarter of 2017 was Dh4.1 billion increasing year-over-year by 2% leading to an EBITDA margin of 51%.
NET PROFIT:
Consolidated net profit after Federal Royalty reached to AED 2 billion in the fourth quarter of 2017.
Earnings per share (EPS) amounted to Dh0.23 in the fourth quarter.