ABU DHABI 11 April 2017: The total operating expenses of Emirates Telecommunications Group Company PJSC (Etisalat), amounted to Dh34.6 billion from Dh32.75 billion last year.
The 5.6 percent growth, which excludes the royalty fees to the Federal Government, comes on the back of business development and strong performance by the group in 18 markets across the world, said Wam.
The group’s total operating profits rose to Dh11.4 billion, with net profits increasing by 2 per cent, compared to the previous year, to reach Dh8.4 billion. The earnings per share rose to Dh1.02.
As per the company’s financial statements, Dh11.6 billion of direct sale transactions were conducted in 2016, accounting for 33.5 per cent of the total operating expenditure, while the consumption value reached Dh5.7 billion during the same period.
Employee payroll was Dh5.17 billion by end of December from 5.4 billion by end of 2015. Etisalat’s network and other related expenses hit Dh2.88 billion. Organisational and marketing costs reached Dh2.55 billon, and offsetting losses stood at Dh1.67, with the remaining costs divided over operating rentals, exchange losses and other operating expenses.
According to the financial statements, Etisalat considers the government’s concession fees, which totaled Dh5 billion in 2016, as an operating expense in its profit and loss statement on the basis that the expenses that should be borne by the company as a result of using the federal government’s facilities will have to considered as operating costs.
Etisalat’s shareholders on 9th April approved the board’s recommendation to pay full 2016 dividends of 80 fils per share during the annual general meeting.