Records 21 percent year on year revenue growth from international operations
Dubai, 2nd May, 2012: Leading telecommunications operator Etisalat, which has operations in 17 markets across the Middle East, Africa and Asia, is eyeing further growth from its international operations following 21 percent year on year revenue growth outside of its home market of the United Arab Emirates.
In releasing its first quarter results in April, the Abu Dhabi headquartered company announced strong growth in international operations as it implements a successful strategy of diversifying revenue across geographies and sectors.
Speaking at the TMT Finance & Investment Middle East conference in Dubai, Etisalat Group chief executive officer Ahmad Abdulkarim Julfar said: "As the incumbent operator in the UAE we are always likely to come under pressure from competition in our home market but, by prudent investment in Next Generation Networks, delivering innovative services that help transform economies and enhance the customer experience, and through considered international expansion, we are successfully shifting our business model to higher margin services and driving growth in underpenetrated emerging markets."
In the last quarter Etisalat has witnessed strong performance from its operations in Saudi Arabia, Egypt, Afghanistan and Nigeria, and it was awarded 3G licences in Afghanistan and Côte d'Ivoire.
While the operator has invested heavily in infrastructure, rolling out Long Term Evolution (LTE - 4G) networks in the UAE and Saudi Arabia and a nationwide Fibre To The Home (FTTH) network in the UAE, it still maintains a robust cash position of AED 11.5 billion (USD $3.13 billion) which it may use for further international expansion.
Ahmad Julfar commented: "We are realising greater cost efficiencies from Group operations and procurement and our view is that there is major growth potential in many of our international operations and in several markets we are yet to enter.
"Telecommunications is a growth engine for emerging economies and by partnering with Internet players we have the networks and infrastructure to deliver content and innovative services to support sustainable long term growth.
"Our successful diversification strategy and investment in network infrastructure is delivering strong results and positive growth in high margin data revenues and Value Added Services as we continue to develop and introduce pioneering mobile innovation in various sectors including financial services and healthcare."
Etisalat has more than 169 million aggregate active subscribers across its operations, and it has been recognised as a global leader in mobile healthcare and mobile commerce services, receiving an unprecedented three Global Mobile Awards at Mobile World Congress 2012 for its innovative Mobile Baby and Mobile Commerce platforms.
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About Etisalat:
Strong commitment to excellence and innovation has seen Etisalat become one of the world's fastest-growing telecom groups, rapidly expanding across Asia and Africa. Its UAE operations, strategically located at the crossroads of East and West, enables Etisalat to be the major hub in the Middle East for Internet, voice, broadcast, roaming and corporate data services. Etisalat has been recognised as 'Best Operator' 10 times since 2006 and 'Best Wholesale Provider' four times in the last three years. Servicing over 167 million customers in 17 countries Etisalat continues to reach out to new customers and markets.
For more information:
Ms. Nahid M. Hassan
Etisalat Group Senior Manager Media Relations
E: nahelsayed@etisalat.ae
T: 0097126172187
M.0506006556
www.etisalat.com
© Press Release 2012
