|19 February, 2020

Total assets of UAE telecom operators 'Etisalat', 'du' up to $39.5bln in 2019

The net profit secured by Etisalat and du in 2019 grew to around $2.83bln from $2.82bln in 2018

Image used for illustrative purpose People use their mobile devices to take selfies from Burj Khalifa, the tallest building in the world, in Dubai November 19, 2014.

Image used for illustrative purpose People use their mobile devices to take selfies from Burj Khalifa, the tallest building in the world, in Dubai November 19, 2014.

REUTERS/Ahmed Jadallah

ABU DHABI - The total assets of Emirates Telecommunications Corporation, Etisalat, and the Emirates Integrated Telecommunications Company, du, increased to AED145.12 billion in 2019, a YoY growth of around 2.8 percent from AED141.74 billion.

The financial statements announced by the two listed companies show their total combined revenues hit AED64.8 billion in 2019, while the royalty fee they paid to the government stood at circa AED7.85 billion.

The net profit secured by Etisalat and du in 2019 grew to around AED10.43 billion from AED10.36 billion in 2018, according to the two companies' official figures.

In more detail, the profits of Etislat edged up to AED8.7 billion in 2019 from AED8.61 billion in 2018.

Etisalat's assets amounted to AED128.266 billion in 2019, compared to AED125.243 billion in 2018, with the revenue hitting AED52.2 billion by the end of 2019.

On the other hand, du's 2019 net profit slightly declined to AED1.736 billion from AED1.752 billion in 2018.

The total revenue of du reached almost AED12.6 billion last year, with the company's total assets having increased from AED16.5 billion 2018 to AED16.85 billion in 2019.

© Copyright Emirates News Agency (WAM) 2020.

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