Etisalat Chairman, Eissa Mohamed Al-Suwaidi, said: “Our journey in 2018, marks another successful year for Etisalat in realizing its vision towards leading the digital future to empower socialites. Etisalat’s solid financial performance is a reflection of our focus on sustaining our core business while enhancing and accelerating our digital portfolio. There was an increased effort on diversifying into new growth opportunities transforming Etisalat into an agile, digital and more efficient company.
Today, we look at the future with optimism as we are determined to progress on solid grounds and continue innovation while focusing on driving the digital transformation to take advantage of future opportunities enabling us to add greater value to our customers and shareholders. Our continued efforts will provide consumers a wide portfolio of innovative products and services, integrated solutions, and digital platforms.
“I want to thank the wise leadership of the United Arab Emirates, President HH Sheikh Khalifa bin Zayed Al Nahyan, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces for supporting the telecom sector and for their vision for the UAE that helped fuel our success. Thanks to the steady support of our shareholders, loyalty of millions of our customers across our footprint, and to the commitment and hard work of the management team.”
Engineer Saleh Abdullah Al Abdooli, Group Chief Executive Officer, Etisalat, said: “Etisalat had a landmark year in 2018 as we embarked on a successful journey into the digital future seizing opportunities and overcoming challenges in a fast evolving industry. Etisalat is moving forward with confidence setting new goals to drive digital transformation across the company, its customers and stakeholders.
“Etisalat’s performance in 2018 is a testimonial of the Group resilience and ability to mitigate the pressures arising from the dynamic challenges facing the industry. Etisalat’s strategy ‘Driving the digital future to empower societies’ helped deliver a digital experience and enable innovation across our customers and businesses.
“With continuous efforts towards delivering the 5G promise, Etisalat’s pioneering efforts will allow our customers to enjoy and unleash highly connective technologies blending physical and digital realms from AR and VR to IoT, AI, autonomous vehicles, advanced robotics, 3D printing, wearable tech and more. Innovation remains at the core of our strategy with a focus on empowering digital transformation by enhancing and building one of the most advanced networks in the region.
“In 2018 we pursued an ambitious agenda in the digital space to maintain our leadership position across our operations. Our focus remains on providing governments, businesses and individuals with innovative, simple, and relevant solutions that harness the power of technology and maximizes their potential.
“I am confident that Etisalat Group will deliver the ambitions and aspirations of our customers, by capitalizing on its knowledge, vast capabilities, talent, assets, and its strong financial performance. We will continue to support the communities we serve and add value to the markets where we operate. Customer experience remains a key area of focus in which we will strive to provide our customers with a superior service level on top of our high quality products.”
“We are thankful to the wise leadership of the UAE and our shareholders for their steady support in this journey, our customers for their continued confidence and trust. I am confident that 2019 will continue the outline of long-term, sustainable success that is the hallmark of Etisalat Group.
In the UAE, the subscriber base reached to 12.6 million subscribers, while Etisalat Group aggregate subscribers reached 141 million subscribers representing a year on year increase of 1%.
Revenues and Net Profit
Etisalat Group’s consolidated revenue for Q4 of 2018 amounted to AED 13.0 billion. While consolidated net profit after Federal Royalty in Q4 amounted to AED 2.0 billion representing an increase of 2.4% in comparison to the same period last year resulting in a net profit margin of 16%.
Earnings per share (EPS) amounted to AED 0.23 in the fourth quarter and AED 0.99 for the full year of 2018, an increase of 2.4% in comparison to the same period last year.
© Press Release 2019