KHALEEJ TIMES, Thursday, Feb 13, 2020 | Jamadi Al Thani 19, 1441
Etisalat's 2019 profit up 1% to Dh8.7 billion
Emirates: Etisalat profit for
2019 rose one per cent to Dh8.7 billion compared to Dh8.6 billion in the
previous year, the telecom giant said in its unaudited preliminary results sent
to Abu Dhabi Securities Exchange on Wednesday.
Its earnings per share grew from Dh0.99 to Dh1 year-on-year basis.
The company will announce its audited consolidated financial statement after the
approval of the board of director's meeting to be held on February 18. The board
of directors will also discuss proposal for distribution of final dividends for
According to etisalat's unaudited statement, consolidated revenues dipped
marginally 0.4 per cent to Dh52.18 billion, blaming decrease in revenues of
international operations due to currency fluctuations and decrease in the mobile
revenue of UAE operations.
Total assets grew from Dh125.2 billion in 2018 to Dh128.2 billion in 2019, up by
2.4 per cent. Its operating profits dropped from Dh12.67 billion to Dh11.79
Etisalat has been investing heavily in new technologies, especially in 5G. In
December 2019, the telecom giant deployed Multi-Access Edge Computing (MEC)
implementation that will pave the way for etisalat to roll out new 5G-styled
services, beginning with its Content Delivery Network (CDN).
MEC is a network architecture that brings real-time, high-bandwidth, low-latency
access to radio network information, allowing operators to open their networks
to a new ecosystem and value chain. The deployment of MEC architectures will be
critical for 4G/5G service providers, as it allows them to significantly reduce
latency, which is essential for delivering the new breed of revenue-generating
services such as virtual reality gaming, autonomous driving, augmented reality,
IoT, and many others.
In January, etisalat, in cooperation with Ribbon Communications, launched
first-of-a-kind cloud-based business unified communication and collaboration
service for small and medium businesses and enterprise customers in the UAE.
In January, etisalat was named 'The Most Valuable Consumer Brand' and 'The Most
Valuable Telecom Brand' in Middle East and Africa (MEA) by Brand Finance. The
brand value increased to $8.5 billion as the most valuable consumer brand in MEA
for a third consecutive year on a standalone basis. Etisalat is also the only
telecom brand to retain AAA brand rating.