Etisalat profit up 5%

dubai — Telecom leader Etisalat said its 2017 profits after federal royalty rose to Dh8.2 billion, up by five per cent.

In the UAE, the telecom operator’s subscriber base reached 12.6 million, representing a year on year growth of three per cent as revenues surged by three per cent to Dh31.2 billion.

The telecom company said in the UAE, its full year EBITDA (earnings before interest, taxes, depreciation and amortisation) in 2017 increased by two per cent to Dh16.7 billion resulting in a margin of 53 per cent.

The company proposed a dividend payout of 40 fils per share for the second half of 2017, representing a total dividend payout of 80 fils for the full year and a dividend payout ratio of 82 per cent.

Etisalat Chairman Eissa Mohamed Al Suwaidi, said 2017 proved to be yet another year of good achievement for etisalat as the company affirmed its position as the leading operator in the markets where it operates.

“Maintaining good performance, despite the global challenges facing the telecom industry, is an evidence that we continue to provide value to our customers and shareholders. We remain in a strong position to realise the opportunities that will come with the digital transformation the group is undergoing.”

Saleh Abdullah Al Abdooli, Group Chief Executive Officer, etisalat, said Etisalat Group continued to deliver on its promise of strong performance despite the increasing global economic challenges and the mounting pressure facing the telecom industry.

“We have showcased good results underpinned by our continued commitment and investments toward next-generation services and solutions adding remarkable value to the communities we serve and enhance overall customer experience.“

— issacjohn@khaleejtimes.com