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Etisalat's annual Consolidated Revenues for 2015 Increase by 7% to AED 51.7 billion

Etisalat revealed today its consolidated monetary statements for the 12 months ending December 31st 2015

Financial Highlights and Key Operational Developments for 2015.
- Aggregate subscriber base reached 167 million;
- Consolidated incomes amounted to AED 51.7 billion and enhanced year over year by 7 %;.
- Consolidated EBITDA completed AED 26.5 billion, leading to EBITDA margin of 51 %;.
- Consolidated net earnings after Federal Royalty totaled up to AED 8.3 billion resulting in a net earnings margin of 16 %;.
- Proposed last dividend payout of 40 fils per share for 2015, representing a total dividend payment of 80 fils for the complete year and a dividend payment ratio of 84 %;.
- Ownership of Etisalat Group equity by foreign financiers and local organizations became effective on 15 September 2015;.
- Maroc Telecom Group awarded 4G+ license and released industrial services in Morocco;.
- Launched a research and development program with international partners for the next generation of innovation: 5G;.
- Announced tactical partnership to establish the options needed to provide M2M and Internet of Things to the marketplace;.
- Etisalat Group releases the very first Internet of Things application platform for businesses in MENA area.
- Launched trials of sophisticated Single Carrier 400 Gbps technology in its transmission network;.
- Etisalat launches Mobile Cashier - the first-of-its-kind option in the UAE - allowing company consumers to accept credit, debit or prepaid card payments efficiently, and mange money deals through their cellphones; and.
- Etisalat executed fixed-network facilities sharing in the UAE.

Financial Highlights for Q4 2015.
- Consolidated earnings for the 4th quarter totaled up to AED 12.7 billion, while Consolidated net revenue after Federal Royalty amounted to AED 2.6 billion leading to a net profit margin of 21 % and enhanced year over year by 10 %; and.
- Consolidated EBITDA for the 4th quarter completed AED 6.5 billion, representing a boost of 19 % year over year and resulting in EBITDA margin of 51 %.

International Recognition.
- Etisalat won 2 awards for innovation at the GSMA's Global Mobile Awards: 'The Best Use of Mobile for Retail, Brands & Commerce' category for its Mobile Cashier product and 'The Mobile Connect Award for Best Authentication & Identity Solution' for Etisalat Mobile Connect service.
- Etisalat declared Operator of the Year at the 9th annual TMT Finance and Investment MENA.
- Etisalat called the 'Top Telecommunications Company in the Arab World' by Forbes Middle East.
- Etisalat's Mobile Connect service wins the Global Telecoms Award for Business Innovation.

Chairman's Statement.
Etisalat Chairman H.E. Eissa al-Suwaidi said: "2015 showed to be another year of achievement for Etisalat as we consolidate our position as the leading operator in emerging markets. As an outcome of our experience and our investment in innovation, Etisalat Group is well-placed to go from strength-to-strength as we continue to move forward.

"I want to applaud the Government's continued support and for enabling institutional and foreign ownership of Etisalat's equity in 2015. Etisalat is completely behind the Government's drive to develop the UAE as a leader in the telecommunications sector, with the launch of a bit stream contract with du indicative of an industry unified in delivering the finest for the United Arab Emirates within a healthy competitive environment.

"With the steadfast assistance of the management and our shareholders, in addition to the commitment of our world-class workers and the commitment of our countless customers, I remain in no doubt that 2016 will continue the pattern of long-lasting, sustainable success that is the hallmark of Etisalat Group.
"Mr. Ahmad Julfar has presented his resignation as the Chief Executive Officer of the Group for individual factors. The Board accepted his resignation and selected Mr. Hatem Dowidar as Acting CEO.

"I would like to thank Mr. Julfar for his contribution to the achievements of Etisalat Group and the leadership he has actually shown throughout his period. Myself and the Board also want to thank Mr. Julfar and wanted him the very best for his future.".

Performing CEO's Message.

Hatem Dowidar, Group Acting Chief Executive Officer, Etisalat, commented: "First I want to thank Mr. Ahmad Julfar for his excellent contribution; his progressive vision has helped construct Etisalat Group into exactly what it is today. I also want to thank the Board for entrusting me with the obligation of Acting Group CEO in this crucial period. I will be working over the next 3 months with the Board to even more optimise the Group structure.
We are witnessing a digital transformation that has the mobile phone at its centre; a consistent in all our lives. We can only understand the opportunities that are prior to us by investing today in the ingenious options that will produce the new revenue streams and company environment of tomorrow. Development in the future will just materialise if we provide the ingenious solutions that assist federal governments, companies and individuals maximise the potential that innovation imagines, fulfilling both today's and tomorrow's requirements.

"The future of the worldwide telecom market teems with challenges and chances. Whether it is opening new technologies, reforming an out-of-date regulative structure or dealing with intricate international market concerns; Etisalat continues to be in a strong position making real the opportunities that the digital improvement has to offer. As a result of four decades of delivering massive jobs, we have the assets and abilities to offer a value recommendation for the digital age, and positions Etisalat Group firmly as a capable partner for driving economic development within the markets where we run.

"I am confident that the structure of solid, long-term efficiency, combined with our experience and expertise, will guarantee that Etisalat Group continues to provide value to its shareholders and customers. Such confidence is enhanced by the unwavering support of the UAE Government and our shareholders, along with the commitment of our millions of consumers. And I remain in no doubt that we depend on the task of keeping the remarkable record of success that has been our hallmark over the past forty years well into the future.".

Subscribers.
Etisalat Group aggregate subscribers as at 31 December 2015 reached 167 million.
In the UAE the active customer base grew to 11.6 million customers in the fourth quarter of 2015 representing a year on year growth of 6 %.
For Maroc Telecom the customer base reached 50.8 million customers as at 31 December 2015, representing a year over year growth of 26 %.
Nigeria customer base grew to 22.2 million as at December 2015, representing year over year development of 5 %.

Revenues.
Etisalat Group's consolidated income for the fourth quarter of 2015 amounted to AED 12.7 billion while complete year consolidated revenue increased by 7 % to AED 51.7 billion.
In the UAE, earnings in the 4th quarter reached AED 6.9 billion while the complete year income enhanced by 6 % to AED 28.8 billion.
Maroc Telecom consolidated revenue for the fourth quarter of 2015 amounted to AED 3.1 billion representing a year over year growth of 6 %.

EBITDA.
Group Consolidated EBITDA for the fourth quarter of 2015 increased by 19 % to AED 6.5 billion while EBITDA margin enhanced 10 points to 51 % year on year.
In the UAE, EBITDA in the fourth quarter of 2015 was AED 3.9 billion increasing year-over-year by 10 % leading to an EBITDA margin of 56 % in contrast to 51 % in the previous year.

INTERNET PROFIT & EPS.
Consolidated net revenue after Federal Royalty increased year over year by 10 % to AED 2.6 billion in the 4th quarter of 2015 leading to greater revenue margin of 3 indicate 21 %.
Full year net earnings reached AED 8.3 billion resulting in earnings margin of 16 %.
Incomes per share (EPS) totaled up to AED 0.3 in the 4th quarter of 2015 and AED 0.95 for the full year of 2015.

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