Page 27 - SAMENA Trends - March 2020

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Etisalat AGM Approves Full-Year 2019 Dividends

of 80 Fils per Share

At Etisalat’s Annual General Meeting (AGM), strategic goals.” Eng. Saleh Abdullah revenues stood at AED 52.2 billion, while
held at the company’s headquarters in Al Abdooli, GCEO, Etisalat Group said”: consolidated net profits growth to AED
Abu Dhabi, shareholders have backed the “I am proud to announce another great 8.7 billion. We managed to confine the
board’s recommendation to pay full-year year for Etisalat Group. Our results are negative impact of various challenges
2019 dividends of 80 fils per share. Etisalat driven by an ambitious vision, a focused with successful initiatives that aimed
Group consolidated revenues reached AED strategy, and sheer determination. This at maximizing synergy at group level,
52.2 billion while consolidated net profit also affirmed our technological leadership enhancing efficiency, and rationalizing
after Federal Royalty reached AED 8.7 in a rapidly evolving ecosystem, and costs. “5G is a game changer with Etisalat
billion an increase of 1% compared to the ensured value creation for our customers taking the lead in the launch of the network
same period last year. and shareholders. “With the acquisition which will amplify the use of futuristic
H.E. Obaid Humaid Al Tayer, Chairman, of Tigo Chad, Etisalat Group is now services, target new opportunities and
Etisalat Group said: “As we begin our operating in 16 markets while enriching implement 5G use cases across verticals.
journey into the next decade, 2019 was the lives of over 149 million subscribers. This has also set the roadmap for services
a testimony to Etisalat Group leadership Investing for growth, sustaining a superior based on emerging technologies such
locally and internationally. Etisalat infrastructure, possessing differentiated as IoT, cloud, big data, AI, robotics,
continued reinforcing its core business, assets, platforms and capabilities were autonomous, AR/VR, becoming a trusted
explore new growth opportunities, while integral to building a network for a better partner that supports transformation in
transitioning to the digital era and being future across our markets. Etisalat today is a digitally disrupted and fully connected
well geared for the future. “Etisalat Group recognized as the most valuable consumer world. Our continuous investments in the
has led the digital transformation by and telecom brand in the MEA region for network also led Etisalat to be recognized
proactively responding to technological the third and fourth consecutive year as MENA’s fastest mobile network and
advancements and bringing the latest respectively, an illustration of our long- GCC, Africa, Arabian region’s fastest fixed
global innovations to nurture creativity. standing efforts and testament to building broadband network”. “While we continue
Digital transformation is becoming present a successful telecom brand in the region”. to deploy innovative 5G networks, Etisalat
in more areas of life, and we have striven to He underlined: “In 2019, Etisalat Group has has also set global benchmarks in Fiber
be at the forefront leading it. Our current delivered a balanced performance across to the Home (FTTH) by maintaining the
success is a result of understanding the its different aspects, along with solid UAE’s position as a global leader for the
need our customers have to rely on Etisalat financial results despite the challenging third consecutive year. “At the end, I am
to deliver. “Etisalat Group continued to economical scene at global and confident that Etisalat Group will deliver
achieve strong financial performance and regional scales.. Company consolidated the ambitions and aspirations of our
maintained its high credit rating (AA-/Aa3)
reflecting a proven long-term performance
and efforts to provide value to shareholders,
which was the drive behind proposing a
final dividend of AED 0.8 representing a
dividend yield of 5% and dividends payout
ratio of 80%. “For more than four decades,
Etisalat has been able to meet the needs
and expectations of millions of customers
across our footprint. Enhancing customer
experience remains at the core of our
strategy enabling us to launch innovative
services and solutions making a positive
impact on their daily lives. “This was only
possible due to a decade of continuous
support and vision of the UAE leadership,
the loyalty of our customers and the trust
of our shareholders. A special thanks
to Etisalat management team for their
commitment and dedicated work towards
the realization of Etisalat’s vision and

27 MARCH 2020