5G and next generation connectivity underpin strong financials for Etisalat in 2019
Etisalat’s board has approved a dividend of 80 fils per share, following strong FY2019 report
The Middle East’s most valuable telco, Etisalat, has approved a shareholder dividend of 80 fils per share, following a strong performance in 2019, built on the company’s solid investment in next generation connectivity.
Last year, Etisalat grew its aggregated subscriber base to 149 million users, a net gain of 6 per cent.
During 2019, Etisalat further cemented its reputation as one of the most ambitious telcos in the region, investing heavily in both its 5G mobile network and its fibre to the home fixed line assets.
“Etisalat Group has led digital transformation by proactively responding to technological advancements and bringing the latest global innovations to nurture creativity. Digital transformation is becoming present in more areas of life, and we have striven to be at the forefront leading it,” said H.E. Obaid Humaid Al Tayer, Chairman of Etisalat Group.
At the company’s AGM, Etisalat revealed a strong full year report for 2019, which saw consolidated revenues reach AED 52.2 billion and consolidated EBITDA grow by 2 per cent to AED 26.4 billion
Etisalat was among the first telcos in the world to launch 5G mobile network services last year, with its nationwide launch in the UAE. It has retained a leadership position on next generation connectivity in the region and continues to invest significantly in its network infrastructure.
“5G is a game changer with Etisalat taking the lead in the launch of the network which will amplify the use of futuristic services, target new opportunities and implement 5G use cases across verticals. This has also set the roadmap for services based on emerging technologies such as IoT, cloud, big data, AI robotics, autonomous, AR/VR, becoming a trusted partner that supports transformation in a digitally disrupted and fully connected world. Our continuous investment in the network also led Etisalat to be recognised as MENA’s fastest mobile network and the GCC, Africa and Arabian region’s fastest fixed broadband network,” said Eng. Saleh Abdullah Al Abdooli, GCEO, Etisalat Group.
Earlier this year, Etisalat was named as the Middle East’s most valuable telecom brand, in a report published by Brand Finance. The report valued Etisalat Group, including its many international subsidiaries, at close to $11 billion.