Live Currency Rates
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE- Etisalat Group Posts Positive 2012 Results  Join our daily free Newsletter

MENAFN - Emirates News Agency (WAM) - 20/02/2013

No. of Ratings : 0
Add to Mixx!


(MENAFN - Emirates News Agency (WAM)) Etisalat Group today announced its consolidated financial results for the year ending 31st December 2012 showing two percent year-on-year growth.

Results declared to the Abu Dhabi Securities Exchange indicated Etisalat Group's net revenue for the year was AED 32.9 billion, up 2% year on year and its net profit increased to AED 13.2 billion before Federal Royalty, up 27% year on year. Upon ratifying the results, Etisalat Group's board approved a full year dividend of 70 fils (AED 0.70) subject to shareholder approval.

Eissa Al Suwaidi, Chairman at Etisalat Group, said: "Strong results in 2012 have demonstrated Etisalat's positive performance in 2012 and enabled Etisalat Group to distribute a total dividend of 70 fils per share (25 fils already paid and 45 to be paid), and in doing so reward our shareholders for their loyalty with added-value on their investments.

"Throughout the year, we continued to invest in emerging markets in the Middle East, Africa and Asia, where we now reach over 139 million customers in 15 countries.

"Our commitment to development through information and communications technology not only positively impacts regional economies through job creation and boosting the gross domestic products in the countries where we operate, but it also positions us to reap the benefits of investing in these rapidly growing economies in the future. In 2012, Etisalat Group benefited from strength and consistency in the UAE market, where it consolidated its position as the largest provider of telecommunications services to the local market.

"Our achievements in 2012 would not have been achieved without the support of H.H. the President, H.H. the Prime Minister, H.H. the Crown Prince of Abu Dhabi and the UAE government's continued support for Etisalat. I'd also like to acknowledge the support of the governments and regulators in all of our operating countries and thank our customers for their loyalty throughout the year.

"Overall, 2012 has been a very positive year for Etisalat Group." Commenting on the results, Ahmad Abdul Karim Julfar, Group CEO, Etisalat Group said: "The 2012 results reflected strong performance across the Group operating companies and marking significant steps towards Etisalat Group's vision of becoming one of the leading telecommunications companies across emerging markets.

"Etisalat Group enjoyed a strong increase on net revenue from its international operations in 2012, reflecting the added-value investments Etisalat Group has put in to its operating markets to increase customer retention and acquisition and reinforce its commitment to delivering new technologies and services that help enable communities to transform for the better.

"Those investments in new technologies and services included building and investing in the networks of the future, including FTTH and LTE in countries like the UAE and KSA, being the first provider of 3G services in Afghanistan and through the delivery of innovative solutions through applied technology such as mHealth and mCommerce, M2M and cloud networking. We will continue to study means to enhance our services to existing customers that help to shape the way we live and work and accelerate social development and economic growth.

"The investment in Next Generation Networks and in introducing value-added services also had a positive impact on subscribers attracting an increase to our global subscriber base to 139 million subscribers. The consolidated growth was driven mainly by increases in subscribers across all markets of operation.

"Our focus moving forward will be on continuing to developing the level of service and meeting the expectations and demands of our customers in key markets. We are committed to building the right partnerships with key players to deliver applied services that will improve our customers' lives for the better. Our ongoing investment in innovations in communities across our footprint and the significant increasing demand for broadband and digital services means that Etisalat Group is well positioned to continue to deliver added value to its subscribers, the communities it serves and the Group's shareholders, and will continue to set the tone for 2013 and beyond.

"Part of our commitment to our shareholders is that through our continued success we aim to maintain similar dividend distribution over coming years of operation."


  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Egyptian Premier Off to Chad ,Qatar News Agency
(MENAFN - Qatar News Agency) Cairo April 24 - Egyptian Prime Minister Ibrahim Mehlib left cairo on Thursday for Chad the first leg of a three-day two-state trip that will also take him to Tanzania ...

Apr 24 2014Australian Federal Parliament Deputy Speaker Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Canberra April 24 - Australian Federal Parliament Deputy Speaker Bruce Scott met here Thursday with HE Qatar's Ambassador to Australia Yousef bin Ali Al ...

Apr 24 20143 GCC countries among top 30 on network readiness index ,MENAFN
(MENAFN) According to an annual global technology survey for network readiness index for 2014, three GCC countries have made it to the top 30 list for the third year in a row, Gulf Daily News ...

Apr 24 2014Morocco Admitted As Observer Member to SICA ,Qatar News Agency
(MENAFN - Qatar News Agency) La Romana Dominican April 24 - Morocco has been admitted as an observer member in the Central American Integration System (SICA) which also includes each of Belize ...

Apr 24 2014Dubai SME ties up with Taylor Wessing to raise awareness on Intellectual Property and fund-raising among SME100 firms ,MENAFN Press
(MENAFN Press) Dubai SME, the agency of the Department for Economic Development in Dubai mandated to develop the SME sector, have signed a memorandum of understanding (MoU) with the international law ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014Israeli Tanks Enter Gaza Border area ,Qatar News Agency
(MENAFN - Qatar News Agency) Gaza April 24 - Six Israeli military tanks on Thursday entered a border area in the southern Gaza Strip witnesses said. The tanks crossed into Gaza in an area called ...

Apr 24 2014Uruguay Public Health Minister Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Montevideo April 24 -Minister of Public Health in Uruguay Maria Susana Mu?iz met here on Thursday with HE qatari ambassador to the republic of Uruguay mohamed hassan ...

Apr 24 2014President Salva Kiir Relieves his Chief of the General Staff ,Qatar News Agency
(MENAFN - Qatar News Agency) Juba April 24 -South Sudanese President Salva Kiir relieved Chief of the General Staff of south sudan army James Hoth Mai. This came in a presidential decree aired ...

Apr 24 2014Omani non-oil exports to enter African markets ,MENAFN
(MENAFN) A senior official at the Oman Chamber of Commerce and Industry (OCCI) said that the Sultanate is seeking expansion in new African markets, in a time it is looking forward to reduce its ...

Apr 24 2014UN Chief: All Parties in Syria Blocking Aid ,Qatar News Agency
(MENAFN - Qatar News Agency) w York April 24 - The UN Secretary General Ban Ki-moon has accused all parties in Syria's civil war of "flagrant violations" of international law over the delivery of ...


Live Currency Rates



Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Investment Game
Economic Calendar
Financial Glossary

Portfolio Tracker


Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2000 All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help