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e& reports consolidated net profit of Dh9.3b for 2021

During 2021, the Etisalat UAE subscriber base reached 12.7 million subscribers, while aggregated subscriber base reached 159 million, representing a year over year increase of three per cent.

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Etisalat Group, now known as e&, announced its consolidated financial results for the full year ending December 31, 2021.

Consolidated revenues for e& increased by 3.2 per cent to Dh53.3 billion, while Consolidated net profit rose to Dh9.3 billion, also representing a 3.2 per cent increase year on year. Consolidated EBITDA amounted to Dh26.7 billion, representing a year-on-year increase of 1.0 per cent and resulting in EBITDA margin of 50 per cent..

During 2021, the Etisalat UAE subscriber base reached 12.7 million subscribers, while aggregated subscriber base reached 159 million, representing a year over year increase of three per cent.

Board propose a dividend of Dh0.4 per share for H2 2021, representing a total dividend for 2021 of Dh0.8 per share.

Chairman of e&, Jassem Mohamed Bu Ataba Alzaabi, said: "It is my great pleasure to present the financial results for the year 2021. e& celebrated multiple milestones, witnessed historical achievements, and saw strong financial performance, all of which I believe are setting us up for an even brighter digital future. The digital revolution spurred by the pandemic does not show signs of slowing down. In fact, telecom operators were faced with two choices: stay still and offer the same services or innovate to ensure business continuity and more importantly, achieve growth. We will continue to rise to the challenge and innovate at every opportunity presented to us because we firmly believe that we can make a difference in the lives of millions in a time of accelerated digitalisation, and we are ready to meet the demands of the future with confidence, resilience, and agility."

Telecom will maintain the previous branding identity while upholding the group’s rich telecoms heritage, bolstering our strong telecoms network and maximising value for its customer segments, in the UAE and internationally.

Ramping up the digital services for individual customers in order to elevate their digital-first lifestyle, e& life will bring next-generation technologies through smart connectivity platforms in entertainment, retail, mobility services and financial technology.

In order to enable the digital transformation of governments, large-scale enterprises and corporates, e& enterprise focuses on maximising value through its end-to-end solutions in cybersecurity, cloud, Internet of Things (IoT) and Artificial Intelligence (AI), as well as deploying mega projects.

e& capital will allow the group to focus our efforts on driving new mergers and acquisitions while maximising shareholder value and strengthening global presence.

"This has been an exceptional year during which we have witnessed robust financial performance and business growth across our operations. I am particularly proud of our performance set against the backdrop of another challenging year as we continued to navigate through the effects of the Covid-19 pandemic. Our domestic and international operations delivered a strong performance over the course of the year as a result of our continuous focus on maintaining growth," said Hatem Dowidar, chief executive officer, e&.

"It was a great honour for us to be recognised as the world’s strongest telecom brand and the most valuable telecom brand portfolio in MEA, which is a testament to the success of our strategic initiatives, the building of one of the world’s fastest networks and, of course, our employees’ relentless dedication. I would like to extend my gratitude to the entire e& family, who continue to make us proud at every step of the way," concluded Dowidar. — Wam

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