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Etisalat subscribers at 167m

Abu Dhabi - Group's consolidated revenue soars 7% to Dh51.7 billion in 2015

Emirates Telecommunication Corporation, or etisalat's aggregate subscribers reached 167 million as on December 31, 2015.
In the UAE, where it has tough competition, the active subscriber base grew six per cent to 11.6 million subscribers in the fourth quarter of 2015.
The telecom, which has subsideries in 12-countries showed strong growth in business as Maroc Telecom reported 26 per cent year-on-year growth to 50.8 million customers as on December 31, 2015.
Growth in Nigeria was five per cent to 22.2 million subscribers, according to the audited balance sheet of the telecom giant issued on Thursday.
Etisalat Group's consolidated revenue for the fourth quarter of 2015 amounted to Dh12.7 billion while full year consolidated revenue soared seven per cent to Dh51.7 billion.
In the UAE, revenue in the fourth quarter reached Dh6.9 billion while the full year revenue increased by six per cent to Dh28.8 billion.
With a strong growth in subscribers, Maroc Telecom consolidated revenue for the fourth quarter of 2015 amounted to Dh3.1 billion representing a year over year growth of six per cent. Consolidated revenues for the fourth quarter amounted to Dh12.7 billion, while consolidated net profit after federal royalty amounted to Dh2.6 billion resulting in a net profit margin of 21 per cent and increased year-over-year by 10 per cent.
Etisalat chairman Eissa Al Suwaidi said: "The year 2015 proved to be another year of achievement for etisalat as we consolidate our position as the leading operator in emerging markets."
"Increases in revenues and maintaining strong performance, despite the global challenges facing the telecom sector, is evidence that we continue to provide value to our shareholders and customers," Al Suwaidi said.
The chairman said: "We prepare to enter our fifth decade as a company, we remain in a strong position to realise the opportunities that will come with the digital transformation the world is undergoing."
He said as a result etisalat's experience and its investment in innovation, Etisalat Group is well-placed to go from strength-to-strength as it continue to move forward.
He praised the government's continued support and for allowing institutional and foreign ownership of etisalat's equity in 2015. This
landmark decision will have a positive impact both on Etisalat's shareholders and the Stock Exchange, he said.
Hatem Dowidar, group acting chief executive officer, etisalat, said: "The world today is in the process of rapid change and we are witnessing a digital revolution that has the mobile phone at its centre; a constant in all our lives. This places the telecom industry at the heart of change as an enabler of this exciting future."
He said the future of the global telecom industry is full of challenges and opportunities, whether it is unlocking new technologies, reforming an outdated regulatory framework or dealing with complex global market issues.
Etisalat remains in a strong position to make real the opportunities that the digital transformation has to offer, the acting CEO said.
Proposed final dividend payout of 40 fils per share for 2015, representing a total dividend payout of 80 fils for the full year and a dividend payout ratio of 84 per cent.
- haseeb@khaleejtimes.com