Tuesday, February 2, 2010
Etisalat Posts 5% Increase in 2009 Revenues
Excluding this exceptional item, net profit after federal royalty for 2009 would have increased by AED1.217 billion, 16% higher than 2008. Total assets increased 13% to AED40.38 billion compared to AED35.62 billion in 2008. Etisalat did not reveal quarterly figures, but Reuters has calculated 4Q09 profit at AED1.99 billion (39% higher than the year-ago quarter), based on previous financial statements.
The number of Etisalat’s domestic mobile subscribers exceeded 7.74 million at 31 December 2009, up 6% year-on-year, while fixed line customers reached 1.31 million (a fall from 1.358 million in 2008) and internet subscribers grew 16% in 2009 to total 1.33 million, although the company did not reveal how many of those were broadband users. In 2009 Etisalat launched its ‘eLife’ fibre-to-the-home (FTTH) network and is currently working on making Abu Dhabi the first capital city in the world to be totally connected by fibre-optic infrastructure. The company is also aiming to make the UAE one of the first countries in the world to be entirely covered with fibre-optic services in 2011.