Etisalat chairman sees "massive opportunities" in sector

Eissa Mohamed Al-Suwaidi upbeat on firm's ability to exploit changes in industry
Eissa Mohamed Al-Suwaidi, chairman, Etisalat.
Eissa Mohamed Al-Suwaidi, chairman, Etisalat.

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Eissa Mohamed Al-Suwaidi, chairman, Etisalat, said that the telco remains “fully vigilant of the rapid changes” in the industry and sees huge opportunities in digitisation.

“We are adamant to stay at the forefront by embracing the inevitable change; we are facing a digital shift that dictates the development of digital services and their associated ecosystems,” Al-Suwaidi said. “A massive opportunity for telecom operators that brings new challenges but great benefit, digitisation is the new universal game; it is the future that will bring larger value to our customers and shareholders.

“Our focus is on the digital transformation, and we will steer all efforts towards enabling, delivering, and leading it," he added.

The chairman made the comments as Etisalat’s shareholders backed the board’s recommendation to pay full 2016 dividends of 80 fils ($0.22) per share during the firm’s annual general meeting, held at the company’s headquarters in Abu Dhabi yesterday.

Etisalat said that its aggregate subscriber base reached 162 million in 2016, while consolidated revenues amounted to Dh52.4 billion ($14.27bn), an increas of 2% year-on-year.

Consolidated net profit after Federal Royalty amounted to Dh8.4 billion, resulting in a net profit margin of 16%, an increase of 2per cent year over year.

 

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