Etisalat will now be 'e&'
The new look of UAE telecom giant. 2021 saw the telco pull out 3.2% gains on revenues and net profit, with revenues at Dh53.3 billion. Image Credit: Supplied

Dubai: the UAE telecom giant e& (formerly Etisalat) dialled in a solid Dh9.3 billion as net profit for 2021, up from the Dh9 billion it had a year before. The company’s revenues too were up by the same margin, 3.2 per cent, to Dh53.3 billion from Dh51.7 billion.

The Board of Directors has proposed a dividend of 40 fils a share for second-half 2021, representing a total dividend payout of 80 fils a share for the full-year. As for its 2022 forecasts, e& states: “We are determined to stay agile and fit for the future. Our work is essential in bridging the gap between the telecom industry and what our customers need in the digital space.

“We remain well-positioned to continually create innovative propositions so that our customers, businesses and communities feel cared for.”

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

- Jassem Mohamed Bu Ataba Alzaabi, Chairman of e&

Subscriber numbers

Its UAE subscriber base is at 12.7 million as of end last year, while across all of the markets e& operates the numbers are at 159 million subscribers. This works out to a year-on-year increase of 3 per cent.

The switch to e& will have the Abu Dhabi headquartered company go aggressively into new markets as well as enter into categories that can build on its telecom and tech expertise. In a fast-expanding digital space in the UAE and wider region, e& wants to set the agenda through mergers and acquisitions, where needed.

"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," said Jassem Mohamed Bu Ataba Alzaabi, Chairman of e&.

e&'s four pillar strategy
* Bolster the "strong" telecoms network and maximise value for its customer segments in the UAE and internationally.

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

* To enable the digital transformation of governments, large-scale enterprises and corporates, the e& enterprise's focus will be on 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 efforts on driving new mergers and acquisitions while strengthening global presence.