Wednesday 1 April 2020

Image courtesy: WAM

Assets of Etisalat, du up 2.8pc to $39.5bn in 2019

ABU DHABI, February 20, 2020

The total assets of Emirates Telecommunications Corporation, Etisalat, and the Emirates Integrated Telecommunications Company, du, increased to Dh145.12 billion ($39.5 billion) in 2019, a YoY growth of 2.8 percent from Dh141.74 billion.

The financial statements announced by the two listed companies show their total combined revenues hit Dh64.8 billion in 2019, while the royalty fee they paid to the government stood at circa Dh7.85 billion, reported state news agency Wam.

The net profit secured by Etisalat and du in 2019 grew to around Dh10.43 billion from Dh10.36 billion in 2018, according to the two companies' official figures.

In more detail, the profits of Etisalat edged up to Dh8.7 billion in 2019 from Dh8.61 billion in 2018.

Etisalat's assets amounted to Dh128.266 billion in 2019, compared to Dh125.243 billion in 2018, with the revenue hitting Dh52.2 billion by the end of 2019.

On the other hand, du's 2019 net profit slightly declined to Dh1.736 billion from Dh1.752 billion in 2018.

The total revenue of du reached almost Dh12.6 billion last year, with the company's total assets having increased from Dh16.5 billion 2018 to Dh16.85 billion in 2019.


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