Etisalat announces end-of-year results for 2005

Revenues increased to AED 12.9 billion, an increase of 23 per cent over 2004, and net profits increased to AED 4.3 billion, up by 25 per cent from 2004. Earnings per share have also increased from AED 0.94 per share in 2004 to AED 1.17 per share in 2005.

Mohammad Hassan Omran, Chairman and CEO of Etisalat, said: "The Corporation is very pleased with the results of our efforts during the 2005 financial year. We would like to place on record our appreciation of the business-friendly climate that the UAE enjoys under the wise leadership of HH Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, and extend our gratitude for the support that Etisalat has enjoyed in nearly three decades of operations in the nation."

"These results are motivation for us to continue providing state-of-the-art services to our customers, who are the driving force behind our growth and success. We continue to strive to be the telecom operator of choice for customers in all markets where we operate. We will do this by providing new and innovative services that help drive economic development and sustain a better quality of life. Etisalat has successfully evolved into a formidable international operator in a very short span of time, and our sights are now firmly set on becoming one of the top 10 telecom operators in the world",

he added.

"We are proud of the trust invested in us by all our stakeholders. This has given us the resources to aggressively pursue our international expansion plans and to generate year on year growth in all our areas of operation. I would like to extend my gratitude and congratulations to all our employees, without whose efforts and dedication these results would not have been possible", he concluded.

Etisalat has witnessed growth in all major areas. Mobile connections increased by 23 per cent to reach 4.5 million lines. This represents a penetration rate of 98 per cent, which is comparable to the situation in most advanced countries. Internet connections, including high-speed Internet access, crossed the half million mark during 2005. SMS messages in 2005 reached almost 1.3 billion.