Etisalat Group Reports Audited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Approves Interim Dividend Distribution for the Six Months Ended June 30, 2014, Payable from 13 August 2014; Reports Impairment Charges for the Second Quarter of 2014
Jul 21 14
Etisalat Group reported audited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues amounted to AED 12.6 billion, representing a 27% increase from AED 9.88 billion for the same period last year. EBITDA was AED 5,866 million against AED 4,867 million a year ago. Net profit after federal royalty was AED 2,507 million against 1,976 million a year ago. Operating profit before federal royalty was AED 4,024 million against AED 4,250 million a year ago. Net debt was AED 10,803 million against net cash of AED 13,319 million a year ago. Operating cash flow was AED 5,145 million against AED 2,633 million a year ago. Consolidated capital spending increased 84% to AED 3.4 billion, representing 27% of the consolidated revenues. This increase in capital expenditure is due to the 3G license acquisition and 2G license renewals in Pakistan and consolidation of Maroc Telecom. Adjusting for these items, capital expenditure would have been AED 1.5 billion representing a year over year decrease of 17% and capital intensity ratio of 15%. Excluding the results of Maroc Telecom, revenue amounted to AED 10.4 billion for the quarter with an increase of 5% as compared to the same period last year and by 5% quarter over quarter. Excluding the results of Maroc Telecom, EBITDA was AED 4.6 billion declining 4% year on year and 6% quarter over quarter. The decline in margin is due to higher interconnection and termination costs, higher regulatory expenses and network related costs. Operating profit was AED 2,246.52 million against AED 2,339.62 million a year ago. Profit before tax was AED 3,381.81 million against AED 2,258.35 million a year ago. Profit attributable to the equity holders of the company was AED 2,507.32 million against AED 1,975.8 million a year ago. Basic and diluted earnings per share were AED 0.32 against AED 0.25 a year ago.
For the six months, the company reported revenue was AED 22,478.33 million against AED 19,485.94 million a year ago. Operating profit before federal royalty was AED 8,180.13 million against AED 8,233.29 million a year ago. Operating profit was AED 4,501.11 million against AED 4,493.33 million a year ago. Profit before tax was AED 5,707.46 million against AED 4,509.52 million a year ago. Profit attributable to the equity holders of the company was AED 4,531.46 million against AED 3,800.41 million a year ago. Basic and diluted earnings per share were AED 0.57 against AED 0.48 a year ago. Net cash generated from operating activities was AED 5,144.69 million against AED 2,632.62 million a year ago. Purchase of property, plant and equipment was AED 2,655.2 million against AED 2,389.61 million a year ago. Purchase of other intangible assets was AED 1,667.99 million against AED 527.45 million a year ago.
The company reported impairment and other losses were AED 776 million for the second quarter of 2014.
The board of directors has approved an interim dividend distribution for the six months period ended 30 June 2014 at the rate of 35 fils per share. This is subject to final approval at the Annual General Assembly. Interim dividend distribution of 35 fils per share will commence from 13 August 2014 to those shareholders registered in the shareholders' register at the close of the business day on 30 July 2014.
Emirates Telecommunications Corporation, Board Meeting, Jul 20, 2014
Jul 15 14
Emirates Telecommunications Corporation, Board Meeting, Jul 20, 2014., at 13:30 Indian Standard Time. Agenda: To consider and approve condensed consolidated interim financial information for the second quarter and six months period ended June 30, 2014; and to approve interim dividend distribution for the six months period ended June 30, 2014 at the rate of 35 fils per share, which is subject to final approval of the Annual General Assembly.
Etisalat Unveils Gold Colour LG G3 Smartphone in UAE
Jul 10 14
Etisalat, has launched LG G3 smartphone in gold color in the United Arab Emirates, or UAE. LG G3 in gold, black and white colours will go on sale across all Etisalat Business Centers and key outlets. Customers can get the device for free on Etisalat's smartphone packages that start from AED 250 a month, packed with data allowance and flexible minutes that can be used for local, international and incoming roaming voice calls. The LG G3, running on Android 4.4.2 KitKat bears an impressive 5.5-inch Quad HD (1440x2560 pixel) screen with a stunning 538 ppi resolution. G3's is giving a perfect quality photos with 13-megapixel rear camera, a laser auto focusing sensor, and a front-facing 2.1-megapixel camera with a selfie enhanced function. The LG G3 is powered by a long-lasting 3000mAh removable battery, and features wireless charging support. Etisalat's post-paid smartphone packages for LG G3 phones offers customers a free device with 10GB data allowance and 300 flexi-minutes for AED 400 a month or 1GB data and 100 flexi minutes for AED 250 monthly. Both plans are on an 18-month contract basis. Alternatively, customers can get AED 500 upfront discount on the cost of LG G3 phones on a 12-month package. The discounted price for the 16GB and 32GB phones are AED 1,799 and AED 1,999 respectively, offered on a monthly rental cost of AED 250 for 10GB data and 300 flexi minutes. Etisalat's prepaid customers can also choose to buy standalone 16GB and 32GB LG G3 devices for AED 2,299 and AED 2,499 respectively. The standalone devices offer comes with 1GB free data allowance for the first month and for AED 99 per month thereafter.