Company analysis: Etisalat
Etisalat is a UAE-based telecommunications services provider, currently operating in 17 countries across Asia, the Middle East and Africa. The telecom’s customer base is claimed to reach 74 million customers, with a total operating area population span close to 1.6 billion people.
Etisalat is one of the Internet hubs in the Middle East, providing connectivity to other telecommunications operators in the region. It is also the largest carrier of international voice traffic in the Middle East and Africa and the 12th largest voice carrier in the world. As of end of 2008, Etisalat had 510 roaming agreements covering 186 countries and enabling BlackBerry, 3G, GPRS and voice roaming… and growing.
According to Business247 Etisalat is expected to record slightly lower earnings in 2009 but profits will rebound in 2010. As the mobile phone market in the UAE is nearing saturation, Etisalat’s income in the next period will come mainly from Internet and associated services while its international operations are also projected to grow, Global Investment House (GIH) said in a forecast on Etisalat, sent to Emirates Business.
Etisalat’s net profit is expected to slip to nearly Dh8.54bn in 2009 before rebounding to Dh9.12bn in 2010, swelling to Dh9.6bn in 2011 and climbing to a record Dh9.96bn in 2012 on the back of a surge in broadband services and strong performance in the company’s operations abroad.
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