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du Announces Full Year 2009 Results |
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Emirates Integrated Telecommunications Company PJSC ("du") today announced full year results to 31 December 2009, recording another successful year of growth with net profit before royalty at record highs reaching AED 528 million. Highlights for the full year: 1,011,200 active mobile customers acquired, an increase of 41% year on year to 3,477,000 Post paid active mobile subscribers more than doubled during the year to 137,500 from 66,300 in 2008 45% growth in du’s fixed line subscriber base from 280,300 to 405,900 lines at year end 2009 Total full year revenues grew by 35% to reach AED 5,339 million compared to AED 3,951 million in 2008 EBITDA reached AED1,064 million, up from AED 369 million for FY 2008, an impressive 189% year on year growth Net profit before royalty reached a record AED 528 million up from AED 8 million in FY 2008 Highlights for the fourth quarter: 337,900 active mobile additions during the quarter, the highest level in 2009 Healthy 27,500 increase in post-paid additions in Q4, similar to the previous quarter Total revenues reached AED 1,530 million up 25% vs. Q4 08 EBITDA of AED 366 million, a strong increase of 55% vs. Q4 08 (AED 236 million) Net profit before royalty of AED 209 million for the quarter, 155% growth vs. Q4 08 (AED 82 million). Commenting on the results, Ahmed Bin Byat, Chairman of du, said, "2009 was another year of success for du marked by record revenues and profits. This is, in the prevailing challenging global economic climate of 2009, a remarkable performance of growth and a credit to du’s management and employees who tirelessly continued to provide innovation, value for money and excellent service to our customers. ’’Not only are we committed to our subscribers, we are devoted to the development of the telecommunications sector and the nation’s economy as a whole. One of the pillars of this commitment is our Emiratisation program where we will continue to drive and promote the employment of UAE Nationals, a program that is rooted in quality and performance. ’’2010 will see du enter a new phase of maturity. Our strong financial performance, driven by rapid subscriber growth over the past three years, provides us with a solid foundation for the next phase of our development. We remain focussed on delivering quality and a fulfilling customer experience and will continue to invest in our business to capitalise on the wealth of opportunity we see before us". Osman Sultan, du’s Chief Executive Officer, said, "Three years exactly after launching our services, we have reasons to be proud of our achievements so far. Our position in the mobile market is a strong one and we have realized our ambition, in a short time, of becoming a serious player in the UAE. Our value proposition in fixed telephony, broadband Internet and IPTV is the most developed, integrated and technically advanced in the Arab world. We see good growth prospects ahead by widening our appeal to more and more customers through the expansion of our offering nationwide via an infrastructure sharing agreement. In addition we have been building the foundations for the company to enter efficiently, through partnerships and joint ventures, into the fast growing universe of digital content and the Internet, allowing progressive ramp up of new revenue streams in the years to come. In 2010 we will reinforce the foundations that will ensure the business is positioned to continue achieving long term growth and sustainable profitability. We also look to providing increased value and satisfaction to our customers with an ongoing drive towards quality, choice and performance. We will continue to re-engineer the way we do business to help reduce costs and improve efficiencies to the overall benefit of our business. ’’I see 2010 being a year in which we improve business efficiency, raise Emiratisation and continue to drive our objective to achieve long term growth and sustainable profitability which will benefit to our customers, employees, shareholders and of course the community at large" he added. |
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