UAE telecom Etisalat Group has rebranded as e&, and the group reported AED9.3 billion ($2.5bn) in total net profit for 2021, a 3.2 percent jump from the previous year.
The growth was driven by higher revenues and a growing subscriber base, a statement from the company said.
Revenue for the same period grew 3.2 percent to 53.3 billion dirhams, while earnings per share went up from 1.04 dirhams to 1.07 dirhams. During 2021, the Etisalat UAE subscriber base reached 12.7 million subscribers, while aggregated subscriber base reached 159 million, representing a year over year increase of 3 percent.
“Across our footprint, we have shown strong financial performance compared with the prior year, despite persistent challenges in the markets in which we operate, including the measures introduced and overall recovery rates for the Covid-19 pandemic,” the statement read.
Etisalat has adopted a new corporate identity, e&, which will aim to enhance customers experiences across all segments by ideating, designing, and delivering a range of innovative and breakthrough technologies, driven by its track record of success. This strategy is aimed at accelerating growth through the creation of a resilient business model that is built on key pillars representing the group’s main business sectors.
“Telecom will maintain the previous branding identity while upholding the group’s rich telecoms heritage, bolstering our strong telecoms network and maximising value for its customer segments, in the UAE and internationally,” the statement read regarding the rebranding. Capital from e& will focus on driving new mergers and acquisitions.
Ramping up the digital services for individual customers in order to elevate their digital-first lifestyle, e& life will bring next-generation technologies through smart connectivity platforms in entertainment, retail, mobility services and financial technology.
In order to enable the digital transformation of governments, large-scale enterprises and corporates, e& enterprise focuses on maximising value through its end-to-end solutions in cybersecurity, cloud, Internet of Things (IoT) and Artificial Intelligence (AI), as well as deploying mega projects.
