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MarketScreener Homepage  >  Equities  >  DUBAI FINANCIAL MARKET  >  Emirates Integrated Telecommunications Company PJSC    DU   AEE000701012

EMIRATES INTEGRATED TELECOMMUNICATIONS C

(DU)
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Emirates Integrated Telecmnctns Com : Network ready for 5G says CEO of UAE-based telco du

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04/25/2019 | 05:24am EDT

Emirates Integrated Telecommunications Company (EITC), the parent company of du, is expecting a 60% increase in capital expenditure (capex) this year to AED 1.6 billion compared to AED 1 billion last year.

The Dubai-based telecom operator has invested AED 181 million in the first three months of this year, witnessing a 74% growth compared to a year ago. Osman Sultan, Chief Executive Officer of EITC and du, told TechRadar Middle East that du is ramping up preparations for the launch of 5G and to help drive digital transformation.

“Our network is ready for 5G and it is happening much sooner than expected. [However], the handsets and CPE (customer-premises equipment), wireless routers for broadband services, are not available commercially.” he said.

Mr. Sultan believes that at start, speed is going to be the key differentiator for 5G, which will be targeted more towards outdoor coverage rather than indoor. The lower latency part will come at a later stage.

In this quarter, we will have significant 5G coverage in Dubai

Osman Sultan, CEO of EITC and du

With the likely introduction of 5G in the UAE, Sukhdev Singh, Executive Director at research and consulting services provider Kantar, said that it is expected that service providers would look at new avenues of business growth, which could be driven more by enterprise solutions to begin with.

The operator has signed partnerships with Nokia, Affirmed Networks and MediaTek to launch next-generation Narrow-Band IoT services, which is critical to the successful adoption of 5G technology.

“We are creating a new track of revenue streams by forming alliances, as it will enable devices to deliver a wealth of smart city applications ranging from smart metering, smart parking, trackers, smart health, industrial and agriculture use cases,” Sultan said.

5G holds the key

On the industrial front, Francis Sideco, Vice-President for technology at IHS Markit, said in a statement that 5G will be a key to expanding and realising the full promise of the internet of things (IoT), with the technology’s impact to be felt in smart homes, smart cities and smart industries.

“The world is moving towards digital whether we like or not and we, as a telco, are at the heart of digital transformation. The strategy for this year will be to monetize data usage on the connectivity business, specifically on the pre-paid side, by offering more incentives, and on the enterprise segments,” Sultan said.

According to GSMA Intelligence, publisher of industry reports and research for GSMA, which represents the interests of more than 750 mobile operators globally and over 350 companies in the broader mobile ecosystem, 83 per cent of the 9.6 million population in the UAE was pre-paid subscribers in 2018.

The UAE has 18.6 million mobile connections in 2018 with a 194% SIM penetration rate and with an 84% mobile broadband connection.

“We take a long-term view and remain focused on implementing our strategy to drive more efficiency in our core business while capturing new areas of growth through ICT, as we reposition our company for the future of the telecom business,” he said.

-- Profits for du shrink to AED 449m

(c) 2019 Future Publishing Limited Quay House, The Ambury, Bath BA1 1UA. All rights reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (AED)
Sales 2019 12 787 M
EBIT 2019 3 933 M
Net income 2019 1 826 M
Finance 2019 2 046 M
Yield 2019 6,17%
P/E ratio 2019 14,7x
P/E ratio 2020 13,9x
EV / Sales2019 1,85x
EV / Sales2020 1,65x
Capitalization 25 702 M
Chart EMIRATES INTEGRATED TELECOMMUNICATIONS COMPANY PJSC
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Emirates Integrated Telecommunications Company PJSC Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 6,66  AED
Last Close Price 5,67  AED
Spread / Highest target 23,8%
Spread / Average Target 17,4%
Spread / Lowest Target 14,6%
EPS Revisions
Managers
NameTitle
Osman Sultan Chief Executive Officer
Mohamed Hadi Ahmad Adbulla Al-Hussaini Chairman
Farid Faraidooni Chief Operating Officer & Deputy CEO
Kais ben Hamida Chief Financial Officer
Peter Larnholt Chief Information Officer
Sector and Competitors