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MarketScreener Homepage  >  Equities  >  ABU DHABI SECURITIES MARKET  >  Emirates Telecommunications Grop Co PJSC    ETISALAT   AEE000401019

EMIRATES TELECOMMUNICATIONS GROP CO PJSC

(ETISALAT)
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Emirates Telecommunications Grop : UAE's Etisalat investing $1 billion in digital transformation this year

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04/16/2019 | 01:07am EDT

Dubai Marina as seen from the Princess Tower. Photo credit: Ben Mack

UAE-based telecoms giant Etisalat plans to invest AED4 billion ($1.09 billion) in digital transformation, mobile and fibre networks this year, according to a senior executive.

Hatem Bamatraf, chief technology officer, Etisalat International, said the company's "pioneering efforts" in 5G will pave the way for the "future of connectivity".

Bamatraf was speaking at 5G MENA 2019 in Dubai where he highlighted Etisalat’s investments and focus on enhancing and building one of the most advanced networks in the region.

“We are stepping into an era, which marks the revolution of intelligent connectivity underpinned by ubiquitous and hyper connectivity. This term is used to describe the powerful combination of flexible, high-speed 5G networks, the Internet of Things (IoT) and Artificial Intelligence (AI). This will have a significant and profound change on individuals, industries, society and the economy, transforming how we live and work,” he said.

Etisalat said earlier this month that its 5G network is ready, adding that the first 5G devices are likely to arrive in the UAE in June.

Bamatraf said Etisalat was the first operator to have a fully developed commercial 5G network available to provide gigabit internet services to its customers.

The network will fuel enterprises digital transformation, IoT, smart cities and the fourth industrial revolution, he noted.

He added that Etisalat’s network will also provide the most advanced digital and telecom services to Expo 2020 Dubai and its millions of visitors, supporting an expected 300,000 users on peak days.

“Etisalat’s network and infrastructure will be ready to provide the service as soon as the 5G mobile handsets are available in UAE. We are aiming to build 1,000 5G towers across the UAE during 2019 to enable 5G coverage,” he added.

With majority of 5G deployments to be implemented by 2020 globally, industry estimates indicate a projection of 1.5 billion 5G subscriptions by the end of 2024.

(c) 2019 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (AED)
Sales 2019 52 652 M
EBIT 2019 13 771 M
Net income 2019 8 822 M
Finance 2019 8 726 M
Yield 2019 4,84%
P/E ratio 2019 16,9x
P/E ratio 2020 16,7x
EV / Sales2019 2,68x
EV / Sales2020 2,56x
Capitalization 150 B
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 9
Average target price 17,60  AED
Last Close Price 17,22  AED
Spread / Highest target 17,9%
Spread / Average Target 2,21%
Spread / Lowest Target -9,99%
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Managers
NameTitle
Saleh Adbullah Al-Abdooli Chief Executive Officer
Eissa Mohamed Al-Suwaidi Chairman
M. M. Serkan Okandan Group Chief Financial Officer
Sabri Ali Yahya Chief Information Officer
Hatem Bamatraf Chief Technology Officer
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