Etisalat's operating expenses at Dhs34.6b

11/04/2017 06:12 AST

The total operating expenses of Emirates Telecommunications Group Company (Etisalat), amounted to Dhs34.6 billion from Dhs32.75 billion last year.

The 5.6 per cent growth, which excludes the royalty fees to the Federal Government, comes on the back of tremendous business development and strong performance by the Group in 18 markets across the world.

The group's total operating profits rose to Dhs11.4 billion, with net profits increasing by 2 per cent, compared to the previous year, to reach Dhs8.4 billion. The earnings per share rose to Dhs1.02.

As per the company's financial statements, Dhs11.6 billion of direct sale transactions were conducted in 2016, accounting for 33.5 per cent of the total operating expenditure, while the consumption value reached Dhs5.7 billion during the same period.

Employee payroll was Dhs5.17 billion by end of December from 5.4 billion by end of 2015. Etisalat's network and other related expenses hit Dhs2.88 billion.

Organisational and marketing costs reached Dhs2.55 billon, and offsetting losses stood at Dhs1.67, with the remaining costs divided over operating rentals, exchange losses and other operating expenses.

According to the financial statements, Etisalat considers the government's concession fees, which totaled Dhs5 billion in 2016, as an operating expense in its profit and loss statement on the basis that the expenses that should be borne by the company as a result of using the federal government's facilities will have to considered as operating costs.


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