Emirates Telecommunications Company (ETISALAT) 2006 FY annual report

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2006 FY result list | ETISALAT 2006 FY results - forum topic | Emirates Telecommunications Company - details & pdf annual reports

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ETISALAT (listed on ADSM)   Auditor:   PriceWaterhouseCoopers, Deloitte & Touche
ETISALAT accounts in UAE dirhams    
Date of results and share price AED 16.35 on 29 Jan 2007    
Current share price AED 10.25 on 15 Apr 2009    
Chairman HE Mohammad Hassan Omran Al Shamsi
CEO HE Mohammad Khalfan Al Qamzi
Balance Sheet (AED) 31 Dec 2005 31 Dec 2006   %Δ   ? notes
Total Assets 24,327,542,000 45,908,462,000 89% Purchases of assets during 2006?
Total Liabilities (8,601,236,000) (26,721,765,000) 211% Including Minority Interests
Shareholders Equity 15,726,306,000 19,186,697,000 22% Excluding Minority Interests
Income Statement (AED) 2005 FY  2006 FY       
Revenue (Sales) 12,865,894,000 16,290,257,000 27%
Cost of Revenues (COGS) (8,890,365,000) (10,694,372,000) 20%
Gross Profit 3,975,529,000 5,595,885,000 41% Operating Profit
Other Income 280,502,000 475,704,000 70%    
Other Expenses (0) (261,692,000)      
Net Profit 4,256,031,000 5,809,897,000 37%  
Minority Interests 0 49,850,000      
Net Profit due to shareholders 4,256,031,000 5,859,747,000 38%
Earnings Per Share stated 0.94 1.29 37%   2005 EPS adjusted for bonus shares issued in 2006.
Ratio Calculations As on 29 Jan 2007      
Number of shares outstanding   4,537,500,000    
EPS calculated 0.94 1.29 38%  
Price to Earnings ratio (PE) 17.4 12.7   Calculated EPS used
Price to Book Value (PBV) 4.7 3.9 -18%  
Return on Assets (ROA) 17.5% 12.8% -27% Assets almost doubled, profit didn't.
Return on Equity (ROE) 27.1% 30.5% 13%
Return on Sales (ROS) or Profit Margin 33.1% 36.0% 9%
Dividends          
Cash Dividend   60%     Split 25%:35% for 2006 H1:H2
Dividend Yield (cash)   3.7%    
Share Dividend   10%     Approved at AGM
Important Dates Record Date 03 Apr 2007 AGM Date 26 Mar 2007
Comments about Emirates Telecommunications Company FY 2006 results

Healthy results, as you would expect from a monopoly telecoms provider. It would be difficult for Etisalat not to make money.

Growth in assets versus decline in Return on Assets (ROA) is something to investigate further.

BOD meeting 26 Feb 2007 17:00 proposed 35% cash dividend for 2006 H2. Cash Dividend of 25% already paid for 2006 H1 so shareholders on record date will only get 35%.

Record Date of 03 Apr 2007 for share dividend. Cash dividend record dates may have been earlier.

Have your say in the ETISALAT 2006 FY results forum topic, includes directors reports and news, if available.

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This page last updated 20-Jan-2009. Company information last updated 04 Jun 2008. E & OE.