Emirates Integrated Telecommunications (DU) 2008 Q1 financial report

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2008 Q1 result list | DU 2008 Q1 results - forum topic | Emirates Integrated Telecommunications - details & pdf financial statements

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AED USD EUR GBP AUD BHD EGP JOD KWD OMR QAR SAR   Precision: 1 2 3
DU (listed on DFM)   Auditor:   KPMG
DU accounts in UAE dirhams    
Date of results and share price AED 6.17 on 05 May 2008    
Current share price AED 2.78 on 15 Apr 2009    
Chairman Ahmad bin Byat
CEO Osman Sultan
Balance Sheet (AED) 31 Dec 2007 31 Mar 2008   %Δ   ? notes
Total Assets 4,348,072,000 4,878,191,000 12%
Total Liabilities (1,842,262,000) (2,434,039,000) 32%
Shareholders Equity 2,505,810,000 2,444,152,000 -2%
Income Statement (AED) 2007 Q1  2008 Q1       
Revenue (Sales) 183,212,000 756,422,000 313%
Cost of Revenues (COGS) (73,162,000) (291,977,000) 299%
Gross Profit 110,050,000 464,445,000 322%
Other Income 22,243,000 33,761,000 52%    
Other Expenses (348,138,000) (559,864,000) 61%    
Net Profit -215,845,000 -61,658,000 71%  
Minority Interests 0 0      
Net Profit due to shareholders -215,845,000 -61,658,000 71%
Earnings Per Share stated (annualized) -0.05 (-0.20) -0.02 (-0.08) 60%  
Ratio Calculations As on 05 May 2008      
Number of shares outstanding   4,000,000,000    
EPS calculated (annualized) -0.05 (-0.22) -0.02 (-0.06) 71%   2007 Q1 EPS restated
Price to Earnings ratio (PE)*  
Price to Book Value (PBV) 9.8 10.1 3%  
Return on Assets (ROA)* -19.9% -5.1% 75%
Return on Equity (ROE)* -34.5% -10.1% 71%
Return on Sales (ROS) or Profit Margin -117.8% -8.2% 93%
*Based on annualized profits          
Comments about Emirates Integrated Telecommunications Q1 2008 results

Using Gross Profit instead of Net Profit to estimate Returns and other ratios gives the following figures as of date of release of results:

ROA = 9.5%
ROE = 19.0% which is not as good as it looks since accumulated losses reduce the Shareholders' Equity figure
ROS = 61.3%
PE = 53.1 which looks expensive
PBV = 10.1 which also looks expensive

Have your say in the DU 2008 Q1 results forum topic, includes directors reports and news, if available.

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