Emirates Integrated Telecommunications Company PJSC (du) today announced its 2007 year-end financial results which showed a 254% revenue growth for the past 12 months reflecting the success of the launch in February of its mobile services.
Financial highlights:
As at the end of December, du's mobile customer base exceeded 1.5 million after only ten months from service launch - an acquisition of close to 30% of the population of the UAE. Its Landline, International and Wholesale and Broadcasting segments also witnessed swift expansion and steady growth.
du achieved sales revenues for the fourth quarter of AED 639.7m representing an increase of 55% compared to the revenue achieved in the third quarter (AED412.2m) and a 388% increase over that achieved in Quarter 4 of 2006 (AED 131.2m). This result brought the total revenue for the year to AED 1,527.4m representing a 254 % growth over the similar period last year.
Ahmed Bin Byat, the Chairman of du, said: “We have clearly positioned ourselves as an innovative trend setter in the UAE telecom sector. We believe the confidence placed in du by all our stakeholders was the key driver behind achieving this significant revenue growth; rest assured we are looking to continue this progress in the coming years by delivering world-class communications and market competitiveness”.
In addition to increasing its mobile customer base, du’s pioneering WOW recharge card, the first of its kind prepaid scheme in the world, and the special edition AED 1 mobile line ‘million’ pack launched to mark the one million subscriber milestone, clearly contributed to the company’s significant revenue growth in the fourth quarter.
To support these customers and its future forecasts, du continued its capital investment programme with the fourth quarter investment reaching AED 366.0m, bringing total Capital Expenditure in the year to AED 1,635.3m. This reflected investments made predominantly in optimizing the mobile network infrastructure and extending the coverage across the UAE.
Net cash outflow for the quarter was AED 221.6m bringing the total cash utilization in the year to AED 1,557.0m mirroring the significant capital investment programme underway.
Osman Sultan, CEO of du stated: “du surpassed all projected forecasts in 2007. I am confident that we have the expertise and capabilities to continue to consistently deliver on these expectations by enhancing the network quality, increasing customer satisfaction, delivering innovative products and services, and investing in the human factor. These are our constant objectives.”
“We differentiated ourselves within the UAE with an un-matched innovative product portfolio and competitive value in 2007 and 2008 will definitely mark similar significant milestones being reached for the company.”
About du
du, the new telecommunications company in the UAE, launched mobile telecommunication services on 11 February 2007 across the UAE in addition to internet and pay TV services in some of the free zones of Dubai. Call Select, the first of du's nationwide Fixed line services for voice telephony, was launched in July 2007.
Among du’s many firsts is its historic Number Booking Campaign for both individuals and business, Pay by the Second billing system, Mobile TV, Mobile Payments, first of its kind ‘WoW’ recharge card (which offers customers the choice between more credit and more time) and Self Care. du business offers include Closed Business User Group and preferred International Destinations.
du’s retail network, currently numbering 16 du shops located in strategic locations across all emirates, was launched on 25 February 2007, supporting the delivery of du services to customers.
du is 40 percent owned by the UAE Federal Government, 20 percent by Mubadala Development Company, 20 percent by TECOM Investments and 20 percent by public shareholders. It is listed on the Dubai Financial Market (DFM) and trades under the name du.
du was recognised as the ‘Best Brand’ for its innovative branding and outstanding success at the Telecom World Awards Middle East 2007.
Financial highlights:
As at the end of December, du's mobile customer base exceeded 1.5 million after only ten months from service launch - an acquisition of close to 30% of the population of the UAE. Its Landline, International and Wholesale and Broadcasting segments also witnessed swift expansion and steady growth.
du achieved sales revenues for the fourth quarter of AED 639.7m representing an increase of 55% compared to the revenue achieved in the third quarter (AED412.2m) and a 388% increase over that achieved in Quarter 4 of 2006 (AED 131.2m). This result brought the total revenue for the year to AED 1,527.4m representing a 254 % growth over the similar period last year.
Ahmed Bin Byat, the Chairman of du, said: “We have clearly positioned ourselves as an innovative trend setter in the UAE telecom sector. We believe the confidence placed in du by all our stakeholders was the key driver behind achieving this significant revenue growth; rest assured we are looking to continue this progress in the coming years by delivering world-class communications and market competitiveness”.
In addition to increasing its mobile customer base, du’s pioneering WOW recharge card, the first of its kind prepaid scheme in the world, and the special edition AED 1 mobile line ‘million’ pack launched to mark the one million subscriber milestone, clearly contributed to the company’s significant revenue growth in the fourth quarter.
To support these customers and its future forecasts, du continued its capital investment programme with the fourth quarter investment reaching AED 366.0m, bringing total Capital Expenditure in the year to AED 1,635.3m. This reflected investments made predominantly in optimizing the mobile network infrastructure and extending the coverage across the UAE.
Net cash outflow for the quarter was AED 221.6m bringing the total cash utilization in the year to AED 1,557.0m mirroring the significant capital investment programme underway.
Osman Sultan, CEO of du stated: “du surpassed all projected forecasts in 2007. I am confident that we have the expertise and capabilities to continue to consistently deliver on these expectations by enhancing the network quality, increasing customer satisfaction, delivering innovative products and services, and investing in the human factor. These are our constant objectives.”
“We differentiated ourselves within the UAE with an un-matched innovative product portfolio and competitive value in 2007 and 2008 will definitely mark similar significant milestones being reached for the company.”
About du
du, the new telecommunications company in the UAE, launched mobile telecommunication services on 11 February 2007 across the UAE in addition to internet and pay TV services in some of the free zones of Dubai. Call Select, the first of du's nationwide Fixed line services for voice telephony, was launched in July 2007.
Among du’s many firsts is its historic Number Booking Campaign for both individuals and business, Pay by the Second billing system, Mobile TV, Mobile Payments, first of its kind ‘WoW’ recharge card (which offers customers the choice between more credit and more time) and Self Care. du business offers include Closed Business User Group and preferred International Destinations.
du’s retail network, currently numbering 16 du shops located in strategic locations across all emirates, was launched on 25 February 2007, supporting the delivery of du services to customers.
du is 40 percent owned by the UAE Federal Government, 20 percent by Mubadala Development Company, 20 percent by TECOM Investments and 20 percent by public shareholders. It is listed on the Dubai Financial Market (DFM) and trades under the name du.
du was recognised as the ‘Best Brand’ for its innovative branding and outstanding success at the Telecom World Awards Middle East 2007.
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