Etisalat, the leading telecom operator in the UAE, led the list of Abu Dhabi’s Top 100 key government investment companies listed on the Abu Dhabi Securities Exchange (ADX), according to a new index. The company was honored on Saturday for its outstanding performance at an awards ceremony hosted by Abu Dhabi University.
Etisalat topped the list with net profits of AED 5.8 billion for 2011. The telecoms operator’s market capital was pegged at AED72 billion according to figures provided by ADX
His Excellency Rashed Al Baloushi, Chief Executive Officer, Abu Dhabi Securities Exchange, and His Excellency Mohammed Omar Abdullah, Undersecretary of the Department of Economic Development (DED), handed over the certificates at the inaugural awards in the presence of His Excellency Fahad Saeed Al Raqbani, Deputy Director General of the Abu Dhabi Council for Economic Development (ADCED), and His Excellency Dr. Abdulwahid bin Khalid Al Homaid, Deputy Minister of Labor.
Ali Al Ahmed, Chief of Corporate Communications, Etisalat, said: “It is an honor for Etisalat to receive this award, which recognizes our outstanding financial track record over the years. Our loyal and expanding customer base offers testimony to our customer-centric services, which are responsive to changing market dynamics. We are confident that we will continue to achieve greater milestones that will help us maintain our position as a leading global ICT company and significantly contribute to positioning the UAE as the ideal destination for working, studying, living and tourism.”
On Etisalat’s plans for 2013, Al Ahmed said: “Etisalat will continue to work with local, regional and international partners across the telecom spectrum to develop cutting-edge technologies. We are confident we will capitalize on the current dynamic environment through our investment in FTTH fibre-optic cabling and the LTE 4G network for the benefit of our customers.”
Set up to recognize Abu Dhabi companies based on their economic performance, the award categories include top companies listed on the exchange, key government investment companies, largest regional private sector natural gas producers, and those with the highest number of employees and those employing the maximum number of UAE nationals.