EMIRATES TELECOMMUNICATIONS GROUP COMPANY

Income Statement Emirates Telecommunications Group Company

Equities

EAND

AEE000401019

Integrated Telecommunications Services

Market Closed - Abu Dhabi Securities Exchange Other stock markets 04:26:58 06/09/2024 pm IST			5-day change	1st Jan Change
18.32 ^AED	-1.40%		+0.99%	-6.72%

03/09	Emirati Stocks End Higher Amid US Jobs Data Focus	MT
02/09	UAE's Etisalat Revises Stake in UK's Vodafone	MT

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Published financial data: EMIRATES TELECOMMUNICATIONS GROUP COMPANY

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	52.19B	51.71B	53.34B	52.43B	53.75B
Total Revenues	52.19B	51.71B	53.34B	52.43B	53.75B
Cost of Goods Sold, Total	25.62B	25.13B	38.49B	38.05B	39.63B
Gross Profit	26.56B	26.58B	14.85B	14.38B	14.12B
Selling General & Admin Expenses, Total	2.5B	1.88B	1.13B	1.04B	1.07B
Provision for Bad Debts	915M	1.04B	907M	757M	806M
Depreciation & Amortization - (IS)	5.88B	6.2B	-	-	-
Amortization of Goodwill and Intangible Assets - (IS)	1.59B	1.7B	-	-	-
Other Operating Expenses	1.02B	1.26B	-	-	-
Other Operating Expenses, Total	11.91B	12.09B	2.04B	1.8B	1.87B
Operating Income	14.66B	14.49B	12.81B	12.58B	12.25B
Interest Expense, Total	-1.07B	-1.2B	-1.19B	-1.64B	-3B
Interest And Investment Income	852M	649M	523M	1.7B	3.39B
Net Interest Expenses	-221M	-553M	-672M	62.39M	391M
Income (Loss) On Equity Invest.	-36.25M	197M	297M	417M	761M
Currency Exchange Gains (Loss)	43.28M	182M	-21.48M	-394M	-141M
Other Non Operating Income (Expenses)	-2.39B	-2.19B	421M	-344M	-479M
EBT, Excl. Unusual Items	12.06B	12.13B	12.84B	12.32B	12.78B
Impairment of Goodwill	-1.16B	-148M	-34.65M	-	-
Gain (Loss) On Sale Of Investments	238M	-65.02M	115M	-44.39M	1.81M
Asset Writedown	-23.25M	-149M	-113M	-2.76M	-80.9M
EBT, Incl. Unusual Items	11.11B	11.77B	12.8B	12.28B	12.7B
Income Tax Expense	1.61B	1.45B	1.74B	1.75B	1.55B
Earnings From Continuing Operations	9.49B	10.32B	11.06B	10.53B	11.14B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	9.49B	10.32B	11.06B	10.53B	11.14B
Minority Interest	-802M	-1.29B	-1.74B	-518M	-840M
Net Income - (IS)	8.69B	9.03B	9.32B	10.01B	10.3B
Net Income to Common Incl Extra Items	8.69B	9.03B	9.32B	10.01B	10.3B
Net Income to Common Excl. Extra Items	8.69B	9.03B	9.32B	10.01B	10.3B
Per Share Items
Net EPS - Basic	1	1.04	1.07	1.15	1.18
Basic EPS - Continuing Operations	1	1.04	1.07	1.15	1.18
Basic Weighted Average Shares Outstanding	8.7B	8.7B	8.7B	8.7B	8.7B
Net EPS - Diluted	1	1.04	1.07	1.15	1.18
Diluted EPS - Continuing Operations	1	1.04	1.07	1.15	1.18
Diluted Weighted Average Shares Outstanding	8.7B	8.7B	8.7B	8.7B	8.7B
Normalized Basic EPS	0.77	0.72	0.72	0.83	0.82
Normalized Diluted EPS	0.77	0.72	0.72	0.83	0.82
Dividend Per Share	0.8	0.8	0.8	0.8	0.8
Payout Ratio	98.14	93.08	86.91	80.29	74.5
Supplemental Items
EBITDA	21.7B	21.9B	20.43B	19.67B	19.54B
EBITA	16.24B	16.19B	14.64B	14.44B	14.09B
EBIT	14.66B	14.49B	12.81B	12.58B	12.25B
EBITDAR	21.72B	21.93B	20.46B	19.73B	19.62B
Effective Tax Rate - (Ratio)	14.53	12.33	13.63	14.27	12.24
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	1.77B	1.75B	2.01B	2.1B	1.71B
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	-154M	-296M	-262M	-349M	-154M
Normalized Net Income	6.73B	6.29B	6.28B	7.18B	7.15B
Interest Capitalized	10.9M	8.4M	9.5M	12.7M	15.97M
Interest on Long-Term Debt	240M	255M	259M	287M	255M
Non-Cash Pension Expense	61.93M	83.71M	66.34M	65.62M	71.18M
Supplemental Operating Expense Items
Marketing Expenses	1.29B	887M	1.09B	976M	979M
Selling and Marketing Expenses	1.29B	887M	1.09B	976M	979M
General and Administrative Expenses	1.19B	961M	-	-	-
Net Rental Expense, Total	23.38M	36.53M	35.01M	64.14M	86.69M
Imputed Operating Lease Interest Expense	8.09M	12.61M	11.66M	21.35M	40.37M
Imputed Operating Lease Depreciation	15.29M	23.92M	23.35M	42.78M	46.32M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	29.66B	31.34B	28.58B	32.84B	28.99B
Short Term Investments	-	-	140M	781M	583M
Trading Asset Securities, Total	-	1.07B	294M	1.63B	161M
Total Cash And Short Term Investments	29.66B	32.42B	29.01B	35.25B	29.73B
Accounts Receivable, Total	12.31B	11.3B	11.56B	12.26B	12.95B
Other Receivables	2.98B	3.46B	3.37B	4.13B	4.47B
Total Receivables	15.29B	14.76B	14.93B	16.39B	17.41B
Inventory	783M	705M	749M	973M	1.09B
Prepaid Expenses	571M	584M	628M	706M	824M
Other Current Assets, Total	1.05B	1.23B	1.66B	1.17B	1.73B
Total Current Assets	47.36B	49.7B	46.98B	54.49B	50.79B
Gross Property Plant And Equipment	97.37B	105B	104B	96.59B	101B
Accumulated Depreciation	-49.55B	-56.38B	-57.48B	-54.88B	-59.51B
Net Property Plant And Equipment	47.81B	48.5B	46.15B	41.71B	41.02B
Long-term Investments	7.1B	7.41B	8.05B	23.98B	28.77B
Goodwill	10.99B	11.84B	11.35B	10.72B	11.88B
Other Intangibles, Total	13.97B	14.43B	14.48B	11.62B	11.53B
Accounts Receivable Long-Term	647M	610M	584M	1.69B	1.98B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	65.19M	175M	137M	220M	396M
Other Long-Term Assets, Total	320M	343M	465M	654M	539M
Total Assets	128B	133B	128B	145B	147B
Liabilities
Accounts Payable, Total	6.71B	7.75B	7.15B	6.53B	6.2B
Accrued Expenses, Total	15.76B	15.86B	15.64B	16.25B	16.51B
Short-term Borrowings	4.85B	5.82B	4.7B	5.31B	5.06B
Current Portion of Long-Term Debt	1.69B	7.06B	1.85B	18.44B	8.13B
Current Portion of Leases	550M	574M	545M	542M	569M
Current Income Taxes Payable	281M	278M	312M	415M	292M
Unearned Revenue Current, Total	3.12B	3.56B	3.32B	3.18B	3.1B
Deferred Tax Liability Current	-	-	-	-	3.92M
Other Current Liabilities	11.39B	9.93B	10.14B	12.77B	11.8B
Total Current Liabilities	44.34B	50.83B	43.67B	63.43B	51.67B
Long-Term Debt	17.35B	13.82B	19.18B	24.21B	35.85B
Long-Term Leases	2.16B	2.21B	2.11B	2.6B	2.89B
Unearned Revenue Non Current	44.05M	30.88M	42.43M	97.86M	91.8M
Pension & Other Post Retirement Benefits	1.29B	1.19B	1.22B	1.17B	1.19B
Deferred Tax Liability Non Current	2.64B	2.54B	2.16B	1.65B	1.77B
Other Non Current Liabilities	2.68B	1.84B	2.26B	1.93B	2.37B
Total Liabilities	70.5B	72.47B	70.63B	95.09B	95.83B
Common Stock, Total	8.7B	8.7B	8.7B	8.7B	8.7B
Retained Earnings	45.43B	47.51B	45.99B	49.11B	52.52B
Comprehensive Income and Other	-7.51B	-7.17B	-7.1B	-15.55B	-18.56B
Total Common Equity	46.61B	49.03B	47.59B	42.26B	42.66B
Minority Interest	11.16B	11.52B	9.98B	7.74B	8.42B
Total Equity	57.77B	60.55B	57.56B	50B	51.07B
Total Liabilities And Equity	128B	133B	128B	145B	147B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	8.7B	8.7B	8.7B	8.7B	8.7B
ECS Total Common Shares Outstanding	8.7B	8.7B	8.7B	8.7B	8.7B
Book Value / Share	5.36	5.64	5.47	4.86	4.91
Tangible Book Value	21.65B	22.76B	21.76B	19.92B	19.25B
Tangible Book Value Per Share	2.49	2.62	2.5	2.29	2.21
Total Debt	26.6B	29.49B	28.39B	51.1B	52.5B
Net Debt	-3.06B	-2.93B	-623M	15.85B	22.77B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.4B	1.3B	1.33B	1.28B	1.33B
Debt Equivalent Oper. Leases	187M	292M	280M	513M	694M
Minority Interest, Total (Incl. Fin. Div)	11.16B	11.52B	9.98B	7.74B	8.42B
Equity Method Investments, Total	4.08B	4.25B	4.45B	8.27B	8.98B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	630M	470M	474M	529M	763M
Inventories - Others	376M	428M	438M	601M	534M
Land - (BS)	10B	10.01B	9.88B	7.75B	7.8B
Machinery, Total	79.43B	86.68B	86.5B	81.91B	85.21B
Accumulated Allowance for Doubtful Accounts (Supple)	2.74B	3.21B	3.37B	3.15B	3.17B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	8.69B	9.03B	9.32B	10.01B	10.3B
Depreciation & Amortization - CF	5.88B	6.2B	6.37B	5.79B	5.97B
Amortization of Goodwill and Intangible Assets - (CF)	1.59B	1.7B	1.82B	1.85B	1.85B
Depreciation & Amortization, Total	7.47B	7.9B	8.2B	7.65B	7.81B
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	1.19B	297M	148M	2.76M	80.9M
Provision for Credit Losses	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	36.25M	-197M	-297M	-417M	-761M
Other Operating Activities, Total	1.02B	1.53B	379M	759M	41.36M
Change In Accounts Receivable	922M	811M	-380M	-2.58B	-1.52B
Change In Inventories	-65.21M	84.42M	-66.3M	-292M	-123M
Change In Accounts Payable	161M	-522M	821M	4.04B	-684M
Change in Other Net Operating Assets	6.66M	37.55M	-6.48M	-30.29M	53.64M
Cash from Operations	19.43B	18.97B	18.11B	19.13B	15.21B
Capital Expenditure	-7.79B	-6.07B	-6.45B	-6.75B	-6.04B
Sale of Property, Plant, and Equipment	87.42M	129M	50.31M	67.2M	106M
Cash Acquisitions	-421M	-153M	-1.92B	-224M	-85.96M
Divestitures	-	-	-	-	-2.96M
Sale (Purchase) of Intangible assets	-979M	-1.02B	-1.91B	-1.29B	-1.22B
Investment in Marketable and Equity Securities, Total	-9.83B	7.48B	9.71B	-41.87B	5.62B
Other Investing Activities, Total	1.02B	1.18B	1.16B	1.6B	3.7B
Cash from Investing	-17.91B	1.54B	642M	-48.46B	2.08B
Long-Term Debt Issued, Total	7.29B	4.6B	10.64B	30.44B	26.41B
Total Debt Issued	7.29B	4.6B	10.64B	30.44B	26.41B
Long-Term Debt Repaid, Total	-7.54B	-4.11B	-10.93B	-7.35B	-26.2B
Total Debt Repaid	-7.54B	-4.11B	-10.93B	-7.35B	-26.2B
Common Dividends Paid	-8.53B	-8.4B	-8.1B	-8.04B	-7.68B
Common & Preferred Stock Dividends Paid	-8.53B	-8.4B	-8.1B	-8.04B	-7.68B
Special Dividend Paid	-	-	-3.48B	-	-
Other Financing Activities, Total	-899M	-1.53B	-1.22B	-1.43B	-3.13B
Cash from Financing	-9.68B	-9.44B	-13.09B	13.62B	-10.6B
Foreign Exchange Rate Adjustments	174M	-684M	1.04B	-1B	280M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	-7.99B	10.38B	6.71B	-16.71B	6.97B
Supplemental Items
Cash Interest Paid	875M	1.53B	1.15B	1.43B	3.13B
Cash Income Tax Paid (Refund)	1.88B	1.79B	2.12B	1.84B	1.92B
Levered Free Cash Flow	7.15B	9.65B	5.6B	7.76B	3.28B
Unlevered Free Cash Flow	7.82B	10.41B	6.35B	8.78B	5.16B
Change In Net Working Capital	30.39M	-541M	1.5B	-1.31B	3.05B
Net Debt Issued / Repaid	-248M	487M	-290M	23.09B	206M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.23	6.93	6.13	5.76	5.24
Return on Total Capital	11.09	10.39	9.1	8.41	7.48
Return On Equity %	16.51	17.44	18.73	19.57	22.05
Return on Common Equity	18.99	18.88	19.29	22.28	24.27
Margin Analysis
Gross Profit Margin %	50.9	51.4	27.84	27.43	26.26
SG&A Margin	4.8	3.65	2.12	1.98	1.98
EBITDA Margin %	41.57	42.35	38.3	37.51	36.35
EBITA Margin %	31.13	31.31	27.44	27.53	26.22
EBIT Margin %	28.08	28.03	24.02	24	22.78
Income From Continuing Operations Margin %	18.19	19.95	20.73	20.07	20.73
Net Income Margin %	16.66	17.46	17.47	19.09	19.17
Net Avail. For Common Margin %	16.66	17.46	17.47	19.09	19.17
Normalized Net Income Margin	12.9	12.17	11.78	13.7	13.29
Levered Free Cash Flow Margin	13.7	18.67	10.5	14.79	6.11
Unlevered Free Cash Flow Margin	14.99	20.12	11.9	16.75	9.6
Asset Turnover
Asset Turnover