Etisalat ranked no. 2 on the Forbes Middle East list of “ top 50 public companies in UAE “ based on four major criteria of total assets, net profits, market capitalisation and revenues.
With its first UAE 100 ranking, Forbes Middle East (ME) recognised 100 companies that have played a key role in making the country the thriving business center that it is today. The 50 of the biggest companies are listed on the country’s main stock exchanges and are some of the largest and most valuable companies in the country.
Etisalat today is the ‘Most Valuable Telecoms Brand’ in Middle East and North Africa region by Brand Finance in recognition of the company’s increase in brand value by 40 percent to $7.7bn-higher than any other telecom brand in the region and the only telecom provider to break the $7bn brand value mark in the region.
Ahmed Bin Ali, Senior Vice President, Corporate Communications, Etisalat, said: “We are honoured to be in the UAE top ranking that recognises Etisalat’s role in the contribution to the growth and development of the country and positioning it as a business hub in the region. This was possible, as we stayed focused on the company’s long-term strategy of making the digital vision a reality to drive stakeholder value. Thanks to both our supportive shareholders and loyal customers for inspiring us to set new global benchmarks and reach new business heights.”
Etisalat is the only telecom provider from the region to feature in the top 15 most powerful telecom brands globally and boast of an impressive AAA brand rating. On a portfolio basis, the brand value inclusive of non-branded subsidiaries (Mobily in KSA, Maroc Telecom Operations, Ufone/PTCL in Pakistan) has jumped by 25 percent to $9.6bn.
Khuloud Al Amyan, Editor-in-Chief Forbes Middle East, said: “UAE today is a preferred regional business hub with over 90 percent of the companies featuring on the Forbes Global 2000 list basing their regional headquarters in the country. With infrastructure rivaling those from some of the most developed economies, it is also a hub for regional trade.
“The first UAE 100 ranking recognised companies that have played a key role in making the country a thriving business today. Etisalat ranked high on all four criteria playing a critical role in contributing to the progress of the country as well as setting global benchmarks in telecom and technology.”
Forbes Middle East screened all listed companies in Dubai and Abu Dhabi’s stock markets. Companies were ranked based on four criteria, which are mainly total assets, net profits, market capitalisation and revenues.