Emirates Telecom. Group Company (etisalat Group) Pjsc · ADX:EAND
Emirates Telecom. Group Company (etisalat Group) Pjsc — Etisalat Group — Investor Day (February 2018)
162 slides from Emirates Telecom. Group Company (etisalat Group) Pjsc's investor day presentation, Feb 22, 2018
Slide 1: Etisalat Group Capital Markets Day 2018
Etisalat Group Capital Markets Day 2018 February 22nd, 2018 Fairmont Bab Al-Bahar, Abu Dhabi
Slide 2: Disclaimer
Disclaimer Emirates Telecommunications Group Company PJSC and its subsidiaries and associates (“Etisalat Group” or the “Company”) have prepared this presentation (“Presentation”) in good faith, however, no warranty or representation, express or implied is made as to the adequacy, correctness, comple
Slide 3: Agenda
Agenda Business Overview Saleh Al-Abdooli Chief Executive Officer – Etisalat Group Etisalat Group Financial Results Serkan Okandan Chief Financial Officer – Etisalat Group Chief Executive Officer – Etisalat Etisalat Group International Hatem Dowidar International Chief Strategy & Governance Officer
Slide 4: Business Overview
Etisalat Group Capital Markets Day 2018 Etisalat Group Business Overview Saleh Al-Abdooli Group Chief Executive Officer
Slide 5: Etisalat Group among the region's top telecom groups
Etisalat Group continues to be amongst the region’s top telecom groups supported by its wide reach, solid profitability, & strong cash flow generation Key Highlights Etisalat Group Operating Companies 16 countries, over 142 million subscribers 1 UAE Revenue: AED 51.7 billion 2 KSA 10 Egypt EBI
Slide 6: Middle East's Most Valuable Brand
Etisalat stands out as the Middle East’s Most Valuable Brand, surpassing STC & Emirates with a brand value of 7.7Bn USD Brand Ranking Brand Rank 2015 2016 2017 2018 1 2 3 Brand Value (M USD) 7,702 8,000 Etisalat 2018 7,000 Brand Value stands at 6,000 6,650 Etisalat STC 5,000 USD 7.7 Bn 4,000 3,019 O
Slide 7: Global leadership in fixed fiber network penetration
We sustained our global leadership when it comes to fixed fiber network penetration as a result of our determined modernization strategy Global Rankings 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% UAE 94.3% Qatar 90.4% 92.9% Singapore South Korea 81.6% 90.3% Hong Kong 75.6% Jap
Slide 8: Reviewed Group vision and strategy
In 2017, we reviewed our Group vision & strategy to reflect our digital ambition and key growth priorities… Key Achievements Source: Etisalat 8
Slide 9: Digital Agenda and key achievements
.. while delivering against various group wide & OpCos’ specific initiatives Key Achievements 4G coverage in MT exceeding 93% of population (73% in 2016) Portfolio Rationalization Universal license & spectrum acquisition, in addition to concluding Level 1 restructuring at Mobily Ongoing fixed
Slide 10: Highest EBITDA margin among peers
Etisalat enjoys the highest EBITDA % and one of the highest Net Profit % among peers, despite unfavorable exchange rate movements impacting revenue growth Peer Groups Comparison Key performance indicators from a Shareholder Perspective (Comparison on 3m basis, with some operators reporting EBITDA an
Slide 11: Industry outlook: challenges and opportunities
We continue to operate in a dynamic industry with a range of challenges but also opportunities for growth… Industry Outlook Macro-Economic Outlook ICT Market Outlook Country level reforms ongoing across the ICT remains a pivotal element of our OpCo footprint, particularly in KSA as part of the count
Slide 12: New technologies and business models
…fueled by new technologies and business models that are accelerating the transition into a digital future Industry Outlook Non-Exhaustive Selected Key Topics affecting the Telco Industry Internet of Artificial Intelligence Big Data Cyber Security [Every]Thing and Machine Learning Analytics Next Gen
Slide 13: Pre-commercial 5G and speed records
As an industry leader, Etisalat has successfully launched pre- commercial 5G, achieving global speed records Industry Outlook Non-Exhaustive Selected Key Topics affecting the Telco Industry Internet of Artificial Intelligence Big Data Cyber Security [Every]Thing and Machine Learning Analytics Next G
Slide 14: Focus on video and content
Our focus on video and content started long time ago stemming from our understanding of its strategic importance Industry Outlook Non-Exhaustive Selected Key Topics affecting the Telco Industry Internet of Artificial Intelligence Big Data Cyber Security [Every]Thing and Machine Learning Analytics Ne
Slide 15: TV/Content engagement
Early entrance, comprehensive offering, and the partnership approach enabled EG to become a leading player in the Pay TV/Content space Industry Outlook Non-Exhaustive Selected Key Topics affecting the Telco Industry Etisalat E2E Media service offering Internet of Artificial Intelligence Big Data Cyb
Slide 16: Piloting AI and RPA
Piloting and trialing futuristic technologies, as in AI and RPAs, for business benefit remains one of Etisalat's strategic imperatives Industry Outlook Non-Exhaustive Selected Key Topics affecting the Telco Industry Etisalat has launched a Internet of Artificial Intelligence Big DataAI program to te
Slide 17: Closing Remarks: growth path and priorities
Moving forward, we will continue to follow a growth path while focusing on multiple business critical missions Closing Remarks Focusing on the implementation of our digital strategy by working closely with all OpCo’s to realize “TARGET”. Focusing on nurturing and institutionalizing innovation wi
Slide 18: Group Financial Results
Etisalat Group Capital Markets Day 2018 Group Financial Results Serkan Okandan Group Chief Financial Officer
Slide 19: Etisalat Group Financial Highlights
Etisalat Group Financial Highlights AED Million Q4 2017 Growth Growth FY2017 Growth YoY% QoQ% YoY% Revenue 13,481 +4% +5% 51,666 -1% EBITDA 6,438 +3% -2% 25,977 -1% EBITDA Margin 48% -1pp -3pp 50% 0pp Net profit 1,969 -12% -35% 8,444 0% Net profit Margin 15% -3pp -18pp 16% 0pp Capex 2,645 -50% +68%
Slide 20: Revenue and EBITDA breakdown FY2017
Etisalat Group Financial Highlights Revenue Breakdown FY 2017 (AED m) EBITDA Breakdown FY 2017 (AED m) 25% 25% 8% 5% 5% 4% 51.7 2% 26.0 2% bn bn 60% 64% UAE MT Pakistan Egypt Others UAE MT Pakistan Egypt Others -1% -1% YoY Growth YoY Growth UAE +3% UAE +2% MT Group (LC -1%) 0% MT Group (LC +1%) +3%
Slide 21: International Operations Financial Highlights FY2017
Int’l Operations Financial Highlights FY 2017 Revenue (AED m)/EBITDA (AED m) / Revenue & EBITDA (AED m) / EBITDA Margin (%) EBITDA Margin (%) / YoY Growth % YoY Growth Growth in Maroc Telecom Group FY 2017 MAD 45% in AED 44% 43% Revenue 12,638 0% -1% 63% EBITDA 6,506 +3 +1% 21,908 21,470 EBITDA Marg
Slide 22: Group Revenue
Group Revenue Revenue (AED m) and YoY growth (%) Sources of Revenue growth – FY’17 vs FY’16 (AED m) 861 36 52,360 52,360 51,666 51,666 1,548 27 16 12,937 12,896 13,481 2% -1% 3% 4% -3% Q4'16 Q3'17 Q4'17 FY'16 FY'17 FY'16 UAE MT Group Egypt Pakistan Others FY'17 Revenue YoY growth % Highlights Revenu
Slide 23: Group EBITDA
Group EBITDA EBITDA (AED m) & EBITDA Margin Sources of EBITDA growth – FY’17 vs FY’16 (AED m) 26,283 25,977 330 26,283 217 25,977 51% 590 17 245 48% 48% 50% 50% 6,245 6,588 6,438 Q4'16 Q3'17 Q4'17 FY'15 FY'17 FY'16 UAE MT Group Egypt Pakistan Others FY'17 EBITDA EBITDA Margin EBITDA by Cluster (FY’1
Slide 24: Group Capex
Group Capex CAPEX (AED m) & CAPEX/Revenue Ratio (%) Sources of Capex growth – FY’17 vs FY’16 (AED m) 10,467 10,467 199 41% 8,018 559 64 8,018 2,101 53 5,245 20% 20% 16% 25% 2,645 1,573 15% 15% 12% Q4'16 Q3'17 Q4'17 FY'16 FY'17 FY'16 UAE MT Group Egypt Pakistan Others FY'17 CAPEX CAPEX/Revenue CAPEX
Slide 25: Group Balance Sheet & Cash Flows
Group Balance Sheet & Cash Flows Balance Sheet (AED m) Dec-16 Dec-17 Investment Grade Credit Ratings Cash & bank Balances 23,676 27,125 Total Assets 122,521 128,284 AA-/Stable Total Debt 22,279 24,705 Net Cash / (Debt) 1,398 2,420 Aa3/Stable Total Equity 55,915 57,704 Net cash position (AED m) FY-16
Slide 26: Debt Profile: Diversified debt portfolio
Debt Profile: Diversified debt portfolio Borrowings by Operation Q4 2017 (AED m) Borrowings by Currency Q4 2017 16,077 USD 28% MAD 12% 4,392 Euro 2,723 42% 1,514 Others 18% Group MT Group Egypt Pakistan Debt by Source Q4 2017 (AED m) Repayment Schedule Q4 2017 (AED m) 7,677 7,514 15,529 4,670 4,844
Slide 27: Group Dividends: 80 fils per share
Group Dividends: Proposed dividend for 2017 of 80 fils per share Cash Dividends (AED m) Dividends Per Share (AED) 6,954 6,954 6,954 0.8 0.8 0.8 3,477 3,477 3,477 3,477 3,477 3,477 2015 2016 2017 2015 2016 2017 Dividend Yield (1) (%) Dividend Payout Ratio (%) 5.1% 4.5% 84.2% 82.6% 82.4% 4.3% 2015 201
Slide 28: Country by Country Financial Review
Country by Country Financial Review
Slide 29: UAE: Maintained revenue growth with improved profitability
UAE: Maintained revenue growth with improved profitability Revenue (AED m) / YoY Growth (%) EBITDA (AED m) / EBITDA % 30,344 31,205 16,326 16,656 54% 51% 54% 53% 14% 51% 3% 3% 5% 3% 8%% 7,874 7,650 8,109 4,011 4,127 4,100 Q4'16 Q3'17 Q4'17 FY'16 FY'17 Q4'16 Q3'17 Q4'17 FY'16 FY'17 Revenue YoY growth
Slide 30: UAE: Revenue Breakdown and Key KPIs
UAE: Revenue Breakdown and Key KPIs Mobile Revenues (1) (AED m) Fixed Revenues (2) (AED m) Other Revenues (3) (AED m) 14,274 10,796 10,935 14,207 6,063 70% 5,274 24% 5% 1,753 3,603 3,520 3,612 4% 2,776 2,698 2,744 1% 1,526 1,432 12% 15% 6% 15% 6% -3% 0% 0% 0% -1% Q4'16 Q3'17 Q4'17 FY'16 FY'17 Q4'16
Slide 31: Maroc Telecom: Improved operating margins
Maroc Telecom: Improvement in operating margins and profitability Morocco, Benin, Burkina Faso, CAR, CDI, Gabon, Mali, Mauritania, Niger and Togo Subscribers (m) Revenue (AED m) / EBITDA Margin CAPEX (AED m) & CAPEX/Revenue Ratio (%) 56.4 57.0 12,602 12,638 3,166 54.0 2,966 34% 33% 49% 52% 49% 50% 5
Slide 32: Egypt: Launch of 4G and fourth mobile operator
Egypt: Launch of 4G services and entrance of 4th mobile operator while Etisalat reinforcing its 2nd position in the market Total Subscribers (1) (m) Revenue (AED m) / EBITDA Margin CAPEX (AED m) & CAPEX/Revenue Ratio (%) 4,033 2,783 33.9 33.4 34.2 2,214 2,486 45% 307% 38% 39% 39% 35% 722 752 33% 69%
Slide 33: Pakistan: Stabilizing revenues with sustained margins
Pakistan: Stabilizing revenues with sustained profitability margins Subscribers (m) Revenue (AED m) / EBITDA Margin CAPEX (AED m) & CAPEX/Revenue Ratio (%) 4,112 4,084 1,089 1,036 21.9 21.6 21.9 34% 34% 34% 41% 41% 32% 32% 406 417 26% 25% 998 1,025 1,010 100 10% Q4'16 Q3'17 Q4'17 Q4'16 Q3'17 Q4'17 F
Slide 34: 2017 Actual Against Guidance
2017 Actual Against Guidance: Met 2017 guidance while over- achieving the revenue guidance for the year Guidance Guidance Revised Revised Actual Actual 2017 2017 Guidance Guidance 2017 FY 2017 FY 2017 in AED Constant 2017 Constant In AED Constant Financial KPI Currencies (1) in AED Currencies (1) Cu
Slide 35: 2018 Guidance
2018 Guidance: Continue to invest in technology while protecting operating margins and free cashflow Actual FY 2017 Guidance 2018 in AED Constant Financial KPI in AED Currencies (1) Revenue Growth % -1.3% +2.4% Slightly lower EBITDA Margin% 50.3% 49% - 50% CAPEX / Revenue % 15.5% 18% - 19% (1) Const
Slide 36: Q&A Thank You
Q&A THANK YOU
Slide 37: Etisalat International Business Overview
Etisalat Group Capital Markets Day 2018 Etisalat International Business Overview Hatem Dowidar Chief Executive Officer – Etisalat International
Slide 38: Agile portfolio of international investments
Agile portfolio of Int’l investments after further optimization Etisalat Group International Footprint – Key Developments Value shares #1 #2 #3 Etisalat Group Capital increase in Egypt International Portfolio with presence in 15 countries (outside Afghanistan Morocco UAE); 13 markets Egypt1 Pakist
Slide 39: International investments: profitable and cash generating
International investments are a solid platform for profitable and cash generating growth… Revenues (2) (AED bn) EBITDA (2) (AED bn, %) OFCF Proxy (2),(3) (AED bn, %) +3% +3% +4% +5% 21.9 22.6 23.3 +5% Etisalat 10.3 +4% 9.5 9.8 International 4.2 4.3 4.5 Consolidated 2015 2016 2017 2015 2016 2017 2015
Slide 40: Operations in 4 sizable markets: 2017 achievements
… laid on Etisalat operations in 4 sizable markets 2017 ACHIEVEMENTS Leadership position Profitable challenger Revenues: 35.0 bn MAD (-0.8% YoY) Revenues: 12.1 bn EGP (+16.7% YoY) EBITDA: 17.2 bn MAD (+1.5% YoY), EBITDA: 4.7 bn EGP (+19.8% YoY), 49.1% margin 39.2% margin Net Profit: 5.7 bn
Slide 41: Maroc Telecom protecting leadership position
MT is successfully protecting its leadership position in domestic market and continued growth of AT OpCos Morocco: undisputed leader MT OpCos: overall solid growth • Mali Defend leadership in • Mauritania historic subsidiaries, • Burkina Faso operating mostly in mature markets Above 60% value share
Slide 42: Etisalat Misr took over #2 position in Egypt
Etisalat Misr took over the #2 position in Egypt mobile market Mobile Service revenues (LCY) Delivered best network quality with fast LTE roll-out Etisalat Previous #2 Continue growth after Telecom Egypt entry in mobile arena 3rd entrant, achieving #2 mobile position Back to strong levels of profita
Slide 43: Pakistan: positive developments in fixed and mobile
In Pakistan, positive developments both in fixed and mobile arms Fixed Line business Mobile business has recovering turned around Transforming PTCL infrastructure to Re-starting growth engine, reaching serve Pakistan appetite for fixed critical scale in subscriber base to stay connectivity with
Slide 44: Mobily showing signs of improvement
Mobily is showing signs of improvement despite a challenging market in Saudi Arabia Mobily QoQ revenues evolution (%) In a challenging market … - Difficult macro environment - Regulatory evolution: reduction of MTR Mobily and opening access to most of VoIP … Mobily has taken decisive steps toward op
Slide 45: International presence built on 4 strongholds
Overall, Etisalat views the foundation of its International presence and value creation in 4 strongholds Key players in 4 sizable markets… #1 or strong #2 position to • Egypt secure scale • Saudi Arabia Towards solid margins of profitability and relevant cash generation • Pakistan Convergent R
Slide 46: M&A guidelines and portfolio priorities
Guidelines and priorities for portfolio development focused on reinforcing our existing footprint positioning Etisalat Group M&A Guidelines and priorities Primary Focus Explore strategic options for current portfolio, including, where required; Optimize − Selective divestments existing − In-market c
Slide 47: Way forward / Key messages
Way forward / Key messages International operations are a relevant contributor to Etisalat Group — Including Mobily, Int’l Operations generate revenues of ~ 10bn USD a year with ~41% EBITDA margin — On consolidated level they represents 39% of Etisalat Group revenues with 45% EBIDTA margin — Int’l
Slide 48: Q&A Thank You
Q&A THANK YOU
Slide 49: Introducing the New Vision and Strategy
Etisalat Group Capital Markets Day 2018 Introducing the New Vision and Strategy for Etisalat Group Khalifa Alshamsi Chief Strategy & Governance Officer – Etisalat Group
Slide 50: Agenda
Agenda Key External Drivers Summary of New Summary of New and Implications Vision Strategy • OpCo Country Vision • Context for a new • Overview of five snapshot Group Vision strategic pillars • Industry drivers • Definition of the new • Closing messages Group Vision • International best practices ov
Slide 51: OpCo countries introducing transformative plans
Our OpCo countries are introducing transformative plans that leverage ICT to boost economies Egypt UAE • Vision 2030 plans to transform Egypt • ICT fueled Vision 2021 driving into a competitive, diversified and country ambition knowledge-based economy • Internationally, UAE is ranked 1st in • The Vi
Slide 52: Four major forces shaping the telco industry
Within the telco sector, the industry continues to be shaped by four major inter-related forces… i ii Data driving core growth but Disruption leading to Data Regulation New challenged by OTT Ecosystem new business models growth stringent regulation and OTT–based and increased competition competition
Slide 53: Global telcos adapting strategic focus areas
…and accordingly, Global Telcos are adapting their strategic focus areas Compensate Declining NON Core via Digital EXHAUSTIVE Adjacency Growth 2020 Digital Ambition Innovation Now a €1 billion digital revenue “Must Have” Strategic Imperative Focus on Sustainable Double the % of digital Efficiency re
Slide 54: Digital Evolution Index (2017)
All Etisalat Group OpCo markets are evolving, albeit at different trajectories, towards a digital future Digital Evolution Index (2017) vs Rate of change in Digital Evolution Index (2008-2015) 79 – 74 – 69 – 64 – UAE Digital Evolution Index (2017) 59 – KSA 54 – 49 – 44 – Morocco 39 – 34 – Egypt Paki
Slide 55: New vision for Etisalat Group
Consequently, we have adopted a bold new vision for Etisalat Group, which is highly aspirational and has a digital focus Old Vision New Vision “To be the leading and most admired emerging markets telecom group” 55
Slide 56: New vision addresses future of the industry
This new vision addresses the future of the industry, our winning role and our value add… • Our vision for the future is for everyone and everything to be seamlessly connected, benefiting from tailored digital solutions delivered via a world- Envisioned class digital experience Future i.e. a “Digita
Slide 57: OpCo visions move to telco+digital positioning
…and will inspire and accelerate our OpCos that have telco- focused visions to a telco+digital positioning To be the best cellular option for U To be the leading and most admired Become the brand Telecom and ICT of choice in the provider in and for Egyptian telecom Pakistan market Egypt To be one of
Slide 58: New strategy structured around five pillars
To realize the new vision, Etisalat Group has introduced a new Strategy structured around five pillars • Transform Operating Companies into Strongholds • Expand portfolio in MENA and Knowledge Economies • Grow B2B/Digital across the footprint • Raise capabilities and develop talent across the Group
Slide 59: Transform OpCos into Strongholds
Transform OpCos into Strongholds: Etisalat provides both Transformational and Group support Etisalat intervention in Must-win battles through: Transformational Support Group Support • Network & IT excellence • Strategy execution management • Commercial/Marketing revamp • Access to Etisalat centers o
Slide 60: Customer Experience uplift
Transform OpCos into Strongholds: A key focus area of Group support being centered on Customer Experience uplift Customer Experience Uplift Areas of Focus Optimize Traditional Increase Digital Enhance Service Develop Talent Channels Channel Penetration Design Approach • Improving efficiency • Launch
Slide 61: Expand portfolio in MENA and Knowledge Economies
Expand portfolio in MENA and Knowledge Economies: Target inorganic growth opportunities Target inorganic growth opportunities through majority control of Investment Thesis well-positioned operators within target geographies, and continue to explore opportunities to optimize portfolio in order to bal
Slide 62: Digital sector growth opportunities across footprint
Grow B2B/Digital across the footprint: Across our footprint, the Digital sector offers huge growth opportunities Digital Market Opportunity Size Across OpCo Countries 70 Bubble size represents size of digital market addressable by Telco in 2017 (USD Millions) 3,055 Digital Evolution Index (2017) 60
Slide 63: Areas of Group support for B2B/Digital
Grow B2B/Digital across the footprint: We have clearly defined areas of Group support to maximize the Digital opportunity Scope of B2B/Digital Uplift Areas Support Go-to-Market Support OpCos in Enrich B2B/Digital Uplift B2B/Digital- & Delivery for Driving National Services Portfolio related Capabili
Slide 64: Customized B2B/Digital support across footprint
Grow B2B/Digital across the footprint: Specifically, Etisalat Group is extending customized support across our footprint PTCL Etisalat Misr • Digital Security • Digital Security • Managed services • Megaproject support • Knowledge sharing – IOT, Cloud, • Data Centres Security, Data Centers, Vertical
Slide 65: HR Strategy focuses on three pillars
Raise capabilities and develop talent across the Group: HR Strategy focuses on three key pillars Talent & Culture Strategy to Ensure Execution Capability is in Place 1 2 Strategic Frameworks 3 Rich Talent Culture & Collaboration for Building Acquisition Talent Global Leadership Competency Talent Acq
Slide 66: Innovation and digitization: readiness and toolkit
Accelerate value generation through innovation and digitization: Focus is on readiness and innovation toolkit expansion 1 2 3 The Imperative? Where to Play? How to win? • Accelerate Etisalat • Priority areas to be agreed Be Ready: Prepare to Group’s Innovation in line with four principles: innovate
Slide 67: Internal digitization to transform organizations
Accelerate value generation through innovation and digitization: Internal digitization leveraged to transform organizations Drivers for Digitization Scope of Digitization Improve agility and time Business Network and IT Systems Processes to market Improve customer Customer Journeys/ Culture and expe
Slide 68: Internal digitization initiatives underway
Accelerate value generation through innovation and digitization: With specific internal digitization initiatives underway NON EXHAUSTIVE Network Modernization: Continued roll-out of our NFV and SDN plans Future Networks: Preparation for 5G (three main use cases: eMBB, mMTC and URLLC), focused roll-o
Slide 69: TARGET unites vision and strategic pillars
“TARGET” unites both our vision and strategic pillars whilst conveying a clear sense of direction and focus To Drive the Digital Future to Empower Societies Accelerate value generation through innovation and digitization Raise capabilities and develop talent across the Group Grow B2B/Digital across
Slide 70: Closing messages
Closing messages 1 Etisalat Group continues to deliver industry leading financial results Data and digital adjacencies are driving growth, however, hyper competition and 2 digital disruption need to be managed In line with market evolution, Etisalat has a set a bold, new vision: 3 “Drive the Digital
Slide 71: Q&A Thank You
Q&A THANK YOU
Slide 72: Etisalat UAE Consumer Overview
Etisalat Group Capital Markets Day 2018 Etisalat UAE Consumer Overview Khaled Elkhouly Chief Consumer Officer – Etisalat UAE
Slide 73: Key Highlights FY2017
Key Highlights FY2017 Financial Strategic • Strong +2.8% YoY revenue growth • Etisalat recognized as the most valuable brand in the region by Brand Finance – Fifth consecutive year of topline growth with 2013-17 CAGR of 6.0% • Strong subscriber growth in both Mobile (+3% YoY) and eLife (+5% YoY) • R
Slide 74: Business Review – Financial Overview
Business Review – Financial Overview Revenue EBITDA & EBITDA Margin (AED m) (AED m, % of Revenues) +2.8% +2.0% 30,344 31,205 16,326 16,656 53.8% 53.4% 2016 2017 2016 2017 Profit & Profit Margin FCF & FCF Margin (AED m, % of Revenues) (AED m, % of Revenues) +4.7% +7.0% 7,790 8,154 12,773 13,662 25.7%
Slide 75: Topline grew 2.8% and value share strengthened
Despite the challenging macroeconomic context, our topline grew by 2.8% and we continued to strengthen our value share Etisalat UAE Revenues UAE Market Revenues (AED billion) (AED billion) +0.9 +1.1 +1.6 +2.0 (+2.8%) (+2.6%) (+5.5%) (+4.8%) 31.2 44.2 30.3 43.1 28.8 41.1 2015 2016 2017 2015 2016 2017
Slide 76: Solid mobile subscriber growth
Solid subscriber growth in Mobile (+3% YoY growth) with Etisalat reinforcing its leadership in the market Etisalat UAE Mobile Subscribers Performance Highlights (millions) Solid mobile subscriber growth (+3% YoY), despite +0.4 the weaker macroeconomic scenario, increased (+3%) competition from new
Slide 77: Strong growth in Home segment
Likewise, strong growth in Home segment, with +5% YoY growth of eLife base and reinforced market leadership Etisalat UAE eLife Subscribers Performance Highlights (thousands) eLife base has reached and surpassed for the first 44 time the 1.0 million subscribers, placing Etisalat as (+5%) the global
Slide 78: Most valuable brand in the region
Our leadership and strong market presence led to Etisalat been recognized as the most valuable brand in the region Source: Brand Finance 2018 Report 78
Slide 79: Launch of swyp digital-first proposition
In line with our segmented market approach and Digital strategy, we’ve launched swyp, a digital-first proposition Highlights swyp is our new brand to target exclusively 15-29 year olds swyp is a digital-first proposition, co-designed with the target segment As a result, we have a data rich pro
Slide 80: swyp follows brand segmentation strategy
swyp follows our brand segmentation strategy, and should support share gains in the youth sub-segment 80
Slide 81: Monetizing data traffic growth
Monetizing data traffic growth (+45% YoY) continues to be a priority in order to ensure adequate ROI of our LTE investments Data as % of Mobile Revenue Commercial Highlights +3 p.p. 2016 2017 Mobile Data Traffic +45% 75% 4G 65% 3G 35% 25% Q4’16 Q4’17 81
Slide 82: FTTH monetization
Similar efforts on FTTH monetization, with strong focus on monetizing higher speeds and TV content % of High-End 3P Bundles Commercial Highlights (% of Gross Adds) +7 p.p. 2016 2017 % of customers with ≥10 Mbps (% of customers) +9 p.p. 2016 2017 82
Slide 83: TV positioning with FOX, MBC and Starz Play
On TV, our positioning was significantly enhanced thanks to exclusive deals and partnerships with FOX, MBC and Starz Play Commercial Highlights 83
Slide 84: Smart devices portfolio expansion
As the operator of choice for smart devices in UAE, we expanded our portfolio to increase our revenue resilience Commercial Highlights 84
Slide 85: Smiles engagement platform
We launched a new digitally centric engagement platform, Smiles, which is showing strong uptake and satisfaction 500,000+ active users 460,000+ purchases 50,000+ daily users 4.1-4.5 app rating1 200+ partners 1,500+ outlets Note: Smiles launched in May’17; figures are updated till Dec’17 85
Slide 86: Revamped UI for customer touch-points
In the CEX front, we revamped the UI for the major touch-points to better meet consumer needs and achieve efficiencies Mobile App Website EPMs 86
Slide 87: Rollout of 16 new smart stores
We continued to revamp our retail experience by rolling out 16 new smart stores to better meet customer expectations Ajman City Center Riverland, Dubai Parks & Resorts 87
Slide 88: Customer Experience transformation improvements
Our Customer Experience transformation is delivering strong improvements, and driving efficiencies in the cost to serve Store Waiting Time Customer Care Calls (minutes) (millions) -25% -15% 2016 2017 2016 2017 88
Slide 89: Improved customer satisfaction and loyalty (TRIM)
... as well as relevant improvements in Customer satisfaction and loyalty, as measured by TRIM TRIM Score (index) +8% +19% 2015 2016 2017 89
Slide 90: In summary
In summary… • Positive +2.8% YoY top-line growth of Net Revenues, resulting in the 5th consecutive year of growth in our turnaround story • Etisalat was recently recognized as the most valuable brand in the region, continuing to expand its customer based (+3% YoY on mobile, +5% YoY on eLife) and rei
Slide 91: Q&A Thank You
Q&A THANK YOU
Slide 92: Etisalat UAE Business Overview
Etisalat Group Capital Markets Day 2018 Etisalat UAE Business Overview Salvador Anglada Chief Business Officer – Etisalat UAE
Slide 93: UAE economy expected to recover in 2018
Different elements continue influencing the UAE economy although we expect steady recovery in 2018 93
Slide 94: Reinforcing capabilities to become a digital telco
We have continued reinforcing our capabilities to become a digital telco 94
Slide 95: Digital solutions platform vision
Our vision and strategy evolve to be the ‘digital solutions platform’ for our customers 95
Slide 96: Differentiating mobile propositions
In mobile we are differentiating through propositions that provide great experience and control 96
Slide 97: SMB segment transformation
SMB segment is transforming to become the platform for communications and digital services 97
Slide 98: SMB Hello Business Hub
SMB Hello Business Hub is the first true one-stop-shop to set up new businesses in the UAE 98
Slide 99: Virtualizing managed connectivity proposition
We are extending and virtualizing Etisalat managed connectivity proposition as an engine of additional growth 99
Slide 100: Global Services regional leader
Etisalat continues investing to become the ‘Global Services’ regional leader 100
Slide 101: Etisalat Digital rollout
Etisalat Digital has been rolled out and is the engine of Etisalat business unit growth 101
Slide 102: Strategic partnership with Microsoft for public cloud
Concluded a strategic partnership with Microsoft to create the first hyper-scale public cloud in the Middle East and Africa 102
Slide 103: References in different verticals
We continue creating important references in different verticals that will be replicated in the future 103
Slide 104: Expo2020 Dubai connectivity
Work is underway to deliver Expo2020 Dubai the fastest, smartest and best connected places in the world 104
Slide 105: Open innovation
Etisalat is embracing open innovation to accelerate digital transformation and growth 105
Slide 106: Conclusions
Conclusions We will continue in our transformation towards a digital telco Our core business will further expand through innovative mobile propositions and end-to-end managed services SMB segment has the potential to grow through bundling of telecom services and digital solutions Etisalat Di
Slide 107: Q&A Thank You
Q&A THANK YOU
Slide 108: PTCL Group Operations
Etisalat Group Capital Markets Day 2018 PTCL Group Operations Dr. Daniel Ritz Chief Executive Officer – PTCL Group
Slide 109: Key Highlights FY2017
Key Highlights FY2017 Financial consolidated Stable PTCL PTCL PTCL: (PKR) consolidated Corporate Dividend of net profit revenue 117 B DSL revenue revenue 5 B (Yield +168% & EBITDA 40 B +4% +11% 7,7%) PTCL: • Major network transformation for high speed data and growth in DSL, 31 exchanges completed o
Slide 110: Presentation Overview
Presentation Overview 1 Overview of the Operating Environment 2 Key operational and financial highlights of 2017 3 Management focus during 2017 / Key developments 4 Strategic priorities/Way forward www.ptcl.com.pk 2 110
Slide 111: Country highlights
Country highlights • 6th most populous country 207 Mn with annual Growth rate of 2,4% • Urban population is 75 Mn which is 36% of total population. • ~51% population is <24 years of age which is positive for uptake of data. • GDP of 304 B with growth ~ 5,3% which is highest during last 10 years • In
Slide 112: Telco market overview
Telco market overview Total market value 469 PKR b 2017: Overall Market Value ~ PKR 469bn Market map 2017 by competitor (PKR b) 60 355 53 121 155 103 71 19 Voice 36% 55% PTCL 67% 70 Non-Voice 64% + Ufone 45% 33% 51 Other Fixed Mobile Wholesale PTCL Group Jazz / Warid Telenor Zong +Includes dongles r
Slide 113: PTCL Group - a strong full service provider
PTCL Group - a strong full service provider • Strong # 2 by revenue Market • #1 in Fixed Positioning • #4 in Mobile • Only player with Fixed and Mobile • Largest fiber footprint in Pakistan > 38,000 KM of Fiber Fixed • Market leader with 89% value share in fixed broadband • Broadband customers:1,9 M
Slide 114: Presentation Overview
Presentation Overview 1 Overview of the Operating Environment 2 Key operational and financial highlights of 2017 3 Management focus during 2017 / Key developments 4 Strategic priorities/Way forward www.ptcl.com.pk 6 114
Slide 115: PTCL Group - Key financial highlights 2017
PTCL Group - Key financial highlights 2017 Revenue / Revenue Growth (%) EBITDA / EBITDA Margin (%) (Pkr b) (Pkr b) 34% 34% 0% 117 117 40 39 2016 2017 2016 2017 Net Profit /Profit Margin (%) Free Cash flow & FCF/Revenue (%) (Pkr b) (Pkr b) +168% +11% 4 8% 7% 4% 9 10 2 1% 2016 2017 2016 2017 www.ptcl.
Slide 116: PTCL - Key financial highlights 2017
PTCL - Key financial highlights 2017 Revenue / Revenue Growth (%) EBITDA / EBITDA Margin (%) (Pkr b) (Pkr b) -2% 33% 33% 71 70 24 23 2016 2017 2016 2017 Net Profit /Profit Margin (%) Free Cash flow & FCF/Revenue (%) (Pkr b) (Pkr b) -52% 12% 13% 10% 6% 8 9 7 4 2016 2017 2016 2017 www.ptcl.com.pk 8 11
Slide 117: Revenue Growth 2017 vs 2016
PTCL: 70% of revenue base showing growth. 70% % of Revenue 30 26.3 Revenue Growth 2017 vs 2016 (%) 15 11.0 8.1 5.3 4.1 0.4 0 -10.1 -15 -20.1 -30 -45 -44.7 Charji Corp IBR C&WS DSL IPTV Voice C&WS EVO Others M2F % of Capex 6.5 7.8 4.2 8.6 59.2 4 8.2 0.6 1 www.ptcl.com.pk 9 117
Slide 118: PTCL - Key operational highlights 2017
PTCL - Key operational highlights 2017 Subs – DSL (K) ARPU – DSL (PKR) +3% +7% 1,358 1,404 1,388 1,486 2016 2017 2016 2017 Subs – Charji (K) ARPU – Charji (PKR) +49% +1% 142 1,018 1,027 95 2016 2017 2016 2017 www.ptcl.com.pk 10 118
Slide 119: Ufone - Key financial highlights 2017
Ufone - Key financial highlights 2017 Revenue / Revenue Growth (%) EBITDA / EBITDA Margin (%) (Pkr b) (Pkr b) -1% 31% 32% 51 51 16 16 2016 2017 2016 2017 Net Profit /Profit Margin (%) Free Cash flow & FCF/Revenue (%) (Pkr b) (Pkr b) 10% 5 -8% -10% -2% -4 -5 -1 2016 2017 2016 2017 www.ptcl.com.pk 11
Slide 120: Ufone - Key operational highlights 2017
Ufone - Key operational highlights 2017 Subs – Ufone (M) ARPU – Ufone (PKR) +2% +2% 19 19 231 235 2016 2017 2016 2017 www.ptcl.com.pk 12 120
Slide 121: Ufone: Improved quarter-on-quarter revenue
Ufone: Improved quarter-on-quarter revenue Quarterly Revenue Quarterly Net (Billion PKR) (Thousand Additions Customers) -2.7% -1.3% -1.5% 3.4% -113% 93% 111% 224% 888 13.1 484 13.0 12.9 12.8 12.8 92 12.6 12.5 12.5 -111 -72 -390 -863 -987 Q1 Q2 Q3 Q4 2017 2016 Q1 Q2 Q3 Q4 2017 2016 www.ptcl.com.pk 13
Slide 122: Presentation Overview
Presentation Overview 1 Overview of the Operating Environment 2 Key operational and financial highlights of 2017 3 Management focus during 2017 / Key developments 4 Strategic priorities/Way forward www.ptcl.com.pk 14 122
Slide 123: PTCL - Network Transformation Project
PTCL - Network Transformation Project Increase the revenue and improve customer experience for Broadband Objective services Top 100 Exchanges Rest of Pakistan Strategy Protect & Grow Grow and maintain Top 100 Exchanges targeting 51% of DSL base and 54% of DSL revenue. Scope Targeted QoS improvement
Slide 124: NTP Exchanges all over Pakistan
NTP 100 Exchanges - all over Pakistan Peshawar NTR - 1 – North Zone 06 NTP Exchanges Sialkot Islamabad GTR – Central ITR – North Zone Zone 13 NTP Exchanges 03 NTP Exchanges Gujranwala GTR – Central Zone 09 NTP Exchanges Quetta Lahore QTR – South Zone LTR – Central Zone 03 NTP Exchanges 27 NTP Exchan
Slide 125: Reducing Loop Lengths, increasing Speeds
Reducing Loop Lengths, increasing Speeds www.ptcl.com.pk 17 125
Slide 126: NTP driving strong revenue growth
NTP driving strong revenue growth Monthly Revenues growing compared to all benchmarks Pre vs. Post Transformed vs. Cohort Gulgasht Exchange +9% +9% +5% +28% 458 419 399 418 419 458 14 11 Mar-17 Dec-17 Cohort Transformed Mar-17 Dec-17 Pre Transformation Post Transformation Mar-17 Dec-17 Pre Transform
Slide 127: Key Highlights of Ufone Turnaround 2017
Key Highlights of Ufone Turnaround 2017 Infrastructure Distribution Commercial Strengthening of BVS footprint increased Smart price ups helped network via U900 in by 28% improve the ARPU major metros; increasing slightly: Super Card, 3G footprint by ~29% Relationship PAYG packages strengthening with
Slide 128: Ufone's Win SIM Share strategy
Ufone’s ‘Win SIM Share’ strategy has laid the foundation of growth in FY 2018 Avg. Monthly Gross Adds Avg. Monthly Net Adds Blended ARPU (‘K) (‘K) (Pkr/Month) 80% 161 2% 563 235 231 312 Q4'16 Q4'17 (130) Q4'16 Q4'17 2016 2017 www.ptcl.com.pk 20 128
Slide 129: TRI*M scores maintained
TRI*M scores were also maintained, despite limited coverage and spectrum TRI*M Ranking 2 2 1 4 62 63 65 58 58 58 56 58 58 55 55 56 Nov 17 Dec 17 Nov 17 Dec 17 Nov 17 Oct 17 Dec 17 Nov 17 Oct 17 Dec 17 Oct 17 Oct 17 Ufone Competitor A Competitor B Competitor C Source: TRI*M Index by KANTAR MRB www.pt
Slide 130: Presentation Overview
Presentation Overview 1 Overview of the Operating Environment 2 Key operational and financial highlights of 2017 3 Management focus during 2017 / Key developments 4 Strategic priorities/Way forward www.ptcl.com.pk 22 130
Slide 131: Strategic priorities / Way forward
Strategic priorities / Way forward Theme Description Grow Consumer Broadband business aggressively (Fixed and Fixed wireless) Deliver network transformation and LTE migration, drive FTTH deployment PTCL Grow ICT business aggressively, leverage partnerships Capitalize on tower fiberisation op
Slide 132: Q&A Thank You
Q&A THANK YOU
Slide 133: Mobily Operations
Etisalat Group Capital Markets Day 2018 Mobily Operations Ahmed A. Aboudoma Chief Executive Officer - Etihad Etisalat (Mobily)
Slide 134: Challenging macroeconomics environment
Challenging macroeconomics environment • Saudi Arabia partially removed the subsidies from certain utilities weighing on consumer purchase power. • Fees on expat and dependents have been applied since July 2017, starting with 100 SAR per month per dependent creating pressure on expat population. Mac
Slide 135: Large telecom market
Large telecom market • KSA is the largest telecom market in the Middle-East (~US$18 Mds) • 3 players market and 3 MVNOs Telecom • Young population with high percentage level of smart segment Market • Large expats population (~30%) • High level of penetration ~136% but recently affected with a loss o
Slide 136: 2017 in Mobily
2017 in Mobily • Focus in 2017 was to rebuild Mobily foundations: • Analyzing legacy issues • The approach was to fix root causes rather than scratching the surface • Starting to devise a new strategy fitting the company abilities • Rolling out the implementation of the new strategy • Keeping an eye
Slide 137: 2017 at glance: fixing the root cause
2017 at glance: fixing the root cause rather than scratching the surface… SELECTION • New vision & brand positioning Strategy • Launched CEX & digital transformation program • Built new capabilities (analytic & research) • Defined new organization and governance (incl. leadership HR assessment) • Re
Slide 138: Not losing focus on operational performance
… Meanwhile not loosing focus on operational performance… 138 Investor Relations – Capital Market Day
Slide 139: High Level FY 2017 Results 1/2
High Level FY 2017 Results 1/2 -12.9% -9.7% In SAR mn 14,424 12,569 11,351 Revenues FY-2015 FY-2016 FY-2017 39.6% -10.4% 4,069 3,646 2,914 EBITDA & 32% 32% EBITDA margin 20% FY-2015 FY-2016 FY-2017 EBITDA Margin -7.8% -29.4% 3,485 3,212 26% 2,268 24% Capex & Capex to Sales 20% FY-2015 FY-2016 FY-201
Slide 140: High Level FY 2017 Results 2/2
High Level FY 2017 Results 2/2 257.8% 60.8% In SAR mn SAR 521mn 1,378 857 Operational Cash Flow (543) FY-2015 FY-2016 FY-2017 -2.1% -9.3% 14,275 SAR (1.3)bn 13,993 Net Debt & 12,687 Net Debt/ 3.4x 3.4x EBITDA 3.5x FY-2015 FY-2016 FY-2017 Net Debt/EBITDA FY-2015 FY-2016 FY-2017 Net Income (214) (709)
Slide 141: Financial stabilization in 2017
Financial stabilization in 2017 Strong H-o-H improvement In SAR mn -13.2% -1.5% 6,729 5,840 5,719 5,633 Revenues H1 2016 H2 2016 H1 2017 H2 2017 -21.5% ~0% 2,246 1,764 1,832 1,814 EBITDA H1 2016 H2 2016 H1 2017 H2 2017 -780% ~0% 35 Net Income H1 2016 H2 2016 H1 2017 H2 2017 -238 -353 -356 Source: Mo
Slide 142: Growth of top line and EBITDA in Q4
For the first time since 2015, growth of Top Line and continuation of EBITDA growth in Q4 In SAR mn -1.5% -0.4% -1.7% +0.7% 2908 2,865 2,854 2,806 2,827 Revenues Q4-2016 Q1-2017 Q2-2017 Q3-2017 Q4-2017 -2.3% -3.4% +0.3% +0.8% 954 932 900 903 911 EBITDA Q4-2016 Q1-2017 Q2-2017 Q3-2017 Q4-2017 -129% -
Slide 143: 2017 vs. 2016 Q-o-Q Revenues Performance
2017 vs. 2016 Q-o-Q Revenues Performance Y-o-Y performance is steadily improving Revenues Q-o-Q 2017 vs. 2016 performance 0.0% Q1 17 vs. 16 Q2 17 vs. 16 Q3 17 vs. 16 Q4 17 vs. 16 -2.0% -4.0% -2.8% -6.0% -4.3% -8.0% 10.0% 12.0% 14.0% -13.2% 16.0% 18.0% -16.7% Source: Mobily financials 143 Investor Re
Slide 144: Only player to grow Q-o-Q
Mobily is the only players to grow Q-o-Q and witnessed the minimum decline Y-o-Y Total 12.44 12.19 12.19 11.77 11.79 11.87 11.42 10.83 Estimated Market +2.3% -4.7% -8.3% YoY QoQ Growth/ Growth/ 7,540 7,560 7,940 7,500 Decline Decline 7,370 7,330 7,150 6,560 +0.7% Q1-2016 Q2-2016 Q3-2016 Q4-2016 Q1-2
Slide 145: Mobily EBITDA growth vs Zain
Mobily’s EBITDA has grown over the past two quarters while Zain’s has declined every quarter in 2017 In SAR mn YoY QoQ -3.4% +0.3% +0.8% Growth/ Growth/ Decline Decline 1,129 1,146 977 +0.9% 817 932 900 903 911 Q1-2016 Q2-2016 Q3-2016 Q4-2016 Q1-2017 Q2-2017 Q3-2017 Q4-2017 -6.4% -4.9% -0.2% -6.4% +
Slide 146: Mobily outperforming the market
Mobily is outperforming the market Mobily is the only telco to grow its revenues share in 2017 KSA Wireless Telecom – Revenues Share (in %) FY 2017 +0.9pts -0.5pts -2.1pts -1.7pts 65.1% 62.0% 62.6% 62.2% 63.1% 62.6% 60.6% 60.5% -0.5pts +0.5pts +2.0pts 25.2% 23.9% 23.6% +2pts 21.5% 22.1% 21.6% 21.1%
Slide 147: Challenging regulatory environment
Within a challenging regulatory environment Multiple regulatory measures implemented in 2017 and continued in Q1 2018 Award of FTTH subsidy under National Broadband Fund to Obligation to pay Dependency Fees Enforcing one selected market players for Internet implementation bill cycle filtering system
Slide 148: Prices are low in KSA
Prices are low in KSA Data prices decreased by 5 times compared to Q1 2016 Price per GB North Africa countries GCC countries Lowest achieved price per GB, SIM-only postpaid plans, selected countries H2 2016 Source: Analysis Mason 148 Investor Relations – Capital Market Day
Slide 149: Way forward
Way forward • Strictly driving the implementation of the new strategy with customer experience & digital transformation at its heart • Continuation of regulatory pressure • Anticipation of some price rationalization in the market • Continuation of strong data growth • Strong execution push on IT tra
Slide 150: Q&A Thank You
Q&A THANK YOU
Slide 151: Etisalat Misr Operations
Etisalat Group Capital Markets Day 2018 Etisalat Misr Operations Hazem Metwally Chief Executive Officer – Etisalat Misr
Slide 152: Macroeconomic Positive Outlook despite Short-term Bottleneck
COUNTRY OVERVIEW Macroeconomic Positive Outlook despite Short-term Bottleneck Despite challenging Market … positive macroeconomic outlook conditions … lies ahead TE mobile operator (WE) Egypt ranks #1 in Population among Arab countries entering the market WE hammering on local brand (~50% < 24 yea
Slide 153: Macroeconomic indicators reinforcing positive outlook
MACRO ECONOMIC INDICATORS Macroeconomic indicators reinforcing the signals for positive future outlook Egypt’s Economic Indicators % Growth % CAGR (2018 – ’22) Real GDP Growth Rate Population and Unemployment Inflation Rate (period average) %, IMF estimate Millions, %, IMF estimate %, IMF estimate +
Slide 154: TE dispute settled out of court
REGULATORY ENVIRONMENT TE dispute settled out of court after almost ~10 years Interconnect Legal Disputes International Voice Agreement National Roaming Agreement EM & TE sign an agreement Pending since The only operator to sign to settle historical disputes launch TE finally settled on EGP1.45 Sign
Slide 155: Promising telecom sector in Egypt
INDUSTRY OVERVIEW Promising telecom sector in Egypt, despite new competition entry Market Attractiveness Etisalat and Orange shareholder taken decision to increase Capital reaffirms investors’ confidence in the Egyptian market Market Growth Mobile market sustains strong growth (~15% in 2017) outpaci
Slide 156: EM became 2nd market player across all KPIs
COMPETITION LANDSCAPE EM remarkably became 2nd market player across all KPIs Value EBITDA Market Share Margin share orange vodafone WE 18% Revenue Growth 6% Revenue Growth 19% Revenue Growth - Revenue Growth 2016 27.7% 39% 32% 30% 30% 31% 43% 44% 37% - - - 2017 28.4% 39.2% 31% 27% 28% 29% 44% 45% 38
Slide 157: Strong in-market performance: Consumer and Enterprise
Strong-in market performance driven by well-positioned consumer tariffs and enterprise transformation Enablers Performance Increasing uptake of Data Young High well positioned Consumer Mass Youth Centric Professionals Value Economic segmented market platforms contributing to robust growth 7.1% 7.6%
Slide 158: Etisalat Misr operating model drove performance
Etisalat Misr operating model proved successful to drive remarkable performance 2017 challenges Achievements Drivers Currency 18% 28% 21% 9% Well positioned consumer tariffs and enterprise Economics floatation Global Enterprise ARPU growth Data transformation Economic revenue EGP26.8 up from S
Slide 159: Pursuit for Mobile Broadband Leadership
NETWORK CAPABILITY Pursuit for Mobile Broadband Leadership Vigorously expanded our 4G footprint to assert our customer centricity objectives Sites rollout LTE readiness 4G 2,632 2017 LTE Sites Total Rolled out sites; 7267 sites Rolled out LTE sites; 2632 sites ▪ 6,567 3G Sites , represents ~90% ▪ Th
Slide 160: Moving forward: 2018 and beyond
MOVING FORWARD 2018 and beyond Value 1 Emphasis on fundamental execution and deliver value to shareholders through a double digit growth & healthy cash flow 4G 2 Continue building a superior network offering best 4G performance, optimizing CapEx for revenue yield Managing competitive landscape to av
Slide 161: Q&A Thank You
Q&A THANK YOU
Slide 162: Closing Remarks
Etisalat Group Capital Markets Day 2018 Closing Remarks Saleh Al-Abdooli Group Chief Executive Officer