ABU DHABI, 1 February 2007 — Etisalat has been ranked first in the United Arab Emirates and fourth in the Middle East among the top 100 companies, based on its financial performance and capital growth, London-based The Middle East business magazine reported yesterday.
The magazine, which publishes annual financial reports on the Middle East and Africa, said the criteria for selection were the company’s financial performance, including net profits, shareholders’ earnings and capital growth over 2006. Etisalat topped the list of 21 companies in the UAE that were included in the magazine’s Top 100.
Mohammad Khalfan Al-Qamzi, CEO, Etisalat, said that “the excellent performance of the corporation in the year 2006 brings us even closer to our ambition of being among the top 10 telecom operators in the world by 2010. We are committed to being the first and foremost choice of our customers in the UAE and in the overseas markets in which we operate, by enabling customers with the most innovative and high-tech services and solutions that enhance their reach in a more efficient and convenient way.”
Etisalat has earned a reputation as an innovative and progressive telecom operator, and has achieved this ranking after putting in place a successful expansion strategy, which has now its presence in 14 telecommunication markets worldwide.
The corporation was also selected as one of the top 500 companies based on capital, according to London-based daily Financial Times.
It was ranked as the 6th best performing Arab company by Forbes Arabia magazine for the year 2006, which included more than 1,600 Arab joint stock companies in various sectors.