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Emirates Integrated Telecommunications Company   (DU.DFM)
Also known as: EITC, du
Sector | Industry
Telecoms and IT | Telecom Operators
 
Country of Origin
United Arab Emirates
Last Trade
2.60 AED
+ 4.42%
 
 
 
 
 
 
 
 
 
 
 
 
Company Updated: Jun 30, 2008
 
UAE
Joint Stock
 
 
Providing telecommunication and entertainment services that include mobile and fixed line telephony, broadband internet, TV, video and business solutions; owns and operates its own satellite infrastructure.
2005 (December)
1,700 (Group)
du
Abu Dhabi
 
 
UAE (18)
 
 
 
 
DU 
Ordinary 
AED 
 
 Key Officers
Ahmad Bin Byat 
Chairman
Osman Sultan
Chief Executive Officer
 
 Contact Details
Address:
Building No 14
Media City
P.O. Box 502666
Dubai
United Arab Emirates
 
+971 4-360-0000
 
+971 4-391-9000
 
media.relations@du.ae
 
www.du.ae
 
shop.du.ae

 
  Latest Headline
Efforts: du launches SMS campaign for Gaza - Gulf News
 
  IPO Details
Listing Date:
22Apr06
Size of Offering:
$659.97M
Equity Offering:
20%
Lead
Managers:
EFG-Hermes Holding
 

  Business Overview
UAE’s second national telecom operator, Emirates Integrated Telecommunication Company (Du), provides fixed, mobile, broadband, IPTV and broadcasting services. Du was established in 2005, breaking Etisalat’s 30-year monopoly, and began operations in February 2007.

The company’s mobile subscribers grew at a rapid pace to 1.5 million, by the end of 2007 the 10-month mark and to 3 million, by the close of 2008. Mobile services stood in contrast to fixed line, broadband, IPTV and broadcasting services, altogether amounting to 46,000 subscribers, by the end of 2007.

Du offers satellite broadcasting services to a number of regional and international media companies through its subsidiary Du Broadcasting ServicesDu Broadcasting ServicesLoading... (Samacom). In December 2006, Du acquired its three wholly owned subsidiaries from TECOM Investment.

The company underwent an IPO on the Dubai Financial Market in April 2006, offering 20% of the company to the public. The Ministry of Finance and IndustryMinistry of Finance and IndustryLoading... and the Emirates Investment AuthorityEmirates Investment AuthorityLoading... hold shares both in Du and its competitor, EtisalatEtisalatLoading.... Other Du shareholders are the Mubadala Development CompanyMubadala Development CompanyLoading... and the Emirates Communications and Technology Company, a TECOM InvestmentsTECOM InvestmentsLoading... subsidiary.

At the end of 2007, Du sales revenues grew by 388% to AED639.7 million (USD174.2 million) and total revenues by 245% over 2006 to AED1.5 billion (USD408.4 million). Du accounted for 19.1% of the UAE market share at the end of 2007 and hopes to increase it to 30% in 2008.

Du announced investments of AED7.35 billion (USD2 billion) in its infrastructure on the November 2008. On December 2008, Du introduced unified roaming rates in the GCC.
 
 
  Industry Benchmarks  Yr 2007 
 
  No of Fixed-Line Subscribers 46,000 
 
  Penetration Rate - Fixed-Line (%) 0.88% 
 
  No of Mobile Subscribers 1,500,000 
 
  Country Market Share - Mobile 19.1% 
 
  Penetration Rate - Mobile 28.85% 
View latest report on Telecom 
 
 Major Shareholders
This Requires Subscription
 Available to subscribers only. Information in this section includes Shareholder Names and their corresponding Holding Percentages. » More Details
 
  Organization Structure and Related Entities
Subsidiaries/Associates/Affiliates
 
Name  Country  Holding
DIC Telecom International Operations UAE 100.00%
Du Broadcasting Services UAE 100.00%
Tecom Telecom UAE 100.00%
Divisions
 
Name  Country  Holding
Du Centre UAE -
Programs and Initiatives
 
Name  Country  Holding
Masar UAE -
Supervising Authority
 
Name  Country  Holding
Telecommunications Regulatory Authority - UAE UAE -
Agents and Distributors
 
Name  Country  Holding
Axiom Telecom UAE -
 
 
  Representatives
Auditors
 
KPMG
 
Banks
 
Emirates Bank International
 
Law Firms
Simmons and Simmons
Gilbert and Tobin
Clyde and Company
Denton Wilde Sapte
 
 
 Summary Financials
This Requires Subscription
 Available to subscribers only. Information in this section includes key financials data such as Total Revenues, Net Profits, Totals Assets, Shareholder Equity, etc. » More Details
 
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