Debt Profile
e& and its subsidiaries consolidated outstanding debt as shown on its consolidated balance sheet:
Quarterly
| AED million | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 |
|---|---|---|---|---|---|
| Short-Term Debt | 23,745 | 22,896 | 11,310 | 11,246 | 13,191 |
| Long-Term Debt | 24,210 | 24,066 | 35,908 | 35,642 | 35,850 |
| Total Debt | 47,954 | 46,935 | 47,217 | 46,887 | 49,041 |
| Cash & Bank Balances | 32,839 | 31,454 | 24,021 | 24,189 | 28,989 |
| Net Cash / (Debt) | (15,115) | (15,481) | (23,196) | (22,698) | (20,051) |
Debt consists of bond, bank overdrafts, bank loans, vendor financing and loans/advances from non-controlling interests.
Annual
| AED million | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 |
|---|---|---|---|---|---|
| Short-Term Debt | 6,539 | 12,881 | 6,556 | 23,745 | 13,191 |
| Long-Term Debt | 17,350 | 13,820 | 19,176 | 24,210 | 35,850 |
| Total Debt | 23,889 | 26,701 | 25,732 | 47,954 | 49,041 |
| Cash & Bank Balances | 29,657 | 31,345 | 28,575 | 32,839 | 28,989 |
| Net Cash / (Debt) | 5,768 | 4,644 | 2,843 | (15,115) | (20,051) |
Debt consists of bond, bank overdrafts, bank loans, vendor financing and loans/advances from non-controlling interests.
The charts listed below show e& and its subsidiaries outstanding borrowings breakdown by operations, currencies, and repayment schedule as of last reported results. e& intends to update this chart quarterly after filing its financials with the Abu Dhabi Stock Exchange.
The financial performance of e& is regularly evaluated by the credit rating agencies Standard and Poor's and Moody's, Ratings activity updated as of December 2022.
| Long-Term Rating of Etisalat | S&P Global | Moody’s |
|---|---|---|
| 2022 | AA-/ Stable | Aa3/ Stable |
| 2021 | AA-/ Stable | Aa3/ Stable |
| 2020 | AA-/ Stable | Aa3/ Stable |
Note: Credit rating represents an opinion about the Company solvency and may be revised, suspended or withdrawn at any time.
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