Today's Edition
MUSTAFA ABDEL AZIM (DUBAI)
Three Emirati brands - the Abu Dhabi National Oil Company (ADNOC), Etisalat e& and Emirates Airlines - achieved significant advancements on Brand Finance’s Global 500 list for the most powerful and expensive brands in the world for the year 2024.
The list was led by the US company Apple with a value of $516.5 billion. According to a copy of the list obtained by Aletihad, the brand of Etisalat e& was ranked as the world’s most powerful brand in the telecommunications sector, with a score of 89.4 out of 100 and a total brand value for the group’s portfolio of $17 billion, including $11.68 billion for the Etisalat e& brand.
Brand Finance, the British specialised company in brand evaluation, estimated the total value of the three Emirati companies’ brands, which received the highest AAA rating for brands, at more than $33.5 billion, compared with $29.7 billion in 2023, $27.6 billion in 2022, and $23.9 billion in 2021.
According to the report released on the sidelines of the World Economic Forum meetings in Davos, the brand of ADNOC climbed 10 positions to reach 128th globally for the first time, with a value of $15.2 billion.
Etisalat e&’s brand rose 18 positions to 177th globally, with a value of $11.68 billion, while Emirates Airlines recorded a massive jump of 118 positions to reach 344th globally, with a value of $6.6 billion.
According to the list, ADNOC’s brand ranked eighth globally and second in the Middle East among brands with the highest value in the oil and gas sector.
Etisalat e&’s brand ranked 13th globally in the telecommunications sector, and Emirates Airlines ranked fourth globally in the aviation sector.
ADNOC
ADNOC gained 10 new positions on the Brand Finance Global 500 list for 2024, rising to 128th globally, compared with 138th globally last year. It joined the list of the top 130 most expensive brands in the world for the first time and solidified its position among the top 10 globally in terms of brand value and strength in the oil and gas sector.
ADNOC’s rating increased from AA+ last year to AAA-, after the brand’s value increased by 7% to reach $15.2 billion compared with $14.2 billion last year.
Brand Finance highlighted the strategic investment recently executed by ADNOC, acquiring a 10.1% stake in the UK-based company Storegga, expanding its business portfolio in the carbon management sector. This deal represents ADNOC’s first international investment in carbon management companies’ stocks.
This move is based on the Dh55 billion allocated by ADNOC primarily for investing in low-carbon solutions and emission reduction technologies. ADNOC aims to increase its carbon capture capacity to 10 million tonnes annually by 2030, equivalent to removing over two million internal combustion engine vehicles from
the road.
Etisalat’s communications and e& emerged as the most valuable brand portfolio in the communications sector in the Middle East and Africa, ranking 13 globally.
The total value of the brand portfolio in the communications sector surpassed $17 billion, representing a 15% increase from the previous year in 2023.
In addition, e& from Etisalat, the strongest brand in the communications sector, claimed the top spot globally as the most powerful brand in the communications sector and retained its first position as the strongest brand across all sectors in the Middle East and Africa in this year’s report.
Emirates Airlines’ brand witnessed an exceptional leap, advancing to the 344th position globally compared with 462nd in the previous year’s ranking. It retained its top position in the Middle East and ranked fourth globally as the most powerful brand in the aviation sector. The brand value of Emirates Airlines increased to $6.6 billion in the 2024 Global 500 report, compared to $5.1 billion in the 2023 report, achieving an AAA rating compared to its previous AA+ rating.
Apple reclaimed its title as the most valuable brand in the world with a value of $517 billion, followed by Microsoft at $340 billion, Google at $333.4 billion, and Amazon, which relinquished its first position last year, ranking fourth this year with a value of $308.9 billion. Samsung secured the fifth position with a value of $99.4 billion. Tesla’s brand dropped out of the top ten to 18th place globally.
