OT income just keeps on rising

22 Aug 2006

Egypt’s Orascom Telecom has posted a 41% increase in first half EBITDA as its group mobile subscriber base leapt 93% year-on-year to more than 41 million. Revenues in the six months ended 30 June rose 36% to EGP11.86 billion (USD2.06 million), pushing EBITDA up to EGP5.31 billion and net income up 12% to EGP1.93 million. Orascom has stakes in mobile operators in Algeria, Pakistan, Egypt, Iraq, Tunisia, Bangladesh, Africa and the Republic of the Congo (Brazzaville). At the end of June its total subscriber base across all operations reached 40.97 million, up from 21.21 million a year earlier.

Orascom also owns 19.3% of Hong Kong-based Hutchison Telecommunications International Ltd (HTIL), which holds stakes in operators in Hong Kong, Macau, India, Israel, Thailand, Sri Lanka, Ghana, Indonesia and Vietnam. It is looking to increase its stake in HTIL by 3.7%, lifting its overall ownership to 23%, and is currently seeking approval for the deal from the governments of the various countries in which HTIL operates.

Egypt, Global Telecom Holding (GTH, formerly OTH)