MobiNil 1Q 2009 net profit down despite increase in revenue and EBITDA

30 Apr 2009

Egyptian mobile operator Egyptian Company for Mobile Services (MobiNil) has reported net profit at EGP424 million (USD75.8 million) for the three months ended 31 March 2009, down 6.1% on the same period a year earlier. Higher interest costs and imputed interest amounts relating to 3G instalment payments were cited as major factors in the decline. Revenue for the operator rose by 10% year-on-year to EGP2.49 billion, while earnings before interest, tax, depreciation and amortisation (EBITDA) also rose by 21% to EGP1.21 billion. MobiNil’s subscribers were up by 31% year-on-year to 21.179 million, although the operator did reveal that blended average revenue per user (ARPU) had fallen 16% y-o-y to EGP39 per month.

Egypt, Orange Egypt