Double digit growth in net profit, revenue, EBITDA for MobiNil

29 Jul 2009

Egyptian mobile operation MobiNil has released its financial results for the three months ended 30 June 2009, posting a 26% year-on-year increase in net profit, beating forecasts. In its second fiscal quarter MobiNil posted a consolidated net profit of EGP536 million (USD96.1 million), while group revenue jumped 27% y-o-y to EGP2.73 billion compared to EGP2.45 billion a year earlier. Earnings before interest, tax, depreciation and amortisation (EBITDA) were EGP1.32 billion, up 23% compared to 2Q 2008. Commenting on the positive results, Hassan Kabbani, MobiNil’s CEO, said: ‘Despite the challenging global economical situation and increased competition, we were able to achieve a double digit growth in our turnover and profits.’

At the end of June 2009, MobiNil’s subscriber base stood at 22.85 million, up 30% against the same date a year earlier, when it had 17.52 million. Meanwhile, average revenue per user (ARPU) fell to EGP40 per month, down from EGP47 twelve months previously.

Egypt, Orange Egypt