Pan-Caribbean telecoms group Digicel has reported EBITDA of USD1.16 billion for the full year ended 31 March 2016, a decrease of 1% year-on-year, the Independent.ie reports. The group attributed the decline in part to the strengthening of the US dollar compared to the local currencies in its various markets: adjusted EBITDA was up 9% compared to 2015. Similarly, service revenue grew by 3% y-o-y to USD2.73 billion in constant currency terms, but the telco reported that service revenue was down 3% due to FOREX headwinds. The operator invested USD590 million in expanding and improving its networks in the year under review, of which USD200 million was spent on fibre-to-the-home (FTTH) networks in Jamaica, Trinidad and Tobago and Barbados.
Commenting on the group’s results, chief executive Colm Delves said: ‘Whilst there have been currency headwinds in several of our markets, the underlying growth is positive and we have invested in areas which we believe will enable us to continue our historical growth trajectory. Already we can see the benefits of our diversification strategy with non-voice revenues increasing by over 25% in constant currency.’
At the end of March 2016 Digicel counted a total of 13.8 million subscribers to its mobile, broadband and pay-TV services across its 31 markets in the Caribbean, Latin America and the Pacific.