Telecom Egypt reports 32% increase in revenue for 9M18

16 Nov 2018

Telecom Egypt generated consolidated revenues of EGP17.358 billion (USD967 million) for the nine months ended 30 September 2018, representing a 32% year-on-year increase, which the operator said was ‘fuelled by the inclining pace of data services and the contribution of the deal sealed with Bharti Airtel of EGP1.6 billion’. Telecom Egypt’s EBITDA in 9M18 totalled EGP5.329 billion, up 36% against the corresponding period a year earlier, bolstered by the increase in revenues, with operating income rising by 16% to EGP5.132 billion. Net profit in the nine-month period under review stood at EGP3.506 billion, up marginally from the EGP3.483 billion recorded a year earlier.

In operational terms, just over a year on from its entry into Egypt’s mobile market, Telecom Egypt reported a wireless subscriber base of 3.589 million at end-September 2018, up ten-fold from 352,000 a year earlier. Fixed broadband subscribers, meanwhile, numbered 4.968 million (3Q17: 3.839 million), with the lion’s share of those – 4.714 million – being residential connections. Fixed voice lines in service also continued to increase, reaching 7.589 million at the end of the reporting period, up from 6.913 million at end-September 2017.

Egypt, Telecom Egypt