Digicel stung by USD26m forex hit, according to report

2 Dec 2019

Irish-owned, Jamaica-based telecoms group Digicel has booked a 1% year-on-year decline in EBITDA for the period ended 30 September 2019 to around USD250 million, the Irish Times writes, citing unnamed sources that have seen the pan-Caribbean group’s quarterly update to bondholders. Underlying revenue reportedly grew by 4% y-o-y but dipped by 1% on a reported basis to USD554 million on the back of foreign exchange losses totalling USD26 million, largely due to the weakening of the Haitian gourde against the US dollar. Turnover from mobile data services rose 15% to USD233 million, overtaking earnings from mobile voice services, which continued to decline.

Ireland, Jamaica, Digicel Group