Ethio Telecom records 18.4% increase in FY21 revenue

14 Jul 2021

Ethio Telecom has reported a total turnover of ETB56.5 billion (USD1.3 billion) for the year ended 30 June 2021 (FY 2021), representing an 18.4% year-on-year increase and just ahead of the company’s target for the financial year. Mobile voice accounted for 47.5% of the company’s total revenue in FY 2021, while ‘Data and Internet’ contributed 27%, ‘International business’ a further 11% and ‘Value Added Service’ accounted for 9.5%; the remaining 5% was generated by ‘other sources’. According to the operator, the increase in annual revenue was achieved ‘through network optimisation works to enhance customer experience and satisfaction’, with Ethio Telecom highlighting the fact that over the year it had begun offering 34 new and 28 revamped local and international products and services.

With regard to operational metrics, Ethio Telecom confirmed that its overall subscriber base stood at 56.2 million as of 30 June 2021, with this again putting it ahead of its own target, while representing a 22% increase from mid-2020. Mobile subscribers accounted for the lion’s share of the figure, standing at 54.3 million as of 30 June 2021, up from 44.5 million a year earlier, while fixed broadband access surged to 374,000 from 212,200 over the same period. Meanwhile Ethio Telecom reported a total of 25 million ‘Data and Internet’ users at the end of the reporting period, while the number of ‘fixed services’ users stood at 912,000.

The company also offered an update regarding its coverage levels and network development. As of 30 June 2021 its population and geographic coverage stood at 95% and 85.4%, respectively. Meanwhile, it said it is currently running 132 projects on infrastructure and system capacity expansions and enhancements, aiming to boost network coverage capacity and quality of services (QoS). Key among its network development has been the extension of its mobile broadband infrastructure, and in this area Ethio Telecom confirmed that, in order to meet the growing demand for data, it has carried out expansion work in Addis Ababa. Of greater note though, the operator also revealed that its LTE/LTE-A network has been extended to locations outside the capital, with a total of 68 towns across the country now blanketed by its signal. Preparations to reach other currently unserved regions with the LTE/LTE-A services ‘are underway’, it added.

Ethiopia, Ethio Telecom