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Telecom Egypt records 32% y-o-y increase in revenue for 3Q22

15 Nov 2022

Telecom Egypt has reported a 32% year-on-year increase in consolidated revenue in the third quarter of 2022, which it said was ‘mainly driven by recognition of EGP1.6 billion cable projects revenue followed by 19% higher data revenues’. Total turnover in the quarter ended 30 September 2022 stood at EGP11.87 billion (USD485 million), up from EGP9.01 billion previously, of which the largest portion – EGP5.532 billion (3Q21: EGP4.72 billion) – was generated by its ‘Home & Consumer’ division. In terms of other key financial indicators, the company reported EBITDA of EGP5.28 billion, representing annualised growth of 47%, while net profit totalled EGP2.39 billion, up from EGP2.23 billion.

Turning to its key operational metrics, Telecom Egypt had a total of 8.61 million fixed broadband subscriptions on its books as of 30 September 2022, up from 7.69 million a year earlier. Of the most recent figure, residential subscriptions accounted for the bulk – 8.32 million, up from 7.43 million. Fixed voice subscriptions also continued to rise, reaching 11.41 million at end-September 2022, up 8% y-o-y. In the mobile sector Telecom Egypt reported a total of 11.87 million subscriptions, a 54% increase against 3Q21, but up by just 1% quarter-on-quarter.

Egypt, Telecom Egypt

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