Page 29 - SAMENA Trends - July-September 2024

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

country’s ever-growing young and data- “This deal underscores our strong local solutions to its network, including the
savvy population." Through this agreement, capabilities and expertise. By deploying UBT-T XP version, offering one of the
Zain Iraq aims to lay the groundwork for our advanced microwave solutions, Zain highest transmit power in the market. This
future innovations across the country Iraq will benefit from an optimized network technology reduces antenna sizes and
catering to the anticipated surge in data that is ready to handle the demands of tower load, delivering significant capital
usage driven by increasing customer the future, including meeting the needs of expenditure (CAPEX) and operational
needs. Mikko Lavanti, Senior Vice President its growing customer base.” Zain Iraq will expenditure (OPEX) savings.
of Mobile Networks at Nokia MEA, added: introduce Nokia's high-capacity microwave

Zain Group Q2 2024 Normalized Net Income Growth Soars 55% to Reach KD
52 Million (USD 170 Million), Board Declares Interim Dividend of 10 Fils Per

Share

Zain Group, a leading provider of
innovative technologies and digital
lifestyle communications operating in
eight markets across the Middle East
and Africa, announces its consolidated
financial results for Q2 and six months
ended June 30, 2024. Zain served 47.8
million customers at the end Q2 2024, an
exceptional 13% increase from Q1 2024, as
5 million customers return to the network,
due to the network stabilization efforts
being carried out in Sudan. In Q2 2024, Zain
Group generated consolidated revenue 2024. (tangible and intangible)
of KD 479 million (USD 1.6 billion), up 4% 2. Zain KSA announces cash dividend 10. Operations in Kuwait, KSA, Bahrain and
compared to Q2 2023. Normalized EBITDA of SAR 449 million (USD 120m). Zain Jordan witness impressive H1 2024
grew 13% YoY to reach KD 178 million (USD Group received USD44m. growth in 5G revenues
579 million), reflecting an EBITDA margin 3. In comparative terms, Q2’24 net-profit 11. Fintech services witness exponential
of 37%. Normalized net income growth growth is impacted by Kuwait number growth for H1 2024 as total revenue
soared 55% to reach KD 52 million (USD range claim in Q2’23 increased 24% YoY, with transaction
170 million) reflecting an earnings per 4. Q2 2024 includes USD 20 million value increasing 56%
share of 12 fils. Normalized EBITDA and impairment of network assets in Sudan 12. Enterprise revenue for H1 2024 up 9% as
net income growth for Q2 2024 is arrived at 5. Overall Q2 revenue grew 4% YoY despite ZainTECH and local B2B teams secure
by adjusting the number range claim in Q2 the network and distribution operational multiple deals including the integration
2023. For H1 2024, Zain Group generated challenges in Sudan, whereby network of the STS acquisition during H1 2024
consolidated revenue of KD 945 million services and coverage are gradually 13. Digital operators Yaqoot in KSA, and
(USD 3.1 billion). Normalized EBITDA grew improving Oodi in Iraq, report customer growth of
1% YoY to reach KD 325 million (USD 1.1 6. Sudan recovery plan and new data 8% and 37% respectively
billion), reflecting an EBITDA margin of center sees over 5 million customers 14. Digital services including Dizlee API
34%. Normalized net income growth for returning to the network resulting in platform add gaming and streaming
the first six months was 11% reaching KD 13% increase in total Group customers services to drive growth and expand the
81 million (USD 265 million), reflecting compared to Q1’24 customer base
earnings per share of 19 fils (USD 0.06). 7. Currency devaluation in Sudan 15. Zain wins Best Corporate Governance
Normalized EBITDA and net income growth negatively impacted H1’24 key financial Award 2024 by World Finance;
for H1 2024 is arrived at by adjusting the KPIs (currency devalued from SDG 596 Leadership in SDGs Award 2023;
number range claim and Tower transaction per 1 USD in June’23 to SDG 1,799 per 1 and Championship Award in Women
gain in H1 2023. USD by end of June’24) Empowerment 2024 at the 9th Annual
Key Operational Notes for Q2 and H1 2024 8. H1 2024 data revenue grew 1% YoY to Global Good Governance Awards
1. The Board declares an interim reach USD 1.2 billion, representing 39% organized by Cambridge IFA
dividend of 10 fils per share for the 4th of Group revenue 16. Zain publishes its 13th annual
consecutive year, that will be payable 9. Over the six months, Zain Group sustainability report, entitled “A
to entitled shareholders on 6 October invested USD 159 million in CAPEX Pathway to Value Creation”

29 JULY-SEPTEMBER 2024