Page 59 - SAMENA Trends - May-June 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Telecom Egypt Records 12% Revenue Increase in
1Q22

Telecom Egypt has posted a double digit turnover of EGP9.417 billion (USD506 ‘International Customers & Networks’ unit,
revenue increase for the opening three million), representing a 12% increase from meanwhile, which saw revenues rise by
months of 2022, with the company saying the EGP8.399 billion reported for Q1 2021. almost 20% year-on-year to reach EGP797
that growth had been ‘mainly fueled by With regards to a breakdown of revenue, million. EBITDA, meanwhile, reached
higher data revenue constituting 74% of the lion’s share – EGP5.001 billion, up EGP3.578 billion in 1Q22, up from EG3.235
top line growth, followed by higher cable from EGP4.191 billion – was attributable billion in the corresponding period a year
and voice revenues’. In the three months to ‘Home & Consumer’ operations. earlier. Net profit was, however, down 36%
ended 31 March 2022 it recorded a total Strong growth was also recorded in the y-o-y at EGP1.366 billion, a drop that the
company said was ‘due to non-operational
items’. According to Telecom Egypt,
excluding such items including Vodafone
Egypt’s one-offs, provisions, impairments
and FX impact, net profit was EGPY1.7
billion, broadly flat on an annualized basis.
In terms of operational highlights, Telecom
Egypt reported that its mobile subscription
total had surpassed a notable milestone,
topping ten million in the period under
review to reach 10.162 million as of 31
March 2022, up from 8.519 million a year
earlier. Fixed broadband subscriptions
also remained on an upward trajectory,
increasing to 8.295 million at the end of
1Q22, up 14.3% y-o-y, while fixed voice
subscriptions rose to 11.174 million from
10.045 million. Commenting on the results,
Adel Hamed, Telecom Egypt’s Managing
Director and CEO, said: ‘I am very proud
with Telecom Egypt’s operational and
financial performance during this quarter
on all fronts despite encountering some
challenges from global headwinds.’

59 MAY-JUNE 2022