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International carriers are second largest source of Telecom Egypt revenues - Daily News Egypt

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International carriers are second largest source of Telecom Egypt revenues

Revenues of cables unit amounted to EGP 1.1bn in Q1 2018


The international carrier business unit is the second largest source of revenue for Telecom Egypt. During the first quarter of this year, the units achieved revenues of EGP 1.1bn, while total revenues of the company scored EGP 4.8bn.

According to the financial results of Telecom Egypt, the revenues of the international carrier unit registered growth of 2% in the first quarter this year, compared to the fourth quarter of last year, when the company achieved revenues of EGP 1.073bn.

Yet, revenues show a decline by 8% when compared to the same period of last year, when revenues of the unit reached EGP 1.2bn.

According to the results of Telecom Egypt, the International Carrier Unit is a major supporter of revenues, second only to the Household and Retail Business Unit, which realised revenues of EGP 1.8bn in the first quarter this year.

Meanwhile, the company’s revenues from the business unit reached EGP 880m, while enterprise unit achieved revenues of EGP 624m, and international networks revenues reached EGP 353m.

Total consolidated revenues for the fiscal year that ended in 31 March 2018 reached EGP 8.4bn, up by 40.15%, which represents an increase of EGP 638m, compared to the same period last year.

Business results showed Telecom Egypt’s net profit of EGP 688m, down by 48%.

Capital expenditure for the period was at EGP 603m, including the mobile network license, which accounts for 6.12% of revenues, against 1.12% in the same period last year.

ADSL services continued to drive the market share up to reach 79%, up by 29% in consumers number compared to the same period last year and reaching about 4.4 million subscribers in the fiscal period that ended in 31 March 2018.

The total number of land line subscribers continued to increase to 3.7 million by 31 March 2018, rising by 10% from the same period last year.

The total number of mobile subscribers by 31 March 2018 reached 9.2 million subscribers.

Telecom Egypt has since the beginning of the first quarter of 2018 take three main steps to enhance its situation as an integrated telecommunication operator, starting with launching a prepaid scratch card system in January through the post-paid system for mobile lines, then re-launching the ADSL service in Egypt with internet speed reaching as high as 100 MB/S.

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https://www.dailynewsegypt.com/2018/07/25/international-carriers-are-second-largest-source-of-telecom-egypt-revenues/
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