Orascom Reports Q1 641740

Egypt-based mobile operator Orascom reports revenues of $1.2B, an increase of 22% over March 2006

May 15, 2007

1 Min Read

CAIRO, Egypt -- Orascom Telecom Holding (OTH) (Ticker: ORTE.CA, ORTEq.L, ORAT EY, OTLD LI), announces its first quarter 2007 consolidated results.

Highlights

  • Total subscribers exceeded 56 million, an increase of 61% over March 2006.

  • Proportionate subscribers exceeded 44 million, an increase of 68% over March 2006.

  • Revenues of US$ 1,195 million1 (LE 6,845 million), an increase of 22% over March 2006.

  • EBITDA reached US$ 517 million1 (LE 2,966 million), an increase of 19% over March 2006.

  • Group EBITDA margin stood at 43.3%.

  • GSM EBITDA2 margin stood at 48.1%. EBITDA margins of the major subsidiaries are: Djezzy 61.1%, Mobilink 39.5%, Mobinil 49.3%, Iraqna 42.3% and Tunisiana 51.2%.

  • Net income for the period reached US$ 168 million1 (LE 970 million) an increase of 7% over March 2006.

  • Earnings per GDR reached US$ 0.78 vs. US$ 0.72 in March 2006.

  • Net debt stood at US$ 3,807 million1 (LE 21,796 million) on 31 March 2007. Net Debt/EBITDA3 for the period is 1.87



1. US$ financial figures in the Income Statement & Balance Sheet are according to the International Financial Reporting Standards (IFRS)

2. GSM EBITDA margin excludes: Telecel.

3. EBITDA is calculated on the basis of the last twelve months.

Operational Performance

During the First quarter of 2007, OTH continued its momentum of growth by adding 4.9 million subscribers. During this quarter, Mobilink added over 2 million subscribers, and Mobinil added approximately 1.5 million and crossed the 10 million subscriber threshold; and Djezzy crossed 11 million. In Iraq, the current security situation has created significant emigration of Iraqis.

This phenomenon combined with a cleanup of the dormant subscriber base led to a decrease of subscribers in Iraq.

Orascom Telecom

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like