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Orascom Telecom reports 38% increase in revenues to $979M and a 101% increase in total subscribers to 35M in Q1
May 23, 2006
2 Min Read
CAIRO, Egypt -- Orascom Telecom Holding (OTH) (Ticker: ORTE.CA, ORTEq.L, ORAT EY, OTLD LI), announces its first quarter 2006 consolidated results.
Highlights
Total subscribers reached 35 million, an increase of 101% over March 2005.
Proportionate subscribers reached approximately 27 million an increase of 121% over March 2005.
Revenues of US$ 979 million (LE 5,630 million(1)), an increase of 38% over March 2005.
EBITDA reached US$ 434 million (LE 2,524 million(1)), an increase of 45% over March 2005.
Group EBITDA margin stood at 44.3%, GSM EBITDA(2) margin stood at 50.5%. EBITDA margins of the major subsidiaries are: Djezzy 63.6%, Mobilink 37.2%, MobiNil 49.3%, Iraqna 53.6% and Tunisiana 45.6%.
Net income for the period reached US$ 147 million (LE 871 million(1)) an increase of 10% over March 2005.
Earnings per Share reached US$ 0.67 vs. US$ 0.61 in March 2005.
Net debt stood at US$ 2,973 million (LE 17,095 million(1)) on 31 March 2006.
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.
Operational Performance
During the first quarter of 2006, OTH continued to aggressively expand its subscriber base, reaching over 35 million subscribers, a 16% increase quarter-on-quarter and a 101% year-on-year. Mobilink surpassed 14 million subscribers, adding approximately one million subscribers a month.
Since March 2005, OTH has increased its proportionate subscribers by 121% from 12 million to 26.6 million.
While in most subsidiaries ARPU's stabilized in comparison to the last quarter, it continued to decline in comparison to March 2005 as OTH continues to penetrate lower segments of the market. ARPUs recovered in Djezzy from US$ 12.8 in the last quarter to US$ 14.6 in this quarter, after it was affected in December by the Algerian regulator's retroactive ruling on the termination rates.
OTH continued to maintain its leading market share in its core assets, In Tunisia and Bangladesh, OTH continued to increase its market share and maintained its dominance in Algeria, Pakistan and Egypt.
Orascom Telecom
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