Egypt based Orascom Telecom Holding has announced that its third-quarter revenues rose by 1.6% compared to a year ago, to US$3.12 billion. Net profit surged by 130% though to US$951 million, although this was boosted by the one-off gain of US$ 822 million from the disposal of its stake in Egypt’s Mobinil to France Telecom. Without that gain, the net profit would have dropped to US$112 million, from US$413 million a year ago.
EBITDA dropped by 0.8% to US$1.33 billion. As of September 30th, 2010, net debt stood at US$ 4.07 billion.
Total subscribers surpassed the 100 million mark, and have now exceeded103 million, an increase of 16% over the same period last year.
Khaled Bichara, Group CEO, commented on the results: “Djezzy has displayed resilience and maintained relative stability, despite local governmental restrictions and actions, which have resulted in a toughening operational environment and which threaten network quality.”
“In Pakistan, the economy was strongly hit by the major flood, causing a loss of infrastructure and agricultural crops. It has been estimated that GDP growth may drop to 2%, missing the 4.5% GDP initial growth target, which will inevitably have a significant effect on the operation’s growth in the country. Mobilink’s infrastructure was also hit with damages to over 400 sites out of a total of 8,070 sites. Responsive measures were quickly undertaken to ensure the operation of our network. As part of Orascom Telecom’s corporate social responsibility program, OTH joined in relief efforts by launching a donation campaign in partnership with the World Food Program, and with the cooperation of the Mobilink Foundation, WIND Canada and Wind Italy for the benefit of the flood victims in Pakistan. Furthermore, the employees of Mobilink offered their services in relief efforts, which resulted in over 1,000 volunteer hours dedicated to more than 112,000 victims of the flood.”
“Our Tunisian operation increased its subscriber base by 21% compared to the first nine months of 2009. Tunisiana also managed to increase its market share to 53% through several promotional campaigns aimed at ensuring its position against the new third entrant into the market.”
“Subscribers in Bangladesh increased by over 49% YoY in preparation for the entry of a new player into the Bangladeshi telecommunications market.”
“In Canada, WIND Mobile has achieved strong subscriber growth through promotions aimed at facilitating the switch to their new network and increased sales presence.”
