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Telekom Egypt generated revenue of 17.4 billion euros in 9 months



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Thursday, November 15, 2018 – 10:12
| Last Updated:
Thursday, November 15, 2018 – 10:12

The Egyptian Telecommunications Company (VE) reported revenues of 17.4 billion LE for 9 months from January to September 30, 2018, an increase of 32% over the same period of 2017.

The company announced in a statement Thursday that this revenue growth is a result of 45% growth in Internet services, with the contribution of a 1.6 billion-pound bond with Bharti.

He added that he continues to increase the number of subscribers in all services provided, with the number of subscribers to 3.6 million users, an increase of 300,000 customers during the quarter despite the introduction of development costs to new lines starting from the third quarter this year and increased the number of subscribers Fixed a 10% line compared to last year and a 29% increase in the number of high-speed Internet clients.

EBITDA amounted to EUR 5.3 billion, an increase of 36% over the same period last year, with the support of revenue growth, while profit margins stabilized at 31%.

Total operating profit increased by 37% compared to the same period last year, despite the increase in depreciation costs by 49% compared to the same period last year, indicating a net profit after taxes in relation to the same period last year. To reach £ 3.5 billion.

"The results show the company's outstanding operational capability and operational efficiency. In the third quarter of this year, he managed to make two major projects in record time: a strategic partnership with Bharti and a cable optical cable project This quarter also witnessed the launch of a unique billing system that includes mobile services , fixed and high-speed Internet. "

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