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LE 17.4 billion of total WE revenue over 9 months



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LE 17,4 MILLION ARE ALL TOTAL INCOME IN 9 MONTHS FROM MASRESS LOCATION, ON WINNES, NOVEMBER 16, 2018.

LE 17.4 billion of total WE revenue over 9 months

Hany El Rouby Published in the Rosalieus daily on 16 – 11 – 2018

Telecom Egypt today announced its financial results for the period ended September 30, 2018, according to consolidated financial statements prepared in accordance with Egyptian accounting standards. The results of the second quarter of 2018 showed total consolidated revenue for the period ending September 30, 2018, 17.4 billion pounds, a 32% increase over the same period last year due to the increase in Internet service revenues by 45 %, and the agreement with Bharti contributed £ 1.6 billion.
The number of mobile subscribers increased to 3.6 million, an increase of nearly 300,000 in this quarter, despite the imposition of development charges on new lines starting with the third quarter of 2018, Fixed Line 10% over last year , and the number of high-speed Internet customers increased by 29%.
EBITDA amounted to 5.3 billion EGP, a 36% increase over the same period last year, driven by revenue growth, while profit margins stabilized at 31%. Total operating profit increased by 37% over the same period of the year. Despite the large increase in depreciation and amortization expenses, which amounted to 49% over the same period last year.
Net profit after tax stabilized compared with the same period last year, reaching Egyptian pound 3.5 billion, after the first half of the year, estimated at 18%.

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