MobiNiL records $126 million in consolidated revenues for 3Q 2002
The Egyptian Company for Mobile Services (ECMS) MobiNiL reported an active subscriber base of 2.13 million in September. The company recorded consolidated revenues of 770 million Egyptian pounds ($126.9 million) for the third quarter of the year compared to EP 588 million for the third quarter of 2001.
The company’s EBITDA reached EP 431 million representing an EBITDA margin of 56.0 percent for the quarter. Consolidated net income reached EP 217 million for the third quarter of the year while the first three quarters had a consolidated net income of EP 371 million.
Operating since May 1998, MobiNil is currently the largest wireless service provider in the Middle East. The company’s network covers over 93 percent of Egypt’s populated areas with roaming agreements signed with over 75 international carriers. — (menareport.com)
© 2002 Mena Report (www.menareport.com)