Orascom Telecom posts EP102 million 1Q03 net profit
Regional GSM mobile and internet services operator Orascom Telecom Holding (OTH) announced its consolidated results for the first quarter ending March 31, 2003. Over the three-month period, total subscribers reached 4.8 million, an increase of 12 percent increase over the previous quarter.
Proportionate subscribers have increased by 10.5 percent over the last quarter. Revenues have reached 1.155 billion Egyptian pounds ($188 million), an increase of 0.8 percent and 49 percent over first quarter results 2002, on actual and proforma basis respectively.
EBITDA has reached EP558 million, an increase of 19 percent and 83 percent over the first quarter of 2002, on actual and proforma basis respectively. Group EBITDA margin has improved to 48.3 percent from 40.8 percent over first quarter 2002.
EBITDA margin of the major subsidiaries are: Mobinil, as consolidated, 52.8 percent, Mobilink 66.3 percent, Djezzy 51.4 percent, and Telecel 33.1 percent. Net Income for the period has reached EP102 million in comparison to three million EP in the first quarter of 2002. Earnings per share reached EP0.93 versus EP0.02 in the first quarter of 2002.
Proforma figures include only the subsidiaries, which are consolidated in the first quarter of 2003 (excludes Fastlink, Telecel Benin, Telecel Gabon, Telecel Burundi, Telecel Zambia, Telecel Uganda and Telecel CAR). — (menareport.com)
© 2003 Mena Report (www.menareport.com)