Orascom Telecom returned to profitability in 1Q 2002
Orascom Telecom Holding returned to profitability in the first quarter of 2002, posting a net profit of 3.1 million Egyptian pounds ($670,000) and reaching record earnings before interest, taxes, depreciation and amortization (EBITDA) margins approaching 50 percent in MobiNil and Fastlink and 62 percent at Mobilink.
Algeria delivered a positive EBITDA margin in its first quarter of operations. Group
EBITDA has reached 40.6 percent. OT’s businesses in the region continued to grow steadily with proportionate subscribers growing 74 percent year on year and 10 percent on the previous quarter.
Total subscribers reached 4,410,431, a nine percent increase compared to the fourth quarter of 2001. The group continued to diversify its revenue distribution across its portfolio of companies. The increase in subscribers was reflected in a turnover increase from EP 757 million to EP 1.15 billion, a 52 percent increase compared to the first quarter of 2001.
With twenty-one licenses, telecom and Internet services operator conglomerate OT is the largest GSM (Global System for Mobile Communications) network operator in the emerging markets of the Middle East, Africa, and Indian sub-continent. The company was awarded a GSM license in Tunisia in March 2002. — (menareport.com)
© 2002 Mena Report (www.menareport.com)