MobiNil adds 250,000 subscribers in Q1

Published April 23rd, 2001 - 02:00 GMT

MobiNil, the Egyptian company for mobile services, has reported that its active subscriber base grew by 250,000 during the first quarter of 2001, currently standing at 1.466 million. 

 

According to company figures, Q1 revenues rose by 19 percent, compared to the same period the year before, reaching 591.7 million Egyptian pounds. The consolidated net income for the quarter was EP90.5 million, up 160 percent from the first quarter 2000.  

 

The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for the quarter was 46.2 percent, representing EP273.6 million, an improvement of 2.5 points from an EBITDA of 43.7 percent for the full year 2000. 

 

The first quarter has been one of the best ever recorded by the company, in terms of subscriber base, said Osman Sultan, MobilNil’s president and CEO. “We focused on maintaining our market share leadership, sustaining our profitability, while improving our operational efficiency and increasing the capacity of our network to address future growth.” The company expects to sustain profitability growth with increasing economies of scale, aggressive cost management and lower costs to serve the expanding customer base, he added. 

 

Since the January 2001, the company has kicked off a range of new services. "One of them is “BudgetMaster," which allows corporate clients to better manage the costs of their employees’ mobile phone calls, by setting limits on calls that can be made. 

 

Another service is IS-SMS. Offered in cooperation Info2Cell and LinkDotNet, it is a text-based service that brings information to the mobile phone in the form of an SMS message. — (Albawaba-MEBG)

© 2001 Mena Report (www.menareport.com)


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