CAIRO – 14 August 2024: In the first half of 2024, Telecom Egypt experienced a significant revenue surge of 35 percent, totaling LE 38 billion, as disclosed by the company.
This growth primarily stemmed from a 46 percent increase in data services revenues within the Retail Business Unit, constituting 48 percent of the overall revenue upsurge.
Furthermore, revenue from incoming international calls and international capacity sales soared by 51 percent and 103 percent respectively.
The company also witnessed a rise in its customer base across all services, with fixed-line telephone and fixed-line Internet subscribers growing by 8 percent annually each.
Additionally, mobile service subscribers increased by 4 percent compared to the prior year.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed by 29 percent year-on-year to LE 15.5 billion, maintaining a profit margin of 41 percent.
Net profit after taxes remained steady at LE 6.5 billion year-over-year, achieving a profit margin of 17 percent.
Capex for in-service assets stood at LE 8.0 billion, equivalent to 21 percent of total revenues, while cash capital expenditure reached LE 27.4 billion, representing approximately 80 percent of the total for 2024.
Supplier payments reached LE 7.5 billion in the first half of 2024, accounting for 68 percent of the total obligations of LE 10.9 billion expected to be fulfilled within the fiscal year 2024.
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