May 22, 2022

Dubai Week

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Gulf News |  Zain Group raises quarterly net profit to $ 156 million

Gulf News | Zain Group raises quarterly net profit to $ 156 million

Zain Group today reported strong growth in its key financial indicators for the first quarter of the current fiscal, with the Group increasing its quarterly net profit to 6%.%Compared to 45 million dinars ($ 147 million) in the same period of 2021, it reached approximately 47 million dinars ($ 156 million) with a return of 11 bills per share.

Zain said in a statement that it had increased its consolidated quarterly revenue by 7% in the first quarter%To record 408 million dinars ($ 1.35 billion), the total revenue for the same period in 2021 was compared to 382 million dinars ($ 1.26 billion).

And Zain, a leading company in digital innovation in the Middle East and African markets, noted the amount of profit before deduction taxes, interest and depreciation.EBITDADuring the same period in 2021 it was 154 million dinars ($ 507 million) with 158 million dinars ($ 523 million), and the profit marginEBITDA38%.

The group reported a 5% increase in its customer base.%It grew to about 50.9 million customers, and the growth was attributed to the enormous speed of its operations in the Saudi and Iraqi markets, while the group’s operations data service revenue recorded $ 536 million, representing 40.%In gross consolidated revenue.

The group said its key financial indicators had been affected by the translation of foreign currencies, mainly from the devaluation, with Sudan’s currency averaging 271 Sudanese pounds / dollars (483 Sudanese pounds / $) in the first quarter of 2021 and $ 80 million per group in 2022. Millions of pre-tax revenues and consumptionEBITDA.

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Ahmed Al-Tahoos, Chairman of the Zain Group’s Board of Directors, said: “The Jain Group is looking for lucrative opportunities in new areas of development as they are ready to invest in the next phase of development of the telecommunications sector and information technology. Demonstrates continued focus on expansion.

Badr Nasser Al-Gharafi, Vice President and CEO of Jain Group, said: “Strong Performance Our operations, especially in Kuwait and Saudi Arabia, have increased net profit by 22%.%And 97%Respectively, due to the growth of 5G network customers and the expansion of the enterprise and business sectorB2BThis performance was supported by the strong growth of Jain Sudan’s operations, which reached a strong 156 strong increase in its quarterly net profit.%This is due to its success in gaining more customers for the 4G network. ”

Bahrain .. Data Development

Zain Bahrain’s operations recorded quarterly revenue growth of 4%%Earnings before interest, tax and depreciation increased to $ 46 millionEBITDABy 3%Reaching $ 15 million, the opposite marginEBITDABy 33%Net profit increased 3%Data services revenue increased 6% during the period, reaching $ 4.2 million%To mark 45%In total revenue.