How has Telecom Egypt achieved LE 6.1 billion revenue in 90 days?

Economy and stock exchange

Telecom Egypt reported revenues of LE 6.1 billion during the first quarter of 2019, a 27.3% year-on-year increase and 12.5% ​​quarter-on-quarter growth.

– Domestic sales of the IRU's use of the IRU system reached LE 400 million, which led to a 48.8% annual increase in the revenues of the operator's business unit and 60% quarter.

– Internet services revenues for the Housing and Personal Communications business unit increased by 35.5% year-on-year, driven by a 27.2% increase in the number of Internet subscribers due to the low penetration rates of companies in this area.

– Revenues of 86 million pounds from the Port Said digital transformation program, as well as 93 million pounds from other infrastructure projects including the Urban Communities Authority, which supported revenues of the business unit of companies and institutions by 28.6% year on year.

– Mobile phone revenues grew, contributing to a small double digit growth in retail revenue.

– The addition of new customers at all levels. The number of subscribers to the landline service increased by 13.0% per annum and 3.2% quarter on quarter. Mobile customers also increased by 44.9% annually and 10.0% quarter on the basis of the operation of 613 thousand SIM cards for the first grade students .

– Revenue growth in the first quarter of 2019 could be due to relatively poor performance in the fourth quarter of 2018, according to Pharos Investment Bank.

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