Tuesday, August 12, 2008

Net profit of Egypt's mobile operator Mobinil drops by 18% in Q2.

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Net profit of Egypt's mobile operator Mobinil drops by 18% in Q2. The net profit of Egypt 's mobile phone operator Mobinil dropped by 18% to EGP 425mn (USD 80.2mn) in Q2/2008, Mobinil said in a statement. As the company expanded its customer base into lower-income groups, the average revenue per user (ARPU) declined to EGP 47 (USD 8.8) a month from EGP 59 (USD 11.1) last year. But the number of subscribers rose by 40% y/y to EGP 17.5mn (USD 3.3mn) in June. The company said earnings before interest, taxation, depreciation and amortization (EBITDA) rose 8.5% y/y to EGP 1bn (USD 166.6mn) in Q2. Global revenue also increased by about 17% y/y to reach EGP 2.4bn (USD 453mn) in the same period.

Bank deleveraging has barely started

Abigail Hofman:

Net profit of Egypt's mobile operator Mobinil drops by 18% in Q2.

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