Dear Madam / Sir,
For immediate release
Oct 22, 2008
Zain, the leading mobile telecommunication operator in the Middle East and Africa present in 22 countries, announces today its consolidated financial results for the third quarter of 2008. The results showed significant growth in revenues, net profit and customer numbers.
Q3-2008 Key Performance Indicators
Total Managed Active Customers 56.3 million
Consolidated Revenues US$ 1.887 billion
EBITDA US$ 763.6 million
Net Income US$ 326.6 million
EPS US$ 0.09
For the third quarter of 2008, Zain Group recorded consolidated revenues of US$1.887 billion, an increase of 25% compared to Q3-2007. The company’s consolidated EBITDA increased by 20% for the same period to reach US$763.6 million. Zain consolidated net profits reached US$326.6 million, an increase of 7% on Q3-2007 profits.
Year on year customer growth across the two continents where Zain operates was 54% with the Zain Group serving 56.3 million managed active customers at 30 September, 2008.
