CAIRO: Mobinil reported that it had a total 15.118 million subscribers by the end of 2007, an increase of 63 percent over the same period last year, recording a net addition of 5.851 million subscribers.
In a press statement, Alex Shalaby, president and CEO, said, “2007 was definitely a remarkable year for Mobinil. I am pleased to see Mobinil cross the 10 and 15 million subscriber milestones in one year with the highest level of net additions of almost 6 million subscribers; a figure that was beyond all market expectations.
The mobile operator released its 2007 consolidated results, reporting net revenues of LE 8.2 million, a 29 percent rise over the same period last year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 15 percent to reach LE 3.7 million, reflecting an EBITDA margin of 45.1 percent.
Net income increased by 20 percent over the same period last year, reaching LE 1,824 million.
“We succeeded in maintaining our market leadership by offering innovative services and competitive offers tailored to meet the needs of our subscribers. This success is due to our focused attention on strategic goals to increase subscribers’ loyalty by simplifying tariffs, stimulating usage, and a determined effort to reinforce our customer intimacy leadership, Shalaby said.
“This success is a result of a series of consecutive offers made throughout the past two years and continued in 2007. .These offers resulted in increasing the full year average usage per user (AUPU) to reach 132 minutes/month, representing an increase of 11 percent over the same period last year, he added.
There was a growth of 33 percent on the service revenues over the same period last year.
The 15 percent growth in EBITDA is a result of the “accelerated growth associated cost on both the subscriber’s acquisition and network fronts, said Shalaby.
Capital expenditure reached its peak at LE 3.264 million during the year representing the highest level of investment in a single year since Mobinil’s inception, he added.
Mobinil Chairman Naguib Sawiris said, “I am proud to see Mobinil fulfill its promises while actively leading on growth and change in the Egyptian mobile market through innovative offerings and competitive services.
