25 April 2011
KUWAIT: Wataniya Telecom (National Mobile Telecommunications Company K.S.C) announced its financial results for the first quarter 2011: Sheikh Abdullah Bin Mohammed Bin Saud Al Thani, Chairman of Wataniya Telecom commented: "The first quarter of 2011 was another successful period for Wataniya Telecom showing continuous growth in customers, revenue and EBITDA. We concluded the increase in shareholding of Tunisiana from 50% to 75%, thus permitting this entity to be fully consolidated into NMTC. In Q1 2011 Wataniya Telecom has seen an increase in revenue of 35.1% and EBITDA by 57.5% compared with Q1 2010." He added: "We are committed to providing high quality products and services in order to meet our customers' needs and demands.
Operational Highlights:
* Total customer base increased to 16.6 million at the close of Q1 2011, versus 15.8 million at the same period in 2010, amounting to growth of 5.6%.
* Revenues for Q1 2011 amounted to KD 169.8 million ($ 615.0 million), compared with KD 125.7 million ($ 455.1 million) for the same period in 2010, amounting to growth of 35.1%.
* EBITDA for the first quarter was KD 73.4 million ($265.9 million), compared to EBITDA of KD 46.6 million ($168.8 million) for the same period in 2010, amounting to growth of 57.5%.
* The consolidated Net Profit was at KD 285.1 million ($1.03 billion), compared to Net Profit for the same period in 2010 of KD 16.2 million ($58.7 million). Net Profit for Q1 2011 includes a fair value gain of KD 265.5 million ($961.5 million) recorded due to revaluation of existing held interest in Tunisiana following the increase in the shareholding from 50% to 75%. The Net Profit in Q1 2011 without the fair value gain was KD 19.6 million ($71.1 million), an increase of 21.2% on the same period of 2010.
* The consolidated earnings per share was 569 fils ($2.1), compared to 32 fils (12 cents) per share earned for the same period last year. Excluding revaluation gain the earnings per share increased to 39 fils (14 cents).
Wataniya - Kuwait
Wataniya Kuwait's customer base increased to 1.87 million customers at the end of Q1 2011, an increase of 15.2% on Q1 2010. Revenues for the first quarter 2011 were KD 62.6 million ($ 226.5 million), an increase of 18.4% compared to revenues for the same period in 2010 of KD 52.8 million ($191.4 million). EBITDA for Q1 2011 was KD 29.9 million ($108.2 million) compared to EBITDA for the same period in 2010 of KD 21.7 million ($78.5 million), an increase of 37.8%. net profit was at KD 285.2 million ($ 1.03
billion), compared to Net Profit for the same period in 2010 of KD 14.7 million ($53.1 million).
Net Profit for Q1 2011 includes a fair value gain of KD 265.5 million ($961.5 million) recorded due to revaluation of existing 50% held interest in Tunisiana following the increase in the shareholding from 50% to 75%. The Net Profit in Q1 2011 without the fair value gain was KD 19.7 million ($71.3 million), an increase of 34.3% on the same period of 2010.
KUWAIT: Wataniya Telecom (National Mobile Telecommunications Company K.S.C) announced its financial results for the first quarter 2011: Sheikh Abdullah Bin Mohammed Bin Saud Al Thani, Chairman of Wataniya Telecom commented: "The first quarter of 2011 was another successful period for Wataniya Telecom showing continuous growth in customers, revenue and EBITDA. We concluded the increase in shareholding of Tunisiana from 50% to 75%, thus permitting this entity to be fully consolidated into NMTC. In Q1 2011 Wataniya Telecom has seen an increase in revenue of 35.1% and EBITDA by 57.5% compared with Q1 2010." He added: "We are committed to providing high quality products and services in order to meet our customers' needs and demands.
Operational Highlights:
* Total customer base increased to 16.6 million at the close of Q1 2011, versus 15.8 million at the same period in 2010, amounting to growth of 5.6%.
* Revenues for Q1 2011 amounted to KD 169.8 million ($ 615.0 million), compared with KD 125.7 million ($ 455.1 million) for the same period in 2010, amounting to growth of 35.1%.
* EBITDA for the first quarter was KD 73.4 million ($265.9 million), compared to EBITDA of KD 46.6 million ($168.8 million) for the same period in 2010, amounting to growth of 57.5%.
* The consolidated Net Profit was at KD 285.1 million ($1.03 billion), compared to Net Profit for the same period in 2010 of KD 16.2 million ($58.7 million). Net Profit for Q1 2011 includes a fair value gain of KD 265.5 million ($961.5 million) recorded due to revaluation of existing held interest in Tunisiana following the increase in the shareholding from 50% to 75%. The Net Profit in Q1 2011 without the fair value gain was KD 19.6 million ($71.1 million), an increase of 21.2% on the same period of 2010.
* The consolidated earnings per share was 569 fils ($2.1), compared to 32 fils (12 cents) per share earned for the same period last year. Excluding revaluation gain the earnings per share increased to 39 fils (14 cents).
Wataniya - Kuwait
Wataniya Kuwait's customer base increased to 1.87 million customers at the end of Q1 2011, an increase of 15.2% on Q1 2010. Revenues for the first quarter 2011 were KD 62.6 million ($ 226.5 million), an increase of 18.4% compared to revenues for the same period in 2010 of KD 52.8 million ($191.4 million). EBITDA for Q1 2011 was KD 29.9 million ($108.2 million) compared to EBITDA for the same period in 2010 of KD 21.7 million ($78.5 million), an increase of 37.8%. net profit was at KD 285.2 million ($ 1.03
billion), compared to Net Profit for the same period in 2010 of KD 14.7 million ($53.1 million).
Net Profit for Q1 2011 includes a fair value gain of KD 265.5 million ($961.5 million) recorded due to revaluation of existing 50% held interest in Tunisiana following the increase in the shareholding from 50% to 75%. The Net Profit in Q1 2011 without the fair value gain was KD 19.7 million ($71.3 million), an increase of 34.3% on the same period of 2010.
© Kuwait Times 2011
