Revenues for quarter up 12% to 549.8 Million LE, profitability remains strong with EBITDA of 240.6 Million LE (44 %)
Wednesday, October 04, 2000
The Egyptian Company for Mobile Services "MobiNil" (Ticker: EMOB.CA) reported a third quarter profit of LE 78.9 million on sales of LE 549.8 million for the period covering July 1, 2000 to September 30, 2000. EBITDA (Earnings before Interest, Tax, Depreciation and Amortization) for the quarter was LE 240.6 million or 44%, compared to 215.5 million LE and 44 % for the second quarter. The company's subscriber base increased by 172,000 in Q3 to reach a total of 1,022,000 subscribers.
"This quarter marks an important milestone for our operation," said Osman Sultan, President & CEO. "The million subscriber mark is a target we had set for the end of 2000, and we achieved it earlier than expected. We are continuing the pace of heavy investment to stay ahead of market demand. Our revenue growth is strong, reflecting the growing subscriber base and sustained demand for core voice and messaging services. Prepaid products and services have been the primary driver of growth in subscribers and revenues for this quarter. On the postpaid side the launch of our new brand, Moga for our postpaid offer to the residential market has been very successful. With Moga, we launched a new tariff plan that stimulates higher usage and rewards loyalty. Profits for the quarter reflects efficiencies from a segmented approach to the market. Targeted communication campaigns and reduced promotion costs have helped to keep acquisition costs low".
MobiNil continued to broaden its service offerings to all key segments. Prepaid customers saw the launch of the LE 25 scratch card, the SMS service, new ALO Duettos (Handset-starter kit bundles), and an extension of the ALO Takseet product to include a 18 month payment option. Corporate users saw the launch of tailored pricing plans and the SMS-based DHL shipment tracking service - a user-friendly SMS application that allows real-time tracking of DHL packages. Postpaid services were expanded under the Moga umbrella with the introduction of the "Call & Control" service - a budget management tool for members of the Family program. The "Call & Control" service is also a first in the innovative use of the Easy Go calling cards for domestic calls. "The evolution of postpaid services under the Moga umbrella is a key aspect of our acquisition and retention program", said Osman Sultan, "We are bringing specialised services that are tailored to the needs of customer groups".
-Ends-About MobiNil
The Mobile GSM900 cellular network in Egypt is operated by The Egyptian Company for Mobile Services (ECMS), an Egyptian public company.There are more than 2 million subscribers to MobiNil's service in Egypt today.
Press contacts:
Taha Saifullah, Media Relations Manager, MobiNil
Tel: (20) 12 320 1021, Mob: (20) 12 313 8955
Fax: (20) 12 320 6682
Email: tsaifullah@MobiNil.com
Tamer Zakaria, Media Relations Specialist, MobiNil
Tel: (20) 12 320 6685, Mob: (20) 12 319 9727
Fax: (20) 12 320 6682
Email: nhamid@MobiNil.com
© Press Release 2005
