Orascom records strong Q1 performance

  
Mobinil helped Orascom Telecom to report 74 million subscribers.

Orascom Telecom reported a rise in revenues by 22 per cent year on-year to US$1.295 billion in Q108. EBITDA rose 28 per cent to US$584m, as net income topped US$210m for the period, an improvement of 25 per cent year-on-year.

Orascom Telecom’s subscriber base grew 38 per cent from March 2007 to exceed 74 million. The large majority of its total customer base is derived from Mobilink in Pakistan (31.8 million), Mobinil in Egypt (16.1 million) and Djezzy in Algeria (13.8 million). However, Bangalink in Bangladesh saw the sharpest increase in subscriber numbers, rising 115 per cent year-on-year from the same period in 2007 to 8.3 million subscribers at the end of March.

ARPU decline slowed over the course of the year, with growth registered in Tunisia and Bangladesh. Proforma global ARPU in Q108 – excluding Iraqna – stood at US$6.6. Other highlights in the quarter include the securing of a US$2.5bn committed bank facility, used to refinance outstanding debt and for general corporate purposes. In April, Orascom Telecom also announced a US$1.6bn cash tender offer for up to 106 million ordinary shares.