Zain Q4 results hit hard by civil strife and currency depreciation

Zain Group announced its consolidated financial results for the year 2014 and fourth quarter ended December 31, 2014, ending the period with 44.3 million customers, reflecting a four per cent decline year-on-year.

For the year 2014, Zain Group generated consolidated revenues of US$4.3 billion, down two per cent year-on-year, while consolidated EBITDA for the period reached US$1.8 billion, down five per cent year-on-year. Zain’s EBITDA margin for the year stood at 41.8 per cent, while consolidated net income amounted to US$685 million for 2014, down 10 per cent.

For the fourth quarter of 2014, Zain Group recorded consolidated revenues of US$1.0 billion, down 11 per cent year-on-year, while EBITDA for the quarter reached US$406 million, down 17 per cent. Net income for the quarter amounted to US$ 115 million, down 36 per cent year-on-year.