Zain Group full-year net income down 15%

Zain Group today reported that it added 3.4 million new customers over the twelve months to end-2013, bringing its base to 46.1 million, and reflecting an eight per cent growth rate.

For the fourth quarter of 2013, Zain Group recorded consolidated revenues of US$1.12 billion, up two per cent year-on-year. EBITDA for the quarter amounted to US$492 million, reflecting an EBITDA margin of 44 per cent and an increase of three per cent year-on-year. Net income for the quarter came in at US$180 million, flat compared to the same period in 2012.

For the full-year, Zain Group generated consolidated revenues of US$4.4 billion, down four per cent year-on-year. Consolidated EBITDA for the period amounted to US$1.9 billion, down 6.9 per cent, and reflected an EBITDA margin of 43.4 per cent. Consolidated net income amounted to US$764 million, down 15.3 per cent year-on-year.