Zain H113 net income down 22%

Zain Group reported that revenues in H113 to June 30 amounted to KWD612 million (US$2.16 billion), down 10 per cent year-on-year, while net income came in at KWD113, down 22 per cent.

Consolidated EBITDA for the same period reached KWD 265 million, down 13 per cent year-on-year, reflecting an EBITDA margin of 43.3%, down from 45.1 per cent a year earlier.

Total active subscribers numbered 44.4 million, up seven per cent year-on-year, with the operator explaining that adverse currency translation impact predominantly in the Republic of Sudan, cost the company the equivalent of US$347 million in revenues, US$150 million in EBITDA and US$80 million in net profit for the six month period.

Group data revenues as a percentage of overall service revenues constitute 13 per cent of group revenues, up 19 per cent from a year ago.

Zain country operational six-month highlights included:

· Kuwait: Year-on-year customer growth of 11 per cent reaching 2.4 million, launched nationwide 4G LTE with data currently representing 28 per cent of revenues

· Bahrain: Customer base grew by 36 per cent; recently launched 4G LTE

· Iraq: Customer base grew by eight per cent to 13.9 million as operation expands network to North Iraq

· Jordan: Maintains customer and value leadership through dynamic marketing campaigns

· Lebanon: Management contract extended to 30 September 2013

· Saudi Arabia: 4G LTE network and aggressive marketing campaigns contribute to12% customer growth to reach 8.3 million, revenue growth of 12 per cent

· Sudan: In SDG currency terms, revenues grew by 23 per cent year-on-year, with healthy EBITDA growth of 26 per cent with 12.5 million customers served

· South Sudan: Customer base grew by 27 per cent while revenues grew by 36 per cent in US dollar terms