SAMENA Daily News

'SAMENA Daily' - News

Orange Egypt FY revenue up by 7.7 percent

Orange Egypt’s revenues grew by 7.5 percent to EGP 12.68 billion in 2017. EBITDA reached EGP 3.7 billion, up by 25.4 percent despite the significant increase in the company’s network costs due the flotation of the Egyptian pound. The company said net profit reached EGP 123 million in Q4 2017, decreasing its net loss for the full year by 35.5 percent to EGP 1.6 billion. Orange attributed the loss mainly to the increase in financing costs.

Parent company Orange reported 34.117 million mobile customers in Egypt at the end of 2017, an increase of 1.234 million compared to Q3 2017 and 234,000 more than at the end of 2016. The company also had 344,000 fixed subscribers, down from 357,000 in 2016.