Page 30 - SAMENA Trends - June-July 2020

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

give us the motivation to do more during
the coming period. It will also help us
to continue focusing on developing our
employees and aligning their skills with
future jobs, he added. Omantel considers
its employees as the most valuable asset,
and therefore it invests heavily in building
their capacities and providing them the
best opportunities to enhance their skills
in various fields. Through its Learning
and Development function, Omantel
adds significant value to its business by
addressing three key business challenges
that include; retaining talent, business
sustainability, and enhancing leadership
capability. Given the complexity of tackling
all talent issues during a single time
period, beginning in 2016, the company services provider, enabling the digital highest level of customers’ satisfaction
implemented a unique four-year talent society to flourish, allowing new ways as the most reliable and wide national
journey focusing on a different issue every of doing business and delivering a world network.
year. Omantel is the Sultanate’s first and of information, news and entertainment.
leading integrated telecommunications Today, Omantel is working to achieve the

Telecom Egypt Records 19% Net Profit Drop In

1Q20, Although Sales Climb 3%

Telecom Egypt (TE) reported consolidated revenue of EGP7.00 earlier. Of that figure, the lion’s share – 5.679 million, up from
billion (USD432 million) for the first quarter of 2020, representing 5.248 million – were residential subscribers. With regards to the
a 3% year-on-year increase, attributing the growth mainly to company’s mobile operations, it reported a customer base of
strong retail performance and higher data revenue. In the three 6.181 million as of end-March 2020, a more than 45% annualized
months ended 31 March 2020 turnover from TE’s Home & increase from 4.247 million a year earlier.
Consumer division represented the largest proportion (44.7%)
of its total, EGP3.13 billion, up from EGP2.40 billion in 1Q19.
Revenue generated by the Domestic Wholesale and International
Carriers units reached EGP1.25 billion (down 5% y-o-y) and
EGP1.13 billion (up 1% y-o-y), respectively, while Enterprise unit
turnover was EGP786 million, up from EGP750 million. Rounding
out the revenue breakdown, TE posted International Customers &
Networks sales of EGP703 million in 1Q20, compared to EGP498
million a year earlier. TE reported EBITDA of EGP2.28 billion for
1Q20, a 20% increase against the EGP1.90 billion recorded in the
corresponding period of 2019. Net profit after tax totaled EGP1.3
billion, down 19% y-o-y, with the company saying this reduction
was due to a ‘28% y-o-y decline in investment income from
Vodafone resulting from one-off costs and provisions’, which had
more than offset strong operational growth and foreign exchange
gains. In operational terms, at the end of March 2020 TE had 5.925
million fixed broadband accesses on its books, representing a
more than 7% increase against the 5.535 million reported a year

30 JUNE-JULY 2020