Page 66 - SAMENA Trends - March-April 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Telecom Egypt Secures EUR150m in Funding from
European Investment Bank (EIB)

Telecom Egypt has announced the signing it will use to expand its 4G network. In a around 2,000 new mobile sites and the
of an agreement with the European press release regarding the development, installation of additional capacity layers
Investment Bank (EIB), the lending arm of Telecom Egypt noted that the funds will be to its existing portfolio of mobile towers.
the EU, to secure a medium-term loan of used to support improvements to its mobile The partnership, which was claimed to
EUR150 million (USD165 million) which network coverage via the deployment of represent the EIB’s largest mobile network
loan in Africa, will reportedly strengthen
the operator’s infrastructure across the
country, including in less densely populated
areas. Commenting, Adel Hamed, Telecom
Egypt’s Managing Director and CEO,
said: ‘We are very pleased to secure this
new credit line with EIB after extensive
deliberations, including the presentation
of our functional plan to improve our
mobile network’s scale, an objective that
comes in line with the bank’s priorities for
developmental projects. Telecom Egypt
will capitalize on its multiple financial
resources, newly awarded spectrum and
rich portfolio of valuable products, among
other factors, to continue serving its
growing customer base and strengthen
its competitive position in the Egyptian
telecom market.’

Telecom Egypt Reports 74% Y-O-Y Increase in Net Profit In 2021

Telecom Egypt has reported a 16% rise in
consolidated revenue for the year ended 31
December 2021, saying growth had been mainly
driven by a 30% uplift in data revenues and 26%
increase in infrastructure revenue. In the twelve-
month period under review, Telecom Egypt
recorded consolidated revenue of EGP37.088
billion (USD2.4 billion), up from EGP31.912 billion
in FY 2020, attributable to the company’s ‘Home
& Consumer’ operations rising by 26.1% year-
on-year, to EGP18.133 billion, while enterprise
revenues (EGP4.699 billion) and domestic
wholesale revenues (EGP5.847 billion) were up
19.5% and 25.2%, respectively. With regards
to other key financial indicators, the company
reported EBITDA of EGP14.193 billion for FY 2021,
up from EGP11.126 billion a year earlier, while
it recorded a notable uptick in net profit, which
increased to EGP8.417 billion, up from EGP4.850
billion in FY 2020. In terms of operational
highlights, Telecom Egypt reported that mobile
subscriptions surged in the closing three months also continued to increase, with the operator’s total standing at 8.028 million at
of 2021, increasing by more than 21% quarter- end-2021, up from 6.947 million a year earlier. Similarly, fixed voice subscriptions
on-quarter (and more than 27% y-o-y) to reach remained on an upward trajectory, increasing by almost 12% y-o-y to 11.013
9.365 million. Fixed broadband subscriptions million.

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