Page 28 - SAMENA Trends - November-December 2019

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Sudatel Appoints New CEO as the Company Prepares

for Further Expansion and Growth

Sudatel Telecom Group Board of Directors worked for Sudatel since 2013 and was am delighted and honored to be leading
has appointed Mr. Sami Yousif Mohamed most recently the Executive Vice President a company that I greatly admire. I am
as CEO and Group President effective for Financial and Administrative Affairs of working on a five year plan for Sudatel
immediately. The appointment comes the Group. Previously he was Director of which will enable us to grow steadily and
as Sudatel prepares to invest heavily in Finance in The Arab Investment Company, meet the demands of businesses and
its operations in side Sudan and across which is owned by the Governments of 14 consumers across our footprint”.
countries West Africa. Mr. Yousif has Arab states. Mr. Yousif said “Of course, I

Telecom Egypt Records 10% Y-o-Y Increase in

Revenue in 3Q19

Telecom Egypt (TE) has reported a 10% base continued to increase, rising to 4.575 moving in the right direction with revenue
increase in consolidated revenue for million at the end of the reporting period, continuing to grow at a double digit and
the quarter ended 30 September 2019, up from 3.589 million at end-September filtering through to EBITDA, especially
with total turnover reaching EGP6.316 2018. Fixed broadband accesses also in light of the absence of any one-off or
billion (USD391 million), with the largest maintained an upward trend, reaching project based revenue in the quarter. That
contribution arising from its ‘International 5.700 million at 30 September 2019, up said, such investment led to a jump in
Customers & Networks’ and ‘Home & from 4.968 million a year earlier, with fixed depreciation and financing expenses that
Consumer’ operations, which generated voice lines standing at 8.387 million (Sep- has pressured the bottom-line in spite
EGP2.099 billion and EGP2.085 billion, 18: 7.589 million). Commenting on the of strong operational performance, yet
respectively. EBITDA for the quarter totaled company’s performance, Adel Hamed, TE’s we have created a large opportunity and
EGP1.063 billion, which represented a 48% group chief executive, said: ‘The results we exceptional positioning for us to monetize
year-on-year decline from the EGP2.036 announce today are a signal that we are such investment for years to come.’
billion recorded in 3Q18, with a margin
of 17%. TE attributed the drop in EBITDA
to the impact of its deal struck with
Bharti Airtel in 3Q18 for global submarine
systems, and its early retirement program
(ERP), saying that excluding the Bharti
deal from Q3 2018 and the ERP from Q3
2019 ‘leads to a normalized flat EBITDA
and a margin of 24%’. Net profit after
tax totaled EGP1.089 billion, down from
EGP1.448 billion, with TE again stating
that the figure would have been flat y-o-y
when excluding the Bharti deal, noting also
that foreign exchange gains and higher
investment income from Vodafone had
offset the ERP and higher depreciation
expenses related to an accelerated CAPEX
program. In operational terms, TE’s mobile

28 NOVEMBER 2019