Page 31 - SAMENA Trends - October 2019

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

VIVA Reports KD 31.6 Million (US$ 104 Million) Net Profit during the Nine-

Month Period Ending 30 September 2019

VIVA, a world-class digital leader providing innovative services and
platforms to customers and enabling the digital transformation in
Kuwait, and a subsidiary of STC Group, announced the financial
results for the nine-month period ended 30 September 2019;
whereby VIVA’s Revenues reached KD 215.6 million, and the net
profit reached KD 31.6 million for the nine-month period ended
30 September. Commenting on the financial results, Eng. Maziad
Nasser Al Harbi, VIVA CEO said: “The company’s financial results
grew during the third quarter compared to the second quarter
of this year, third quarter revenues reached KD 76.1 million
compared to KD 72.9 million during second quarter of 2019, a
growth of 4.3%, EBITDA grew by 11.0% reaching KD 21.4 million in
the third quarter of 2019.while, the net profit for the same period
increased to reach KD 11.7 million compared to KD 10.3 million
for the second quarter of 2019, a growth of 13.3%. VIVA was able
to achieve this growth during the third quarter of 2019 despite the
continued competition witnessed in the Kuwaiti telecom market
which is one of the most competitive markets in the region,
where VIVA was able to achieve outstanding levels of revenues
in addition to enhancing the operational efficiency to ensure service and improving the operational efficiency. By achieving
generating value and positive return to our shareholders. VIVA this outstanding level of revenues and profitability during the
has accomplished these results due to the implementation of the nine-month period in 2019, VIVA reflects its solid stance in the
digital transformation strategy and providing integrated solutions telecom market, accompanied with the fruitful launch of the fifth
for both consumers and enterprises, and has driven its business generation (5G) network nationwide, positioning itself to be one of
to new areas of sustainable growth, through a series of innovative the first telecommunications companies in the region to offer this
initiatives which aims to improve operational efficiency, customer service to its customers with the widest coverage in Kuwait, and
service, and offering the best services and products that cater in line with companies of its likes in the international market.” Al
to its customer’s needs, as well as invested in the advanced 5G Harbi concluded: “VIVA’s financial results reflected its capability
framework with the biggest scope over the country.” `Al Harbi to compete and preserve its function as the Second greatest
added: “Commenting on the results of the nine-months period telecom operator in the Kuwaiti market in terms of market share
ended 30 September 2019, VIVA managed to achieve revenues of revenue in the telecom sector. Due to VIVA’s safe and stable
KD 215.6 million during the nine-month period of 2019, while the financial policy, we continued to implement the cost reduction
EBITDA recorded a growth of 11.3% to reach a KD 59.5 million program adopted by the company during the previous year
during the nine-month period of 2019 compared to KD 53.4 million to reach the best results to enhance profitability by adopting a
for the same period in 2018. EBITDA margin reached 28% during balanced and effective financial policy in operating and capital
the nine-month period of 2019 compared to 25% during the nine- expenditures. Shedding the light on the financial position of the
month period of 2018. As a result, VIVA reported a net profit of KD company as of 30 September 2019, the total assets at the end of
31.6 million (earnings per share of 63 fils) during the nine-month the nine-month period of 2019 reached KD 387.8 million where
period of 2019 with a profit margin of 15%. VIVA’s customer base total shareholders’ equity reached KD 203.6 million, with a book
reached 2.01 million at the end of September 2019.” He added: value per share of 408 Kuwaiti fils. In addition, VIVA has a strong
“VIVA managed to achieve positive earnings for its shareholders financial solvency position, which is considered one of the best
as a result of the commitment to elevate the quality of customer companies across the Middle East telecoms companies.”

Viva Kuwait Launches Enterprise ‘5G Connectivity’ Service

Viva Kuwait this week launched 5G Access, and on-demand services su9ch the enterprises’ needs and requirements.
solutions for enterprises under the as CCTV and Cloud PBX. CEO Maziad bin In the 5G era, the Dedicated Access will
‘5G Connectivity’ banner, following its Naser Al-Harbi declared: ‘5G Connectivity be a typical application scenario. I believe
commercial launch of 5G smartphone will facilitate enterprise leased lines the services will promote the commercial
packages in late July. In a press release deployment and daily maintenance while and social value of 5G. In the future, we
claiming ‘nationwide’ coverage, Viva said ensuring an uninterrupted and enhanced will continue to enhance our portfolios to
its 5G Connectivity solutions include experience. It will also provide the agile enable state-of-art ICT solutions for local
Dedicated Data Access, Dedicated Internet and scalable connectivity according to enterprises.’

31 OCTOBER 2019