According to the company’s statement, total consolidated revenue was £14 billion, achieving 48% growth over the same period a year earlier, driven by increased revenue from all business units, especially wholesale business units. , which contributed 70% of total growth. And supported by infrastructure revenue growth of 86% year-over-year, as well as dollar-delivered service revenue growth.
Here are the most important indicators of the results of the first quarter of 2023: The company’s business results showed growth in its customer base across all services provided, compared to the same period of the previous year, the number of fixed line subscribers and the number of Internet customers at fixed broadband increased by 5%. and 7%, respectively, while the number of mobile subscribers increased to 12.4 million. A customer achieving a growth rate of 22% compared to the same period of the previous year. EBITDA increased by 72% compared to the same period of the previous year, registering EGP 6.1 billion, achieving a remarkable profit margin of 44%, supported by the increase in revenue from high-margin services . Operating profit in the first quarter of this year grew by 101% compared to the same period of the previous year after neutralizing the effect of certain exceptional items, due to the exceptional operational performance, which mitigated the impact of the increase in depreciation charges amounting to 31% compared to the same period of the previous year. Free cash flow was £0.6 billion. Excluding the effect of paying final payments for new frequencies, free cash flow was £2.6 billion, recording a ratio of net free cash flow to earnings before interest, tax, impairment and amortization of 43%. Capital expenditure for assets in service was £1.3 billion, or 9% of total revenue, while cash capital expenditure was £6.1 billion, with an expense ratio in capital/sales of 43%, and after excluding the effect of the payment of the last payment for new frequencies, the percentage reached 28 percent. Net debt as a percentage of EBITDA year-over-year was 1.2x compared to 1.4x in 2022, although gross debt was up 34% from the prior quarter in light of the revaluation of liabilities following the variation of the exchange rate.
Read the Latest World News Today on The Eastern Herald.
