MobiNil announces 4Q and full year results; revenue, net profit and EBITDA all rise (Egypt)
The Egyptian Company for Mobile Services (MobiNil), Egypt’s largest mobile operator by subscribers, has announced financial results for both the three- and twelve-month periods ending 31 December 2008. MobiNil reported that, for the fourth quarter net profit rose 25% year-on year to EGP551 million (USD100.4 million), whilst revenue increased 24% over the three months to EGP2.64 billion. Earnings before interest, tax, depreciation and amortisation meanwhile surged up 57% y-o-y to EGP1.34 billion in the fourth quarter. Average revenue per user (ARPU) for the fourth quarter declined 8% however, to EGP44 per month, which the operator attributed to its increased penetration of lower revenue market segments. Similar upward trends were also reported for the twelve-month results, with net profit, revenue and EBTIDA rising 8%, 21% and 27% respectively. Global blended ARPU over the year was EGP46, a 15% decline against the 2007 figure.