Telecom Egypt’s consolidated revenue has increased by 35% year-on-year (YoY) in the first half (H1) of 2024, recording EGP 38 billion, according to the Managing Director and Chief Executive Officer of Telecom Egypt Mohamed Nasr.
This growth could be attributed to an increase in the retail segment revenue by 40% percent YoY, driven by a 46% increase in data revenue and expansion across all retail segments, Nasr said in a statement.
“Telecom Egypt’s performance in the first half of 2024 exemplifies our resilience in navigating complex macroeconomic challenges, including currency devaluation and inflationary pressures, while
sustaining robust growth,” added Nasr. According to Nasr, Telecom Egypt’s most important
statistics for H1 2024 are as follows: -The data services revenue contributed 48% to the overall increase in top-line growth, which is the company’s revenue.
-Revenue from international direct dialing (IDD) increased by 51 %, while capacity sales revenue grew by 103%
-The company also saw an increase in its customer base across all areas.
-The Fixed Voice and Fixed Broadband subscribers grew by eight percent YoY, while mobile phone subscribers rose by four percent YoY.
-Telecom Egypt’s earnings before interest, tax es, depreciation, and amortization (EBITDA) for H1 2024 reached EGP 15.5 billion, a 29 percent YoY increase, representing 41% of the company’s revenue.
-The enhanced revenue mix and cost optimization efforts maintained the EBITDA margin at targeted levels despite the prevailing inflationary pressures.
According to Nasr, this emphasizes the company’s skilful cost management, successful monetization of
infrastructure, strategic pricing adjustments, and the ability to capitalize on the expanding data market locally and internationally. These have been the key factors driving the company’s revenue growth