The Egyptian Company for Mobile Services “MobiNil” reported that active subscribers have increased to reach 1.466 million, an increase of almost 250,000 from year-end 2000, according to a press realease.
MobiNil announced 1st quarter 2001 revenues of LE591.7 milion ($152.2m), a growth of 19 percent compared to 1 st quarter 2000. The company’s EBITDA for the quarter was 46.2 percent representing LE273.6 million, an improvement of 2.5 points from an EBITDA of 43.7 percent for the full year 2000. The consolidated net income for the quarter was 90.5 million LE reflecting an increase of 160 percent from the 1 st quarter 2000.
“During the first quarter of 2001, we have witnessed the confirmation of our adopted growth strategy. This quarter has been one of the best quarters in terms of new subscribers in the history of the company. We focused on maintaining our market share leadership, sustaining our profitability, while improving our operational efficiency and increasing the capacity of our network to address future growth.” said Osman Sultan, President & CEO of ECMS.
“We continue to clearly lead the market with strong subscriber growth and sustained revenue growth. We expect to sustain profitability growth with increasing economies of scale, aggressive cost management, and lower costs to serve the expanding subscriber base. During the quarter, we introduced the best of new offerings and new technologies such as GPRS, which will be commercially available later this year, and IS-SMS. Under the umbrella brand of MobiNil - ALO, Moga, and MobiNil Business, we address each segment providing the best value for money. Finally, we added a new switch and continued the aggressive rollout of our network infrastructure and customer service.” – Albawaba.com
