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MarketScreener Homepage  >  Equities  >  CAIRO AND ALEXANDRIA STOCK EXCHANGE  >  Telecom Egypt Company    ETEL   EGS48031C016

TELECOM EGYPT COMPANY

(ETEL)
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Telecom Egypt : records 27% increase in revenues in first quarter

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05/16/2019 | 07:39am EDT

Telecom Egypt (TE) has revealed a 27% year-on-year increase in consolidated revenues for the first quarter of 2019, with the operator’s CEO Adel Hamed stating that in the period under review it had demonstrated ‘strong results and a robust preface to [the telco’s] strategic objectives for 2019’. For the three months ended 31 March 2019 TE recorded consolidated revenues of EGP6.087 billion (USD357 million), up from EGP4.782 billion in the corresponding period a year earlier. Turnover from the company’s ‘Home & Consumer’ services accounted for the largest portion of the total – EGP2.401 billion, up from EGP1.829 billion in 1Q18 – while the largest growth in percentage terms was recorded in the ‘Domestic Wholesale’ sector, where revenues were up 49% y-o-y at EGP1.309 billion.

The telco’s EBITDA for the opening quarter of 2019 totalled EGP1.903 billion, up from EGP1.506 billion in 1Q18, while net profit was EGP1.615 billion, up from EPG774 million, with the operator saying the increase in the latter was attributable to the revaluation of USD facilities following the appreciation of the Egyptian pound against the US dollar, healthy EBITDA growth and ‘the rebounding of Vodafone’s investment income to its normal levels compared to Q1 2018’.

In operational terms, TE reported a 10% annualised increase in its mobile subscriber base, which reached 4.247 million at 31 March 2019, up from 2.930 million a year earlier, while both fixed broadband and fixed voice accesses also rose, to 5.535 million (Mar-18: 4.366 million) and 8.093 million (7.265 million), respectively.

(c) 2002-2019 PriMetrica, Inc. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (EGP)
Sales 2019 24 563 M
EBIT 2019 3 932 M
Net income 2019 4 048 M
Debt 2019 9 536 M
Yield 2019 3,23%
P/E ratio 2019 8,06x
P/E ratio 2020 5,50x
EV / Sales2019 1,37x
EV / Sales2020 1,22x
Capitalization 24 070 M
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Average target price 16,91  EGP
Last Close Price 14,10  EGP
Spread / Highest target 35,5%
Spread / Average Target 19,9%
Spread / Lowest Target 4,96%
EPS Revisions
Managers
NameTitle
Ahmed Mohamed Hamdy El-Behery Chief Executive Officer, Director & MD
Maged Ibrahim Osman Chairman
Mohamed Hassan Shamroukh Gomaa Chief Financial Officer, Director & Senior VP
Antar Kandil Chief Information Officer & Vice President
Yasser Rashwan Chief Technology Officer
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