Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Egypt
  4. Egyptian Exchange
  5. Telecom Egypt Company S.A.E.
  6. News
  7. Summary
    ETEL   EGS48031C016

TELECOM EGYPT COMPANY S.A.E.

(ETEL)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Q2 2019 Results:Revenue growth continues coupled with implementation of successful cost initiatives

08/07/2019 | 06:40pm EDT

Telecom Egypt today announces its Q2 2019 results ending 30 June 2019.

H1 2019 key highlights

• Consolidated revenue totalled EGP 12.7bn, increasing 25% YoY on the back of higher data services and increased cable projects revenue mainly owed to the recognition of the USD 20mn PEACE cable crossing.

• Customer base demonstrated improved trends across all segments with fixed voice customers growing 11% YoY, fixed broadband increasing by 19% YoY and mobile reporting a 29% growth.

• The company recorded a total cost of EGP 1bn for the Early Retirement Program (ERP) with c2000 employees signing up, which will be paid to the employees in Q3. Such cost led to the decline of EBITDA to reach EGP2.6bn and net profit stabilized at EGP 2.1bn.

• Excluding the ERP, EBITDA would reach EGP 3.6bn, growing 11% YoY recording a margin of 29% and net profit would land at EGP 2.9bn.

• Normalized net profit increased 41% YoY as a result of forex gains, EBITDA growth and the rebound in Vodafone's investment income.

• In-service CapEx intensity reached 29% as a result of the company's plan to accelerate infrastructure and network development to complete the copper-to-fibre replacement program in 2 years rather than 4, ending by 2020.

• Net debt amounted to 10.2bn, representing 1.6x of annualized EBITDA compared to 2.1x in FY 2018.

Adel Hamed, Group Chief Executive, commented:

'This quarter, our operational and financial performance demonstrated our ability to successfully execute our strategy and maximize our return on investment by enhancing the quality of our services, which was clearly reflected in the notable growth of our data revenue. The recognition of PEACE cable revenue that was introduced last April also contributed to the 24% YoY top line growth.

We are very pleased with the launch of WE SPACE internet offerings that represent a shift in the Egyptian broadband market through the introduction of high speed bundles with speeds that start from up to 30 Mbps instead of 5Mbps, allowing us to better monetize our network investments. Additionally, the company has completed the groundwork for the preparation for the nationwide launch of IPTV services and the WE Wallet to fulfil our strategy of leading the market as a total ICT provider.

In parallel to our strong revenue growth, we successfully implemented cost cutting initiatives including the restructuring of our debt, which lowered this quarter's interest costs, and the activation of the early retirement program that will further reduce our expenses on the short-run.'

Disclaimer

Telecom Egypt Company SAE published this content on 08 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2019 22:39:01 UTC


ę Publicnow 2019
All news about TELECOM EGYPT COMPANY S.A.E.
06/07TELECOM EGYPT Eá : and Vodafone Group sign a modified shareholders' agreement
PU
05/10Q1 2021 RESULTS : Continued top line growth filters through to strong net profit
PU
05/10Q1 2021 RESULTS : Continue top line growth filters through to strong net profit
PU
04/26TELECOM EGYPT COMPANY S.A.E. : Ex-dividend day for final dividend
FA
03/22TELECOM EGYPT Eá : raises its proposed dividend for FY 2020 in light of Vodafone..
PU
03/03TELECOM EGYPT Eá : to Launch New African Subsea System
MT
01/28TELECOM EGYPT Eá : wins the award for the fastest fixed network in North Africa ..
PU
01/19Egypt's buoyant state enterprises leave private sector in the shade
RE
01/13TELECOM EGYPT Eá : and the Ministry of Social Solidarity sign an agreement to su..
PU
01/04TELECOM EGYPT Eá : To Provide Google With Three Meshed Offerings For Crossing Ne..
MT
More news
Financials
Sales 2021 33 693 M 2 153 M 2 153 M
Net income 2021 5 526 M 353 M 353 M
Net Debt 2021 28 350 M 1 812 M 1 812 M
P/E ratio 2021 4,34x
Yield 2021 5,87%
Capitalization 22 533 M 1 439 M 1 440 M
EV / Sales 2021 1,51x
EV / Sales 2022 1,43x
Nbr of Employees -
Free-Float 20,0%
Chart TELECOM EGYPT COMPANY S.A.E.
Duration : Period :
Telecom Egypt Company S.A.E. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TELECOM EGYPT COMPANY S.A.E.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 8
Last Close Price 13,20 EGP
Average target price 17,62 EGP
Spread / Average Target 33,4%
EPS Revisions
Managers and Directors
NameTitle
Adel Hamed Ibrahim Gadalla Chief Executive Officer, Director & MD
Mohamed Hassan Shamroukh Gomaa Chief Financial Officer, Director & Senior VP
Maged Ibrahim Osman Chairman
Antar Kandil Chief Information Officer & Vice President
Mohamed Al-Fowey Chief Technology Officer & Vice President
Sector and Competitors
1st jan.Capitalization (M$)
TELECOM EGYPT COMPANY S.A.E.10.65%1 439
VERIZON COMMUNICATIONS-4.05%232 134
CHARTER COMMUNICATIONS, INC.6.87%131 932
CHINA MOBILE LIMITED9.73%127 891
DEUTSCHE TELEKOM AG18.62%100 512
NIPPON TELEGRAPH AND TELEPHONE CORPORATION8.43%93 729