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    ETEL   EGS48031C016

TELECOM EGYPT COMPANY S.A.E.

(ETEL)
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Telecom Egypt E : and Etisalat Misr sign transmission and mobile-to-fixed interconnection agreements

06/01/2020 | 03:06am EDT

In light of their ongoing strategic partnership, Telecom Egypt and Etisalat Misr signed two first of its kind agreements relating to transmission and mobile-to-fixed interconnection. The first agreement entails a development of Telecom Egypt's transmission and infrastructure services' commercial model with Etisalat Misr, where Etisalat Misr for the first time signs a long-term agreement including an annual commitment for Telecom Egypt's infrastructure and transmission services. The agreement will enable Etisalat Misr to continue delivering premium offers and mobile telecommunications services to its customers in the Egyptian market and extends for three and a half years with a total value of EGP 2bn. Additionally, the two companies have signed a mobile-to-fixed termination agreement representing the first commercial arrangement on mobile-to-fixed between Telecom Egypt and Etisalat Misr and the second for Telecom Egypt in the Egyptian market.
Adel Hamed, Managing Director and Chief Executive Officer, commented:
'We are very happy to have signed these agreements. The transmission agreement is evidence that Telecom Egypt's long-term commercial model is indeed valued by all mobile operators in the market. The agreement also allows us to further monetize our infrastructure investments that serve all local telecommunications companies and enrich the Egyptian market by diversifying and improving the quality of services provided. Telecom Egypt has heavily invested in its infrastructure to accommodate the significant and ongoing increase in data usage in Egypt. Such investments have especially borne fruit during these times that the world in its entirety is living.'
Hazem Metwally, Chief Executive Officer of Etisalat Misr, said:
'We are pleased with the development of our strategic partnership with Telecom Egypt, a company that we consider to be our success partner in the Egyptian market. We always strive through such agreements to provide the latest and highest quality integrated services to our customers using the most advanced technological solutions prevalent in global markets. The development of events across the world makes telecommunications companies eager to cope with the required changes and during the next stage, agreements like the ones we have signed today will be reflected in the products and services that we will offer our customers for the first time in the Egyptian market.'

Disclaimer

Telecom Egypt Company SAE published this content on 01 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2020 07:05:04 UTC


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Financials
Sales 2021 33 693 M 2 160 M 2 160 M
Net income 2021 5 526 M 354 M 354 M
Net Debt 2021 28 350 M 1 817 M 1 817 M
P/E ratio 2021 4,19x
Yield 2021 6,07%
Capitalization 21 782 M 1 394 M 1 396 M
EV / Sales 2021 1,49x
EV / Sales 2022 1,28x
Nbr of Employees -
Free-Float 20,0%
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Technical analysis trends TELECOM EGYPT COMPANY S.A.E.
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TrendsBullishBullishNeutral
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 9
Average target price 17,61 EGP
Last Close Price 12,76 EGP
Spread / Highest target 76,3%
Spread / Average Target 38,0%
Spread / Lowest Target 3,45%
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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
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