Zain Group records revenues of $3.9 billion (– 2 percent) and net profit of $429 million (–14 percent) for nine-month period of 2020.
The company ended the September quarter with a mobile customer base of 48.9 million customers. Zain does not reveal the specific number of 4G and 5G customers.
In Q3 2020, Zain Group generated revenue of $1.3 billion (–1 percent). EBITDA reached $542 million (–9 percent) with 41 percent EBITDA margin. Net income fell 14 percent to $157 million.
Zain Group data revenue grew 9 percent to $1.61 billion, representing 41 percent of the Group’s revenue for 9M 2020.
Zain expanded 4G networks across markets, including 5G networks in Kuwait and Saudi Arabia and launch of 5G commercial services in Bahrain.
Zain invested $923 million over the last nine-months in Capex including spectrum fees, expanding 5G networks in Kuwait, Saudi Arabia and most recently Bahrain as well as upgrading and expanding our 4G networks and FTTH services across our footprint.
“Investments allow us to wisely monetize the networks and offer more innovative customer focused and B2B services to government, business, IoT, and smart city sectors,” Zen Group CEO said.
Zain Kuwait serves 2.6 million customers. It remains the Group’s most profitable operation with revenue for 9M 2020 reaching $770 million.
Zain Saudi Arabia generated revenue of $1.6 billion. EBITDA for the period reached SAR 2.6 billion (USD 695 million), reflecting an EBITDA margin of 45 percent. Net income for the nine months reached $60 million. Data revenue represents 51 percent of total revenue and customers served stood at 7.0 million.
Zain Iraq’s 9M 2020 revenue reached $708 million and EBITDA amounted to $285 million, reflecting EBITDA margin of 40 percent. The operator served 15.7 million customers maintaining its market leading position.
Zain Sudan generated revenue of $278 million, with EBITDA amounting to $121 million, reflecting an EBITDA margin of 44 percent.
Data revenue represented 25 percent of total revenue, while the operator’s customer base reached 16.0 million, maintaining its market leadership.
Zain Jordan revenue reached $359 million, EBITDA $160 million, reflecting an EBITDA margin of 44 percent, with net income reaching $56 million.
Zain Jordan served 3.5 million customers. Zain’s data revenue represented 46 percent of total revenue.
Zain Bahrain generated revenue of $123 million with an EBITDA of $42 million, reflecting an EBITDA margin of 34 percent.