Zain has revealed its investment has touched $316 million in Capex during the first nine months of 2022, reflecting 8 percent of revenue, mainly in Fiber-to-the-Home (FTTH); spectrum fees; 4G upgrades and 5G rollouts.
Zain does not reveal additional details about its investment.
Zain Group’s revenue rose 15 percent to $1.4 billion in Q3 2022. EBITDA has increased 2 percent to $555 million, reflecting a 39 percent EBITDA margin. Net income of Zain rose 10 percent to $176 million during Q3 2022.
The significant increase in net income is mainly due to the performance of operations, particularly Kuwait, Saudi Arabia and Sudan. Furthermore, ZainTech and B2B monetization initiatives amplified investments made in 4G, 5G and FTTH expansion and upgrades, also drove revenue growth.
Digital services achieved revenue growth of 47 percent. Dizlee (API) platform, which is offering 51 live services, has reached over 175 million API transactions since launch in mid-2018.
Zain Saudi Arabia revenue grew 15 percent to $1.8 billion, while EBITDA reached $598 million, reflecting an EBITDA margin of 34 percent. Net income of Zain for the nine months grew 109 percent to $80 million, driven by the growth in B2B, 5G, and the return of international Umrah and business visitors post the Kingdom relaxing COVID restrictions.
Zain Jordan has received 10-year extension of 2G, 3G and 4G licenses and a 25-year 5G license. Zain Jordan aims to launch 5G in H2 2023.
Zain Bahrain’s revenue rose 5 percent to $134 million and EBITDA grew 2 percent to $44.3 million, reflecting an EBITDA margin of 33 percent. Zain Bahrain deployed the latest 5G Massive MIMO radio to reduce Zain’s 5G site-level power consumption by 15 percent.