Telecom Egypt reduces Capex in Q3 2012 to EGP 90 million from EGP 146 million

Telecom Lead Middle East: Telecom Egypt has reduced its Capex (Capital expenditure) in Q3 2012 to EGP 90 million from EGP 146 million in Q3 2011.

The reduction in Capex during the quarter is due to the revision of contractual agreements, leading to effectual negotiations with all suppliers on terms and conditions with competitive rates.

READ the complete financial result of Telecom Egypt here.

Telecom Egypt’s revenue grew 6 percent to EGP 2,477 million.

Net profit increased 3 percent to EGP 633 million.

Vodafone Egypt’s contribution to profit increased 3.4 percent to EGP 232 million.

As on 30 September 2012, the telecom operator has 7.5 million fixed line subscribers.

Telecom Egypt said retail ADSL subscribers increased 20 percent, delivering 10 percent increase in internet and data revenues.

Telecom Egypt CEO Mohamed Elnawawy

Telecom Egypt CEO Mohamed Elnawawy said: “TE Data continues to make significant progress. Having grown by 9.9 percent compared to the same period in 2011, broadband revenues now represent over a quarter of our total retail revenues. Net ADSL subscriber additions in the third quarter 2012 were 60.8 percent higher than those achieved in the third quarter 2011.”

Telecom Egypt’s wholesale business grew nearly 5.7 percent to EGP 1,253 million.

Its domestic wholesale business recorded revenues of EGP 328 million, up nearly 11.7 percent.

Its international capacity business contributed nearly EGP 140 million of recurring, stable operational revenues.

Retail revenues reached EGP 1,224 million for Q3 2012, up 5.4 percent.

Comprising connections and subscriptions, access revenues were down by 7.9 percent to reach EGP 344 million.

Its total voice revenues for Q3 2012 were EGP 365 million, down 2.8 percent and 12.4 percent  when  compared to Q2 2012 and Q3 2011.

“Our investment in Vodafone Egypt (VFE) continues to outperform, reporting voice minutes of 44.8 billion for the six month period to 30 September 2012, a 19.7 percent increase on the same period last year.  Total revenues were up by 4.0 percent reaching EGP 3,210 million compared with the previous quarter,” Elnawawy added.

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