Zain Group revenue rose 2 percent to $1.4 billion while EBITDA grew 18 percent to $603 million with 45 percent EBITDA margin in Q3 2019. Zain posted 10 percent increase in net income to $183 million.
Zain Group served 49.1 million customers, registering 3 percent increase, during the Sept quarter of 2019.
Zain Group’s consolidated data revenue grew 56 percent to $1.5 billion. Data revenue of Zain represents 37 percent of the Group’s revenue in the first nine months of 2019.
Zain expanded its 4G LTE networks across key markets and launched 5G services in Kuwait and Saudi Arabia.
Bader Nasser Al-Kharafi, vice chairman and CEO of Zain, said: “Revenue growth in our data monetization programs, Enterprise (B2B), cloud services, as well as smart city initiatives in key markets are areas of the business that we will continue to foster, both in individual and enterprise segments.”
Zain revenue in 9 months
Zain has 2.7 million mobile phone customers in Kuwait. Kuwait remains the Group’s most profitable operation with revenue of $818 million, EBITDA increasing 17 percent to $322 million with an EBITDA margin of 39 percent.
Net income increased 10 percent to $217 million. Zain Kuwait’s data revenue grew 8 percent — accounting for 37 percent of total revenue.
Zain Kuwait launched 5G services becoming the first mobile operator in the region to offer the technology commercially.
Zain Saudi Arabia revenue rose 12 percent to $1.64 billion and EBITDA increased 49 percent to $761 million with EBITDA margin of 46 percent. Net income for the nine months soared to USD 102 million, reflecting a significant improvement on the net loss of USD 18 million a year earlier.
Zain Saudi Arabia’s data revenue represents 44 percent of total revenue. Zain Saudi Arabia has 7.7 million mobile phone customers.
Zain Iraq’s revenue reached $792 million and EBITDA rose 8 percent to $335 million with EBITDA margin of 42 percent. Zain Iraq’s customer base rose 3 percent to 15.5 million due to the expansion of 3.9G services across the country and customer acquisition initiatives.
Zain Sudan revenue dropped 14 percent to $217 million with 49 percent increase in EBITDA to $88 million. 41 percent currency devaluation in Sudan affected the operation’s financial results.
Data revenue accounted for 16 percent of total revenue and grew 34 percent in SDG terms, while the operator’s customer base increased 8 percent to reach 15.4 million.
Zain Jordan served 3.8 million mobile phone customers. Zain Jordan’s revenue was stable at $369 million, with 14 percent rise in EBITDA to $169 million with an EBITDA margin of 46 percent. Net income increased 6 percent to $59 million. Data revenue represented 40 percent of total revenue.
Zain Bahrain revenue fell 6 percent to $121 million, while EBITDA rose 37 percent to $42 million with EBITDA margin of 34 percent.