Zain Group has revealed that it achieved increase in revenue, EBITDA, EBITDA margin and net income in the first quarter of 2019.
Zain Group reported revenue of $1.33 billion (+56 percent), EBITDA of $586 million (+111 percent), EBITDA margin of 44 percent and net income of $155 million (+15 percent) during the first quarter.
Group data revenue achieved 118 percent growth, representing 37 percent of the revenue.
ZTE is in the process of implementing its digital transformation strategy called 4Sight that was started years ago. Zain has made huge investments in network upgrades, fiber optics and 5G readiness.
“These initiatives have been aimed at diversifying income sources primarily from digital-related areas and at the same time improve customer experience,” Ahmed Al Tahous, chairman of Zain Group, said.
Zain generated revenue of $271 million from Kuwait, $559 million from Saudi Arabia, $262 million from Iraq, $66 million from Sudan, $117 million from Jordan and $41 million from Bahrain.
Zain Kuwait has 2.6 million customers. Zain Kuwait’s data revenue grew 9 percent, representing 38 percent of total revenue.
Zain Saudi Arabia’s data revenue represents 44 percent of total revenue.
Zain Iraq added 1.5 million customers to reach 16 million.
Zain Sudan has 15.1 million customers, reflecting 9 percent growth. Zain Sudan’s data revenue formed 18 percent of total revenue.
Zain Jordan has a customer base of 3.7 million customers. Zain Jordan’s data revenue represents 40 percent of total revenue.
Zain Bahrain has revamped 4G network and data revenue represents 47 percent of overall revenue.