Zain Group, a leading mobile telecom innovator in eight markets across the Middle East and Africa, this week announced its consolidated financial results for the full-year 2019, and fourth quarter ended 31 December, 2019.
A key highlight of Zain Group's results for 2019 is that its consolidated data revenue grew 36% Y-o-Y to reach USD 2 billion, representing 36% of the Group’s revenue for 2019. Zain served 49.5 million customers in 2019, reflecting a 1% increase year-on-year (Y-o-Y).
For the full-year 2019, Zain Group generated consolidated revenue of KD 1.66 billion (USD 5.5 billion), an impressive 26% Y-o-Y growth, while consolidated EBITDA for the period rose by 40% Y-o-Y to reach KD 728 million (USD 2.4 billion), reflecting a healthy EBITDA margin of 44%. Consolidated net income reached KD 217 million (USD 715 million), up 10% and reflecting Earnings Per Share of 50 Fils (USD 0.17).
Throughout 2019, Zain Group said it invested over USD 1 billion in CAPEX, predominantly in expansion of Fiber-to-the-Home (FTTH) infrastructure; spectrum fees; 4G upgrades and new network sites across its markets, as well as 5G rollouts in Kuwait and Saudi Arabia inclusive of 5G roaming
Ahmed Al Tahous, Chairman of Board of Directors, Zain Group
The company’s performance for 2019 is testament to the successful implementation of the strategic and sustainability-conscious roadmap set by the Board and management.
Bader Al-Kharafi, Vice Chairman and Group CEO, Zain
Our Group financial performance across all operations, especially the robust profit growth in Saudi Arabia, Iraq and Sudan operations, and sound performance by our highly profitable Kuwait operation, tops off an incredible operational year and gives us enormous confidence going into 2020 and beyond.
