Zain KSA announced improving financial results for the 3rd quarter of 2014, recording a significant 21% increase in EBITDA during the first nine months of 2014, reaching SAR 825 million up from SAR 684 million for the same period of 2013. The company also succeeded in raising the EBITDA Margin to 18%, up from 14% during the same period last year.
Zain has also performed well on its mobile broadband service, with the first 9 months of this year recording a 145% increase in subscriber growth compared to subscriber growth for the same period last year.
The company saw strong growth in its data traffic, with the first nine months of this year posting an increase of 541% compared to the corresponding period the previous year. On a quarter-to-quarter comparison, the third quarter of this year recorded 673% increase in data traffic compared to the same period in 2013.
With improving performance, the Middle East operator narrowed its net losses during the third quarter by 25% which improved to SAR 316 million from SAR 421 million during the third quarter of 2013, reflecting a 19% drop in net loss during the nine months of this year compared to the same period last year.
Farhan bin Naif Alfaisal Aljarbaa, Chairman of the Board of Directors of Zain KSA
The company is steadily moving forward on improving its financial results. Tangible results from the Company’s transformation program are starting to be realized.
Hassan Kabbani, Chief Executive Officer of Zain KSA
We are starting to see the positive signs of the transformation plan which includes the network development and expansion agreements signed with our strategic partners during quarter two of this year. The Company reported a substantial increase in mobile data service due to the ever improving quality of our state-of-the-art 4G network to meet the growing demand especially from broadband services.
