Arab Today, arab today orascom telecom q412 net loss hits 474m
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

Orascom Telecom Q4/12 net loss hits $474m

Arab Today, arab today

Arab Today, arab today Orascom Telecom Q4/12 net loss hits $474m

Cairo - Arabstoday

Orascom Telecom Holding S.A.E. (‘OTH’, or ‘the Group’) (ORTE), a leading provider of mobile telecommunications in Africa, Asia and North America, announces its consolidated financial and operating results for the fourth quarter and full year ending December 31, 2012, demonstrating 9% subscribers growth, 11% revenue growth and 33% EBITDA growth on an organic basis year on year (YoY). 4Q12 Highlights Total subscribers reached 85 million, an increase of 9% YoY. Revenues reached USD 908 million, exhibiting an organic growth of 11% YoY. EBITDA amounted to USD 425 million, showing an organic growth of 33% YoY, driven by top line growth and operational excellence and cost saving initiatives, leading to profitable growth. The strong increase in EBITDA is also driven by the doubling in EBITDA of Bangladesh as a result of significantly lower commercial opex (SIM tax subsidy) in 4Q12, where in 4Q11 banglalink recorded high customer acquisition cost. Strong group EBITDA margin of 46.8%. EBITDA margins for the subsidiaries were as follows: Djezzy 59.0%, Mobilink 43.1%, banglalink 37.3%, and Telecel Globe 30.4%. Net income before minority interest stood at a loss of USD 469 million, mainly driven by the adverse impact of a non-cash impairment of OTH’s shareholder loan due from Globalive Investment Holding Corp. by USD 339 million, tax charges, and foreign exchange losses. Operating income for the period stood at USD 232 million, increasing 56% YoY. Net debt3 stood at USD 2,731 million, declining 10% YoY; Net Debt/EBITDA4 of 1.6x as at December 31, 2012. from:arabfinance

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