[Press Release] Mobilink, the country’s market leader in cellular communications and part of the Orascom Telecom Holding (OTH) registered stable revenues in terms of local currency for the first three quarters of 2009 with EBITDA reaching Rs 22.77 billion, an increase of 5.1% over the corresponding period last year.
Mobilink, which earned Rs 64.1 billion for the nine months of 2009, has managed to keep revenues stable in local currency terms despite rising inflation and an overall stressful economic environment. Moreover, the Average Revenue per User was also up by approximately 9% for Q3 2009 as compared to Q3, 2008.
According to the third quarter 2009 consolidated results issued by parent company Orascom Telecom Holding, Mobilink also saw an investment of US$ 128 for the first three quarters of 2009.
Significantly, Mobilink has added over 0.9 million subscribers in Q3 2009 making the total number of subscribers 30,046,050 to date. According to statistics available on PTA website, this is the highest number of net additions for the period and constitutes more than 50% of the industry incremental as compared to June 2009.
Commenting on OTH financial results, Naguib Sawiris, Chairman OTH, said the performance of Orascom Telecom in the first nine months of 2009 has seen an improving trend over the course of the year as local currencies in most of our key operations have stabilised against the US$ adding; The situation in Pakistan, while improving, is still complicated mainly as a result of political, economical and security related issues. In local currency terms the performance of Mobilink is however encouraging as we have seen revenues stabilise and EBITDA grow year on year, reverting the negative trend witnessed up to Q2.
Rashid Khan, President and CEO, Mobilink shared; As a company on the forefront of innovation, we are pleased that Mobilink continues to provide the Pakistani consumers with the best coverage, quality and rates. This is one of the key reasons why we are largest cellular family of Pakistan and still growing.
According to the statement, OTH net income has reached US$ 365 million1 (LE 2,108 million), growing 6% over the previous year. Q3 2009 Net income increased 62% over previous quarter. Orascom’s total subscribers approach 89 million, an increase of 12.1% over September 2008.
