Zain Bahrain reported a 2.6% increase in Q2 2024 net profit to BD 1.35 million and a 7.6% rise in H1 2024 EBITDA to BD 11.79 million. Revenue for H1 2024 grew by 3.5% to BD 38.44 million. The company highlighted significant achievements in 5G innovation, sustainability, partnerships, and awards for excellence.
Ooredoo reported a 14% increase in normalised net profit to QR1.9 billion for H1 2024. Revenue grew by 3% to QR11.8 billion, and EBITDA rose by 6% to QR5.1 billion. The company completed the sale of Ooredoo Myanmar and launched several strategic initiatives, including the “walletii” mobile money app and MENA Digital hub.
Leading UAE telecom company e& reported a 6% increase in H1 2024 revenue, reaching AED28.3 billion ($7.7 billion), and a 17% rise in net profit to AED5.5 billion ($1.5 billion). The strong performance was driven by innovation and digital transformation, with the subscriber base growing to 175 million.
Robi Axiata achieved a 341% year-on-year profit growth in Q2 2023, reaching Tk 1.07 billion, driven by revenue growth and cost efficiency. Despite economic and regulatory challenges, the telecom operator reduced its cost of revenue, expanded its subscriber base, and heavily invested in network improvements, while preparing for future market impacts.
Al Yah Satellite Communications Company (Yahsat) reported a 62% increase in H1 net income to AED269 million, despite a 3% revenue drop. EBITDA surged 25%, driven by growth in key segments. Yahsat’s strong cash position and future contracts secure long-term financial stability amid strategic pivots and upcoming satellite launches.
Zain KSA announced impressive H1 results with a 60% increase in net profit to SAR172 million ($45.8 million) and revenue of SAR5 billion ($1.3 billion). The growth was driven by enhanced customer experience, expanded 5G coverage, and increased demand during the Hajj season, alongside strong sustainability practices.
Telecom Egypt (ETEL) reported a 48.26% year-on-year increase in net profit for the first nine months of 2023, reaching EGP 9.148 billion. This growth is reflected in both its consolidated and standalone financial statements, with significant rises in operating revenues and net profits, underscoring the company’s strong position in the telecommunications sector.
Banglalink, Bangladesh’s third-largest mobile operator, is postponing its IPO launch due to current market conditions, including political uncertainties and underperformance of telecom stocks. The company, optimistic about a 2024 IPO, has also explored partnerships with digital banks and recently initiated a national roaming field trial with Teletalk. Challenges include non-implementation of SMP restrictions and unfeasible regulations for SIM-locked handsets.
