Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Telecom Egypt reported strong Q1 2025 results, with a 42% YoY revenue increase, driven by Retail segment growth. EBITDA rose by 49%, and normalized net profit increased 39%. The company demonstrated enhanced operational efficiency, improved cash flow, and continued momentum in customer base expansion, aligning with its growth strategy.
Mobily reported a 20.21% YoY increase in net profit for Q1-2025, reaching SAR 767 million. Revenues grew by 5.10% to SAR 4.77 billion, and earnings per share rose to SAR 1. Despite a quarterly decline, Mobily’s annual profit growth was notable, with a 39.20% increase for 2024.
Data monetization offers organizations a way to transform their data into economic value through direct or indirect strategies. As the global market grows, Saudi Arabia and other regions are investing in data technologies to optimize business processes, overcome challenges like data quality, and create new revenue streams.
Zain Group has reported record revenue of KD2 billion ($6.4 billion) for FY2024, marking a 3% YoY growth. The company’s net income increased by 15%, and its EBITDA reached KD689 million ($2.25 billion). Zain also recommended a cash dividend of 35 fils per share for the year.
Emirates Telecommunications Group reported a 10% increase in revenue for FY 2024, surpassing analyst expectations. The company’s net income rose by 4.3%, while its profit margin decreased to 18%. Despite higher expenses, the company forecasts 8.1% revenue growth over the next three years.
Arabian Internet and Communications Services Company (solutions) reported SAR 1.27 billion in revenues for the first nine months of 2024, a 23.30% increase year-on-year. Q3 net profits surged 19.63% to SAR 463 million, although revenues slightly declined to SAR 2.75 billion compared to the previous year.
The PTCL Group, Pakistan’s largest telecom conglomerate, is facing significant financial challenges despite reporting a 15.3% increase in revenue to Rs160.6 billion for the first nine months of 2024. The company posted a net loss of Rs15.3 billion, highlighting ongoing operational struggles.