Telecom operator Zain Group has revealed its financial results and main achievements for the second-quarter of 2024.
Zain has 47.8 million customers in eight markets across the Middle East and Africa. Zain has achieved 13 percent growth in the subscribers. Zain said 5 million customers have returned to the network, due to the network stabilization efforts being carried out in Sudan.
Zain has generated revenue of $1.6 billion (up 4 percent) in Q2 2024 with EBITDA margin of 37 percent. Zain did not reveal its specific investment. But Zain has disclosed its growth in data revenue and mobile Internet coverage.
Zain Group’s management team includes Osamah Othman Al Furaih (Chairman); Bader Nasser Al-Kharafi (Vice-Chairman and Group CEO); Ossama Matta (Chief Financial Officer): Kamil Hilali (Chief Strategy Officer); Nawaf Al-Gharabally (CEO of Zain Kuwait): Elfatih Erwa (Managing Director of Zain Sudan) and Sultan bin Abdul Aziz Al-Deghaither (CEO of Saudi Arabia).
The following information shows the performance of Zain Group in key countries in the Middle East and Africa.
Zain Kuwait has 2.7 million (up 1 percent) customers. Revenue grew 9 percent to $303 million with an EBITDA margin of 40 percent. Its nationwide 5G network captured the largest 5G customer base and revenue market share in the country.
Zain Saudi Arabia’s revenue grew 7 percent to $680 million with EBITDA margin of 31 percent. Its 5G network covers over 66 cities saw data revenue represent 40 percent of total revenue. It has 9 million customers in Saudi Arabia.
Zain Iraq’s revenue grew 13 percent to $263 million with an EBITDA margin of 44 percent. H1-2024 data revenue grew 29 percent representing 38 percent of total revenue. Zain has 19 million customers in Iraq maintaining its market leading position.
Zain Sudan’s revenue rose 41 percent to $71 million, with an EBITDA margin of 49 percent. It has 10 million customers (up 92 percent). Zain Sudan added 5.2 million customers due to the robust recovery plan and new data center in Port Sudan.
Zain Jordan’s revenue rose 4 percent to $137 million with an EBITDA margin of 41 percent. Zain has expanded 5G, FTTH and 4G services. H1-2024 data revenue grew 7 percent representing 51 percent of total revenue. Zain Jordan has 4 million customers (up 5 percent).
Zain Bahrain’s revenue for the quarter was stable at $50 million with an EBITDA margin of 32 percent. H1-2024 data revenue grew 6 percent to represent 46 percent of total revenue.
Baburajan Kizhakedath
