Zain has reported revenue of $4.71 billion (up 2 percent) for the first nine months of 2024. EBITDA reached $1.65 billion, reflecting an EBITDA margin of 35 percent.
Zain has posted revenue of $1.64 billion (up 4 percent) in Q3 2024. EBITDA for the third-quarter reached $589 million, reflecting a 36 percent EBITDA margin.
Zain’s 9M 2024 data revenue grew 1 percent to $1.8 billion representing 38 percent of total revenue.
Zain invested $340 million in Capex, mainly FTTH expansion; spectrum acquisitions; and 4G and 5G upgrades.
Zain’s fintech services revenue grew 13 percent for 9M 2024 powered by Taman and Zain Cash.
Digital services including Dizlee API platform achieved customer growth, driven by the addition of new gaming and streaming services.
Digital operators Yaqoot in KSA and oodi in Iraq record 9-month revenue growth of 21 percent and 120 percent, respectively.
“Five years ago we implemented our ‘4Sight’ profitability-focused growth strategy that has resulted in the implementation of significant digital transformation, cost optimization, and data monetization initiatives across all facets of the company’s business,” Bader Al-Kharafi, Zain Vice-Chairman and Group CEO, said.
4Sight entailed the rollout of business verticals, allowing Zain to capitalize on new and lucrative market opportunities in ICT, Fintech, Venture Capital, Digital Services, Esports, Towers and Wholesale business areas.
Zain Kuwait has a customer base of 2.6 million. The Group’s most profitable operation saw revenue for the third-quarter (Q3 2024) grow 4 percent to $308 million. Zain Kuwait invests in 5G upgrades and rollout out digital services enhancing its position as the operator of choice for consumers, enterprises and governments.
Zain Saudi Arabia’s revenue for Q3 2024 grew 2 percent to $689 million. Zain SA’s 5G network now covers 66 percent of the country. Zain Saudi Arabia’s data revenue rose 4 percent, accounting for 40 percent of total revenue in 9M-2024. Zain Saudi Arabia’s customer base rose by 1 percent to reach 9 million customers.
Zain Iraq’s revenue for Q3 2024 rose 10 percent to $285 million. 9M-2024 data revenue grew 27 percent representing 38 percent of total revenue. Zain Iraq’s customer base increased 8 percent to 19.5 million customers.
Zain Sudan’s revenue for Q3 2024 fell 18 percent to $58 million. Customer base for Zain Sudan reached 8.7 million.
Zain Jordan’s Q3 2024 revenue grew 6 percent to $142 million. The expansion of 5G, FTTH and 4G services led to data revenue growth of 7 percent for the 9M-2024, which now represents 51 percent of total revenue. Zain Jordan has 4.3 million customers (up 7 percent).
Zain Bahrain’s revenue for Q3 2024 grew 13 percent to $50 million. 9M-2024 data revenue grew 6 percent to represent 46 percent of total revenue.
Baburajan Kizhakedath
