Zain Group invested $74 million in Capex reflecting 5.5 percent of total revenue, mainly in expansion of Fiber-to-the-Home (FTTH) infrastructure; spectrum fees; 4G upgrades and new network sites across its markets, as well as ongoing 5G rollouts in Kuwait, Saudi Arabia and Bahrain.
Zain said Kuwait, Saudi Arabia and Bahrain achieved impressive growth in 5G customers. Zain did not reveal the number of 5G mobile subscribers.
Zain Group consolidated data revenue reached $536 million, representing 40 percent of the revenue.
Zain strengthened focus on government and enterprises accounts resulting in 19 percent revenue growth in B2B business.
Zain KSA approved sale of its 8,069-tower infrastructure for $807 million to the Kingdom’s Public Investment Fund.
Zain’s pure digital operator Yaqoot in Saudi Arabia and oodi in Iraq witness robust growth
Zain Group increased its active customer base by 2.3 million to 50.9 million in seven markets across the Middle East and Africa.
Zain Group generated consolidated revenue of KD 408 million (USD 1.3 billion) for the Q1 2022, up 7 percent year-on-year. EBITDA for the quarter reached KD 154 million (USD 507 million), down 3 percent, reflecting an EBITDA margin of 38 percent. Net income for the quarter reached KD 47 million (USD 156 million), up 6 percent.
Zain Group Chairman Ahmed Al Tahous said: “Our future-ready approach to invest heavily in 5G technology and 4G network expansion across all markets in recent years is paying off, evident by the 2.3 million additional customers and resulting revenue growth.”
Zain Saudi Arabia’s 5G network covers 51 cities. The operator’s data revenue represents 44 percent of total revenue and active customers increased 17 percent to 8.4 million.
