Zain Group reported that its Capex touched over $665 million, accounting for 18 percent of revenue, in the first nine months.
The main focus of Zain was in Fiber-to-the-Home (FTTH); spectrum fees; 4G upgrades and 5G rollouts during the first nine months of 2021.
Zain said data revenue reached $1.58 billion representing 42 percent of the Group’s consolidated revenue in January-September 2021.
Zain Kuwait witnessed impressive growth in 5G consumer and B2B customers. Zain Saudi Arabia expanded its 5G network to over 51 cities covering all regions in the Kingdom.
Zain does not reveal its subscriber base in 5G business.
Zain Group generated revenue of $3.8 billion (–3 percent) and EBITDA of $1.6 billion (–3 percent) with EBITDA margin of 42 percent. Efficiency and optimization initiatives resulted in consolidated net income increasing 5 percent to $450 million.
Net income increased on account of successful cost optimization initiatives and loan restructuring across operations and the Group, which resulted in significant savings in financing costs.
