Wataniya Telecom revenues rose 2.9 percent to KD378.9 million ($1.33 billion) in the first half of 2013.
The net profit decreased to KD42.4 million ($148.6 million) from KD47.4 million ($166.1 million).
The decline in profit was due to competitive Kuwaiti market and the Tunisian operation, which has been affected by a still difficult economic situation and tax claims pertaining to the previous five years.
The Middle East telecom operator (telecoms) customer base increased to 19.6million from 18.3 million, increasing 7.2 percent.
EBITDA for H1 was KD151.1 million ($529.8 million) compared to EBITDA of KD154.0m ($539.9 million) for the same period in 2012.
“Algeria maintained its growth leadership of the group and Tunisiana demonstrated its ability to perform well in a difficult environment. Market conditions in Kuwait remain challenging, but our customers will benefit from our network modernization and more 4G services in the near future,” said Sheikh Abdullah Bin Mohammed Bin Saud Al Thani, chairman of Wataniya Telecom.
Wataniya – Kuwait
Wataniya Kuwait’s revenues decreased 8.4 percent to KD104.6 million ($366.6 million). Net Profit decreased to KD13.5 million ($47.3 million) from KD29.1 million ($102.1 million). Wataniya Kuwait’s customer base rose to 1.94 million customers, up 0.1 percent.
Tunisiana – Tunisia
The Tunisiana revenues decreased to KD97.9 million ($343.2 million) from KD100.6 million ($352.7 million). Net profit declined 38.5 percent to KD17.2 million ($60.4 million). The Tunisiana customer base rose 6 percent to 7.3 million customers.
Nedjma -Algeria
Revenues increased 16.4 percent to KD148.7 million ($521.3 million). Net profit increased to KD26.7 million ($93.5 million). Nedjma’s customer base rose 9.1 percent to 9.33 million customers.
Wataniya – Palestine
Wataniya Mobile Palestine’s revenues rose 10 percent to KD12.6 million ($44.1 million). Net loss for H1 2013 was KD3.3 million ($11.5 million) compared to net loss of KD3.2 million ($11.2 million). Wataniya Mobile Palestine’s customer base rose 10.2 percent to 0.63 million.
Bravo – Kingdom of Saudi Arabia
Revenues increased marginally to KD8.8 million ($30.8 million) from KD8.7 million ($30.3 million). Net profit for H1 2013 was at KD1.1 million ($3.7 million) compared to net loss of KD4.9 million ($17.1 million) for the same period in 2012. Bravo’s customer base rose 0.8 percent to 0.17 million.
Wataniya – Maldives
Wataniya Maldives revenues rose to KD6.4 million ($22.4 million) from KD5.6 million ($19.5 million). Net loss was KD0.8 million ($2.7 million) compared to net loss of KD1.2 million ($4.2 million) for the same period in 2012. Wataniya Maldives customer base rose 36.4 percent to 0.22 million.
picture source: arabiangazette.com
editor@telecomlead.com