Zain Group posted revenue of $1.67 billion, EBITDA of $563 million (–20 percent) with EBITDA margin of 34 percent and net income of $287 million (+5 percent) in the first six months of 2018.
Zain said 40 percent currency devaluation in Sudan cost the company $94 million in revenue, $36 million in EBITDA and $9 million in net income. Excluding this currency translation impact, Zain revenues would have grown by 6 percent in H1 2018, showing a stable business.
Zain Group recorded revenue of $811 million (–6 percent), EBITDA of $282 million (–19 percent) with EBITDA margin of 35 percent and net income of $150 million (+3 percent) in in the second quarter of 2018.
Zain chairman Ahmed Al Tahous said: “The Board is working with management in implementing programs to improve operational efficiency and cost optimization, to consistently deliver strong operational results.”
Zain has generated second half revenue of $579 million (+5 percent) from Kuwait, $558 million (+7 percent) from Iraq, $168 million (–21 percent) from Sudan, $942 million (–7 percent) from Saudi Arabia, $241 million (stable) from Jordan and $87 million from Bahrain
Zain said data revenue represented 32 percent of total revenue in Kuwait, 17 percent in Sudan, 53 percent in Saudi Arabia, 38 percent in Jordan and 45 percent in Bahrain.
