Zain Iraq Performs “Exceptionally Well” in 1H-2018

By John Lee.

Zain Iraq performed “exceptionally well” in H1 2018 when compared to H1 2017 with revenues reaching USD 558 million, a 7% increase Y-o-Y and EBITDA reached USD 194 million, up 8% reflecting an EBITDA margin of 35%.

According to a statement from the company, the operation reported a net profit of USD 18 million, up 66% on the USD 11 million profit recorded for H1 2017.

The expansion of 3.9G services across the country and restoration of sites in the West and North of the country, combined with numerous customer acquisition initiatives, especially in core regions, resulted in an impressive addition of 1.9 million customers (15% increase) to reach 14.7 million.

Also contributing to the operation’s financial revival was the significant growth of data revenues, robust growth in the Enterprise (B2B) segment and the revamping of its call centers significantly improving customer service.

(Source: Zain)

(Pictured: Bader Al-Kharafi, Vice-Chairman and Group CEO)

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