Zain Iraq Profits Up 28%

By John Lee.

Mobile telecommunications company Zain has reported that its Iraqi revenue was stable at USD 1.1 billion last year, despite a competitive landscape and economic and political issues in Zain stronghold regions.

Announcing its results for 2019, the company said:

"[Zain Iraq] EBITDA grew strongly by 10% Y-o-Y amounting to USD 465 million (43% EBITDA margin) based on the operational transformation program.

"Accordingly, the operation reported a net profit of USD 63 million for 2019, up 28% Y-o-Y. Zain Iraq’s focus on customer experience, services expansion across the country and cost transformation combined with growth of data and digital revenue were key drivers of this exceptional performance.

"Retention and customer loyalty initiatives also resulted in the company serving 15.7 million customers."

(Source: Zain)

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