EGP 44.3 billion.. Telecom Egypt's revenues in 2022

Telecom Egypt announced its business results for the fiscal period ending on December 31, 2022.

The most important indicators of business results in 2022

 The most important indicators of business results for the year 2022 included the following:

Total consolidated revenues amounted to 44.3 billion pounds, achieving a growth of 19% compared to the previous year.

Growth in the customer base of «Telecom Egypt»

 The company showed a growth in its customer base at the level of all services provided compared to last year, as the number of fixed-line subscribers increased by 5%, and the number of fixed high-speed internet customers by 9%.  1.5 million new subscribers.

The profit before interest, taxes, depreciation and amortization grew by 23% compared to the previous year, recording an amount of 17 billion pounds, achieving a distinguished profit margin of 39%, in line with the expectations and directives of the management.

Net profit after taxes

Net profit after taxes amounted to 9.2 billion pounds, a growth rate of 9% compared to the previous year, supported by outstanding operational performance, and by neutralizing the impact of some exceptional items such as currency differences and the aforementioned provisions, and the decrease in investment revenues from Vodafone Egypt, which is mainly due to the devaluation of the currency, the net profit reaches  After taxes, it amounted to 10.1 billion pounds, achieving a growth of 31% compared to the previous year, achieving a margin of 23%.

Capital expenditures

Capital expenditures for in-service assets amounted to 12.6 billion Egyptian pounds, or 28% compared to the previous year of total revenues, while cash capital expenditures amounted to 19 billion Egyptian pounds.

 After excluding the value of new frequencies and license expenses, cash capital expenditures amounted to 13.7 billion Egyptian pounds.