2010, A Year of Robust Growth for Mobilink
Islamabad – April 19, 2011: Mobilink, Pakistan’s market leader in cellular services and part of Orascom Telecom Holding (OTH) has posted growth in revenues, EBITDA as well as subscriber base for the year 2010 as compared to 2009.
According to the Full Year Earnings Release issued by OTH, for the year ending December 2010, Mobilink has registered 8.7% growth in revenues at PKR 94.3 billion in 2010 as compared to PKR 86.8 billion in 2009.
The company’s EBITDA also showed improvement with 17.8% YoY growth in local currency terms from PKR 31.7 billion in 2009 to PKR 37.3 billion in 2010. EBITDA margin improved from 36.5% in 2009 to 39.6% in 2010.
On the customer front, Mobilink continues to be the country’s favorite cellular network with a subscriber base that grew 3.2% in the year from 30.8 million customers in December 2009 to 31.8 million as of December 2010.
Khaled Bichara, Group CEO, OTH shared “The year 2010 has proven to be a year of significant milestones aiding the growth of Orascom Telecom Holding, on an operational and strategic level.”
“OTH will join the ranks of truly global players in the field of telecommunications supported by expertise and a strong leverage profile while benefiting from significant synergies resulting from the WIND-VimpelCom transaction,” Bichara added.
Rashid Khan, President and CEO, Mobilink said, “2010 has been a tough year for Pakistan. At Mobilink, our customers remained our focus. It is really their continued trust and love that has translated into positive results for us year on year. Whether it was through launching innovative products and bundles or segmented propositions, offering unmatched reward programs, investing in our network for even better quality providing the best customer care or reaching out to the community through our flood relief efforts, Mobilink maintained an aggressive position that reaffirms our core philosophy of reshaping lives.”
With a fund of Rs 236 million, Mobilink is leading one of the largest initiatives from the private sector with the support of OTH, Egypt’s largest foreign investor in Pakistan, and is currently building homes for the flood affectees across Pakistan. The company is also Pakistan’s largest foreign investor in the telecommunications industry having invested over $3.5 billion as of December 2010.