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News
MobiNil reports 8% increase in revenues
5 March 2010
As a result of the strong subscriber growth, Egyptian cellco MobiNil witnessed 8% year-on-year increase in its revenues with EGP10.8 billion (USD1.9 billion) for 2009. 9% increase in the EBITDA has also been reported going up to EGP5.1 billion while net income came in at EGP2 billion, up 3%.
The subscriber base of the company stood at 24.1 million at December 31, up from 19.2 million twelve months previously.
Due to the staunch competition between MobiNil and rival cellcos Vodafone Egypt and Etisalat Misr (Nile Telecom), the average monthly ARPU across the year fell from EGP46 in 2008 to EGP39 in 2009.
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