Orascom Telecom passes another successful year
Wednesday, 14 April 2010
The global customer base of Orascom Telecom Holding (OTH) continued to grow reaching almost 93 million subscribers, a 19 per cent growth over the previous year.
Growth was the strongest in Bangladesh, up by almost 35 per cent, in Egypt, 26 per cent, and in Tunisia, by almost 23 per cent, according to a press release.
After the substantial inactive customer base clean-up in Q1 2009, subscriber growth in Pakistan resumed and continued throughout the rest of the year.
"2009 demonstrated the strong resilience of our business in increasingly volatile and challenging global economic conditions. Orascom Telecom has continued to focus on its core strategic goals of creating shareholder value through the continued growth of its existing subsidiaries," commented Naguib Sawiris, Executive Chairman of OTH.
Banglalink, the fastest growing mobile operator in Bangladesh enjoyed the highest number of net addition in 2009 with 3.6 million subscribers whereas the market leader had net addition of 2.3 million only.
This brings the total subscriber base of Banglalink to 13.9 million at the end of 2009 which is a 34.3 per cent year-to-year increase.
Banglalink's market share at the end of 2009 was 26.8 per cent which is a 3.6 per cent increase from 23.2 per cent at the end of 2008.
Banglalink's revenue performance has been impressive with Tk 24.375 billion revenue in 2009, which is an increase of 22.2 per cent compared to 2008 revenue, the press release added.
The recently appointed Group CEO, Khaled Bichara added to his chairman's comments saying "Throughout this year, we have held to an ambitious OPEX reduction plan, resulting in an OPEX reduction of 6-8 per cent. Both Pakistan and Bangladesh showed healthy results thanks to the implementation of our cost optimisation plans. We continue to create value through catering to our customers' needs by providing innovative and high quality services."
Growth was the strongest in Bangladesh, up by almost 35 per cent, in Egypt, 26 per cent, and in Tunisia, by almost 23 per cent, according to a press release.
After the substantial inactive customer base clean-up in Q1 2009, subscriber growth in Pakistan resumed and continued throughout the rest of the year.
"2009 demonstrated the strong resilience of our business in increasingly volatile and challenging global economic conditions. Orascom Telecom has continued to focus on its core strategic goals of creating shareholder value through the continued growth of its existing subsidiaries," commented Naguib Sawiris, Executive Chairman of OTH.
Banglalink, the fastest growing mobile operator in Bangladesh enjoyed the highest number of net addition in 2009 with 3.6 million subscribers whereas the market leader had net addition of 2.3 million only.
This brings the total subscriber base of Banglalink to 13.9 million at the end of 2009 which is a 34.3 per cent year-to-year increase.
Banglalink's market share at the end of 2009 was 26.8 per cent which is a 3.6 per cent increase from 23.2 per cent at the end of 2008.
Banglalink's revenue performance has been impressive with Tk 24.375 billion revenue in 2009, which is an increase of 22.2 per cent compared to 2008 revenue, the press release added.
The recently appointed Group CEO, Khaled Bichara added to his chairman's comments saying "Throughout this year, we have held to an ambitious OPEX reduction plan, resulting in an OPEX reduction of 6-8 per cent. Both Pakistan and Bangladesh showed healthy results thanks to the implementation of our cost optimisation plans. We continue to create value through catering to our customers' needs by providing innovative and high quality services."