Mobinil Reports USD 1.9 Billion Revenues

Egyptian cellco MobiNil has posted revenues of EGP10.8 billion (USD1.9 billion) for 2009, up 8% year-on-year, on the back of strong subscriber growth. EBITDA grew by 9% during the period to EGP5.1 billion while net income came in at EGP2 billion, up 3%.

At 31 December the active subscriber base stood at 24.1 million, up from 19.2 million twelve months previously. Average monthly ARPU across the year fell from EGP46 in 2008 to EGP39 in 2009 in light of fierce competition between MobiNil and rival cellcos Vodafone Egypt and Etisalat Misr (Nile Telecom).