Reporter PK

Mobilink posts strong growth; revenues

Mobilink posts strong growth; revenues

Mobilink, Pakistan’s market leader in cellular services and part of Orascom Telecom Holding (OTH), has posted strong revenues, higher EBITDA and increasing subscriber base in the first half of 2010 as compared to the same period last year.According to the results published by OTH, Mobilink subscriber base increased by 10.5% as compared to same period last year closing at 32.2 million at the end of H1 2010. Mobilink closed the first half of 2010 with revenues of PKR 47.5 billion showing a YoY increase of 11.4% and there was a YoY increase of 24.8% in its EBITDA in rupee terms. Moreover, the company’s EBITDA margin has increased to 39.6% versus 35.5% over the same period last year.

Commenting on the results, Khaled Bichara, Group CEO, OTH shared that the first half of 2010 has demonstrated stable growth for most of Orascom operations, supported by a trend of high additions to various customer bases. Mobilink’s indicators have shown healthy signs of growth across the board, in particular an 18% YoY increase in EBITDA in USD thanks to reduced SIM tax subsidization.

Rashid Khan, Mobilink President and CEO, said, “Mobilink has maintained a strong presence in the market with aggressive marketing and innovative services. At the back end, we are striving to enhance the user experience by investing in the infrastructure to further improve quality of service. We continue to enjoy the faith of our customers due to our edge in coverage, quality and network strengths and hope to maintain this trend in the second half of the year as well.”

Mobilink has invested over $3.3 billion in Pakistan and will be investing an additional $250 million in 2010. Mobilink and Orascom have also pledged PKR 85 million for efforts being undertaken by the company to reach out the flood affectees hit by the worst floods in Pakistan’s history.

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