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 third quarter of 2010 as compared to the same period last year.
Mobilink posted revenue of PKR 23 billion for third quarter of 2010 as compared to PKR 21.5 billion for the same period last year, translating into a year on year increase of 6.27%. EBITDA increased from PKR 7.7 billion in Q3 2009 to PKR 9 billion in Q3 2010, registering an increase of 17.8%. Mobilink subscriber base showed 4.7% growth as compared to closing base of Q3 2009 closing at 31.44 million at the end of Q3 2010.
The company has maintained its leadership position even in the current economic environment. According to the results published by OTH, during the first 9 months of 2010, the revenue grew by 9.6% in local currency as compared to same period in 2009. Moreover, the EBITDA grew by 22.3% in local currency and by 16.9% in USD terms from January to September 2010 as compared to same period in 2009.
Khaled Bichara, Group CEO, OTH shared that OTH subscribers have now surpassed the 100 million mark and net income before minority interest has reached US$ 922 million for the period. Bichara highlighted the challenges faced by Pakistan due to the floods and Orascom’s contribution for the benefit of the flood victims in Pakistan.
Rashid Khan, President and CEO, Mobilink said, “Mobilink has further consolidated its position in the market and continues to market aggressively in Q3 2010. This is a great achievement for us at a time when the industry, economy and the nation as a whole is going through a tough time. We are not only re-investing in our infrastructure to further improve our quality and coverage but are also facilitating the flood affectees in the rehabilitation process. “
Mobilink is leading one of the largest initiatives from the private sector for flood relief with the support of OTH, Egypt’s largest foreign investor in Pakistan. Mobilink has also been recognized by the Overseas Investors Chamber of Commerce & Industry (OICCI) as the “top donor for relief efforts for flood victims” amongst its 185 member companies. The company is also Pakistan’s largest foreign investor in the telecommunications industry with over $3.5 billion invested to date.