By Mohamed Alaa El-Din
Vodafone Egypt achieved income of EGP 13bn last year, with a net profit of EGP 1.8bn, while the company’s revenues during the fourth quarter (Q4) of 2014 were at EGP 3.4bn. This represented an increase of 1% compared to the Q2 of the same year.
According to the company’s financial statements, Vodafone Egypt achieved net profit of EGP 513m in Q4 of 2014, compared to EGP 507m in Q3 of 2014, with a growth rate of 1.2%.
Vodafone Egypt was able to increase its net profits to EGP 1.849m during 2014, compared to 2013, while its revenues were at EGP 13.5bn in 2014.
In spite of its revenues and profits increase, the number of Vodafone Egypt’s clients significantly retreated last year. This was due to the deletion of unregistered clients and the regulations which the National Telecommunication Regulatory Authority (NTRA) put in place to control the selling and purchasing of mobile lines.
Vodafone’s clients retreated to 39.5 million by the end of December, compared to 41.9 million by the end of 2013. This represents a reduction of 5.6%, or a loss of 2.5 million subscribers, last year.
Used minutes through Vodafone Egypt network amounted to 71.2bn minutes in 2014, compared to 68.1bn minutes in 2013, an increase of 4.5%.
Mobile services acquired the biggest share of the income of Vodafone Group plc last year, with 81%. Internet services represented 15%, while other services represented 4% of the total income, according to a report of Vodafone Group plc presenting financial performance of the company throughout 2014.
Clients of the company used 1.2tn minutes of voice calls through its network in the different countries the company works in. Text messages amounted to 337m, last year, as well as 9.3m clients for the broadband service.