Zain Group's consolidated financial results for the twelve months ending 31 December 2010 showed an impressive growth in several key performance indicators, with a consolidated net profit of $3.675 billion, the highest ever in Zain's history and a record in the private sector of Kuwait.
Twelve Months 2010 Key Performance Indicators (Kuwaiti Dinars & USD)
Total Managed Active Customers
37.2 million (up 23% on Dec. 2009)
KWD 1.35 billion (US$ 4.72 billion)
EBITDA (Margin 46%)
KWD 616 million (US$ 2.15 billion)
KWD 449 million (US$ 1.57 billion)
KWD 1.063 billion (US$ 3.675 billion) including capital gain
KWD 293 million (US$ 1.022 billion) excluding capital gain
Earnings Per Share
Fils 275 (US$0.95)
For the 12 months of 2010, Zain Group recorded impressive consolidated revenues of KWD 1.35 billion (US$ 4.72 billion), an increase of 7% compared to the 12 months of 2009. The company's consolidated EBITDA increased by 6% for the same period to reach KWD 616 million (US$ 2.15 billion) reflecting an EBITDA margin of 46%, with EBIT rising 4% to reach KWD 449 million (US$ 1.57 billion).
Consolidated Net Income reached KWD 1.063 billion (US$3.675 billion), an increase of 445%, that is inclusive of the capital gain of KWD 770.3 million (US$ 2.653 billion) from the sale of Zain Africa assets on June 8, 2010. If the capital gain from the Africa Assets sale is not taken in account, net income reached KWD 293 million (US$1.022 billion) for the year, representing a notable 50% increase on 2009 net income of KWD 195 million (US $675 million).
The earnings per share for the 12 months of 2010, stood at KWD 0.275 (US$ 0.95), compared to KWD0.051 (US$0.18) in the previous year. Additionally, the period witnessed shareholder equity increase 11% to reach US$9.77 billion (KWD 2.75 billion).
Year-on-year customer growth across all the Middle East countries in which Zain operates was 20%, whereby the company is serving 37.6 million managed active customers as of March 31, 2011.
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** To view our Q1, 2011 financial results please click here