Egypt Equity Research - Telecom Egypt (ETEL) 4Q24 - First Look Note
Telecom Egypt’s revenue grew significantly 60.4% YOY to EGP 23.6 Bn in 4Q24 mainly driven by solid growth in the Wholesale and Retail segments. Customer base rose steadily across fixed voice, fixed data and mobile segments by 5.9%, 7.7% and 12.6% YOY, respectively in 4Q24.
Egypt Equity Research - Telecom Egypt (ETEL) 3Q24 - First Look Note
Telecom Egypt’s revenue grew significantly 48.1% YOY to EGP 20.5 Bn in 3Q24 mainly driven by solid growth in the Wholesale and Retail segments. Customer base rose steadily across fixed voice, fixed data and mobile segments by 4%, 8% and 9% YOY, respectively in 3Q24.
Growth across all business segments boosted profitability
Telecom Egypt (the company) reported robust growth in the net profit more than doubled to EGP 3,813 Mn in 1Q23 as compared to EGP 1,366 Mn in 1Q22, higher than our estimates of EGP 2,531 Mn.
