BOARD RECOMMENDS HALF-YEAR DIVIDEND OF 10 FILS
Zain Group, a leading telecommunications innovator operating in seven markets across the Middle East and Africa, announces its consolidated financial results for the six months to June 30, 2021. Zain served 48.3 million customers at the end of the period, a 1% increase year-on-year (Y-o-Y).
Ahmed Al Tahous, Zain Group Chairman and Bader Al-Kharafi , Vice-Chairman and Group CEO
For the first six months of 2021 (H1) Zain Group generated consolidated revenue of KD 750 million (USD 2.5 billion), a decrease of 3% Y-o-Y. EBITDA for the period reached KD 310 million (USD 1.03 billion), down 6% Y-o-Y, reflecting an EBITDA margin of 41%. Net income amounted to KD 86 million (USD 285 million), up 5% Y-o-Y, reflecting earnings per share of 20 fils (USD 0.07). For H1 2021, foreign currency translation was impacted mainly due to the currency devaluation in Sudan from 55 in January 2021 to 444 (SDG / USD) end of June 2021, and a 19% currency devalu
Zain Group second quarter 2021 net profit grows 17% to reach
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Zain Group Q2 2021 net profit grows 17% to reach $138 million
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The Daily Tribune – www.newsofbahrain.com
Zain Group yesterday reported a profit for the first quarter, which the company said was impacted by the widespread disruption in economic and social activity caused by COVID-19, which was further complicated by “the recent and significant currency devaluations in Iraq and Sudan.
Zain, which served 48.5 million customers at the end of the period, said the impact of the pandemic on the business was minimal during Q1 ‘2020, given its early stage of spread at the time, “however in Q1 2021 the impact was more profound.”
The Group, a leading mobile innovator with operations in seven markets across the Middle East and Africa, generated consolidated Revenue of KD 382 million (USD 1.3 bn) in Q1, down 6% year-on-year (Y-o-Y).
Zain Group generates revenue of $1 3bn, net
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