Zain Group generates revenue of $1 3bn, net kuwaittimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kuwaittimes.net Daily Mail and Mail on Sunday newspapers.
Group records net profit income of $147 million for Q1; EBITDA reaches $523 million
KUWAIT CITY, May 9: Zain Group, a leading mobile innovator with operations in seven markets across the Middle East and Africa, has announced its consolidated financial results for the first quarter (Q1) ended March 31, 2021. Zain served 48.5 million customers at the end of the period.
Zain Group generated consolidated Revenue of KD 382 million (USD 1.3 billion) for the first quarter of 2021, down 6% year-on-year (Y-o-Y). EBITDA for the quarter reached KD 158 million (USD 523 million), down 7% Y-o-Y, reflecting an EBITDA margin of 41%. Net income for the quarter reached KD 45 million (USD 147 million), down 5% Y-o-Y reflecting an Earnings Per Share of 10 Fils (USD 0.03). Significantly, Zain Group net income grew operationally by 4% Y-o-Y for Q1, 2021, when excluding the one-time gain from the sale and lease back of towers in Kuwait during Q1 2020.