ARAB TIMES, MONDAY, MAY 10, 2021 BUSINESS 9 Zain generates $1.3bn revenue for Q1 Zain HQ Building Group records net profit income of $147 million for Q1; EBITDA reaches $523 million KUWAIT CITY, May Group’s overall revenue everyday life and essential medi- Bank and Boubyan Bank for data 2. Zain KSA completely cal and commercial services, aim- related services. 9: Zain Group, a lead- settled the Group Shareholder ing to lessen the impact of the pan- Saudi Arabia: For Q1 2021, ing mobile innova- Loan with an upstream of USD demic on the societies we serve.” Zain KSA generated revenue tor with operations in 553 million during Q1 2021 “Our operational focus has been of SAR 1.9 billion (USD 517 3. Throughout the quar- centered on expanding and mon- million), EBITDA for the pe- seven markets across ter, Zain Group invested USD etizing our 4G, FTTH and 5G net- riod reached SAR 735 million the Middle East and 415 million in CAPEX (tangible works creating vast and lucrative (USD 196 million), reflecting and intangible) refl ecting 33% of opportunities particularly related an EBITDA margin of 38%. Africa, has announced total revenue, predominantly in to Enterprise (B2B) services to Net income for the three months its consolidated finan- expansion of Fiber-to-the-Home government and businesses of all reached SAR 41 million (USD cial results for the first (FTTH) infrastructure; spectrum sizes. At the same time, we con- 11 million). Having the King- fees; 4G upgrades and new net- tinue to make signifi cant progress dom’s largest 5G network cov- quarter (Q1) ended work sites across its markets, as in raising the company to new ering 50 cities, the operator’s March 31, 2021. Zain well as ongoing 5G rollouts in heights and maximizing value for data revenue represents 51% served 48.5 million cus- Kuwait, Saudi Arabia and Bahrain shareholders through our ‘4Sight’ of total revenue and customers 4. Kuwait witnessed im- strategy. We are evolving the served stood at 7.2 million. tomers at the end of the pressive growth in 5G consumer company’s core telecom business Iraq: Zain Iraq’s Q1 2021 rev- period. and B2B customers, with Zain and building on its many strengths enue reached USD 184 million Saudi Arabia expanding its 5G to selectively invest in growth and EBITDA amounted to USD Zain Group generated con- network to over 50 cities covering Bader Al-Kharafi, Zain Vice-Chair- Ahmed Al Tahous, Zain Group verticals beyond standard mobile man and Group CEO Chairman 75 million, refl ecting an EBITDA solidated Revenue of KD all regions in the Kingdom services.” margin of 41%. The operation 382 million (USD 1.3 billion) 5. Zain KSA enters MoU port, titled ‘The Ten-Year Jour- socio-economic activity and the Financial KPIs of key mar- reported a net profi t of USD 12 for the first quarter of 2021, with Mobily to unify telecom tow- ney’ as well as an insightful impact of currency devaluations kets for fi rst quarter (Q1) ended million for Q1 2021. The opera- down 6% year-on-year (Y- ers aiming to maximize effi ciency report on ‘Women in Technol- on the business. Nevertheless, our March 31, 2021 tor served 16.2 million custom- o-Y). EBITDA for the quar- and improve coverage throughout ogy- Bridging the Gender Gap culture of innovation has been Kuwait: Maintaining its market ers maintaining its market leading ter reached KD 158 million the Kingdom in STEM Fields’ invaluable at this time of rapid leadership, Zain Group’s fl agship position. It should be noted that (USD 523 million), down 7% 6. Saudi Central Bank Commenting on the Q1 2021 change, and our business conti- operation saw its customer base on December 19, 2020, the Iraqi (SAMA) grants Zain KSA fi ntech results, Chairman of the Board nuity strategy has been executed serve 2.5 million. It remains the dinar was offi cially devalued by Y-o-Y, reflecting an EBITDA subsidiary, ‘Tamam’, fi rst con- Group’s most profi table operation 19% from 1,190 to 1,470 (IQD margin of 41%. Net income of Directors of Zain Group, impressively to counter these sumer micro-fi nancing license in Ahmed Al Tahous said, “The factors. Management has proac- with revenue for Q1 2021 reach- / USD), impacting Revenue by for the quarter reached KD 45 the region ing KD 79.4 million (USD 263 Board and Executive Manage- tively undertaken numerous de- USD 43 million. million (USD 147 million), 7. Zain Iraq and Zain South cisive digital transformation and million), EBITDA reaching KD Sudan: For Q1 2021, Zain Sudan launch high-speed 4G com- ment have been focused on 28 million (USD 93 million), rep- down 5% Y-o-Y reflecting an minimizing the ongoing impact cost optimization initiatives while Sudan generated revenue of Earnings Per Share of 10 Fils mercial services boosting connec- resenting an EBITDA margin of USD 92 million, with EBITDA tivity and socio-economic activity of COVID-19 and significant maintaining healthy cash fl ows, 35%. Net income reached KD 17 (USD 0.03). Significantly, currency devaluations in Iraq and both Zain Iraq and Zain Su- amounting to USD 42 million, 8. Zain esports successful million (USD 56 million) for Q1 reflecting an EBITDA margin of Zain Group net income grew rollout as one of the fastest grow- and Sudan on the business. We dan have recently taken measures 2021, with data revenue growing in dealing with currency devalua- 46%. Net income for the period operationally by 4% Y-o-Y ing esports brands across Middle are dedicated to ensuring our by 2% and accounting for 39% of reached USD 18 million. Data for Q1, 2021, when exclud- East attracting over 15,000 regis- mobile networks are operating tions by revamping prices and of- total revenue. revenue grew by 32% represent- ing the one-time gain from the tered players and 25 million views at optimal levels and providing fering new attractive data moneti- During the quarter, the opera- ing 29% of total revenue, while sale and lease back of towers across various social media chan- meaningful connectivity to the zation packages.” tor witnessed impressive growth the operator’s customer base in Kuwait during Q1 2020. nels communities we serve. I would Al-Kharafi continued, “Given in both 5G mobile and broadband reached a record 17.2 million, For Q1 2021, foreign currency 9. The Zain Group Appli- like to thank all the government the limitations on mobility, lo- customers and resulting revenue maintaining its market leader- translation was impacted mainly cation Program Interface (API) entities and regulatory authori- cally and travel abroad, we have capturing the largest 5G market ship. On February 21, 2021, due to the currency devaluation platform continues to grow with ties across our markets for their continued to play a key role in share in the country. Continual Sudan’s central bank sharply in Sudan from 55 to 375 (SDG / 12 digital partnerships offering proactivity and cooperation keeping people socially distanced innovation and digital transfor- devalued the Sudanese pound USD) during end of February, and 21 attractive services, resulting in with the telecom sector at large, while remaining connected and mation saw the launch of a new from 55 to 375 (SDG / USD), a 19% currency devaluation in substantial revenue with 5 million in supporting operators, mobile productive during the current and dynamic customer app offer- impacting Revenue by USD 134 Iraq from an 1,190 to 1,470 (IQD monthly transactions and totaling consumers and societies during learning and working from home ing many new features, as well as million. / USD), cost the Group USD 177 over 80 million transactions since these times.” environment. All Zain operations’ enhancement of its web and zBot Jordan: For Q1 2021, Zain million in Revenue and USD 66 its launch Bader Nasser Al-Kharafi , Zain response to these modifi ed cir- chat service. From a B2B perspec- Jordan revenue reached USD 124 million in EBITDA. 10. Zain was the highest Vice-Chairman and Group CEO cumstances has been nothing but tive, Zain Kuwait partnered with million, EBITDA reached USD Zain Group’s resilient results ranked MEA operator in CDP commented, “The Group’s resil- exemplary. We implemented ad- the Ministry of Interior to revamp 56 million, refl ecting an EBITDA for Q1 2021 were achieved de- global index with respect to its ef- ient performance for the quarter ditional digitalization initiatives the Kuwait TV app to live stream margin of 45%, with net income spite the widespread disruption forts to address climate change refl ects the reality of the unavoid- to better serve businesses, govern- 9 local video and 11 radio chan- reaching USD 20 million. With in economic and social activ- 11. Zain Group publishes able combination of both COV- ments, and communities, granting nels. Also, the operator entered the ongoing expansion of 4G ity caused by COVID-19, further 10th annual sustainability re- ID-19’s ongoing disruption on them increased digital access to deals with Kuwait International services across the country, data compounded by the recent and revenue grew 12% representing signifi cant currency devaluations 48% of total revenue. Zain Jor- in Iraq and Sudan. dan served 3.6 million customers It should be noted that the im- maintaining its market leading pact of the pandemic on the busi- position. ness was minimal during Q1 2020, Bahrain: Zain Bahrain gener- given its early stage of spread at ated revenue of USD 44 million the time, however in Q1 2021 the for Q1 2021. EBITDA for the pe- impact was more profound.