Zain Group 2022 Revenue soars 14% to reach USD 5.6 billion, Net profit grows 6% to reach USD 640m

Zain Group 2022 Revenue soars 14% to reach USD 5.6 billion, Net profit grows 6% to reach USD 640m

Kuwait: Zain Group, a leading mobile telecom innovator in seven markets across the Middle East and Africa, announces its consolidated financial results for the full-year 2022, and fourth quarter ended 31 December, 2022. The Group ended the year with a customer base of 52.4 million, an annual increase of 7%, reflecting an addition of 3.5 million customers.

For the full-year 2022, Zain Group generated consolidated revenue of KD 1.7 billion (USD 5.6 billion), a year-on-year (Y-o-Y) increase of 14%. Consolidated EBITDA for the period increased by 7% Y-o-Y, to reach KD 673 million (USD 2.2 billion), reflecting an EBITDA margin of 39%. Consolidated net income reached KD 196 million (USD 640 million), up 6% Y-o-Y and reflecting earnings per share of 45 fils (USD 0.15).

The Board of Directors of Zain recommended a cash dividend of 25 fils per share for the second half (H2) of 2022.This dividend follows the semi-annual dividend of 10 fils distributed earlier in 2022, totaling 35 fils per share for the year and reflecting a 78% payout ratio, one of the highest of listed entities in the region. Furthermore, the Board made another recommendation to implement a minimum semi-annual and annual cash dividend policy of 35 fils