Zain Group Q2 2022 net profit soars 22% to reach KD 50 mln – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

Zain Group Q2 2022 net profit soars 22% to reach KD 50 mln – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

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KUWAIT CITY, July 17: 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, 2022. Zain served 51.7million customers at the end of the period, a 7.1% increase year-onyear (Y-o-Y). In the second quarter of 2022 (Q2), Zain Group generated consolidated revenue of KD 421 million (USD 1.4 billion), up 14% Y-o-Y. EBITDA for the quarter reached KD 166 million (USD 544 million), up9% Y-o-Y, refl ecting an EBITDA margin of 40%. Net income for the quarter amounted to KD 50 million (USD 165 million), up 22% Y-o-Y, refl ecting earnings per share of 12 fils (USD 0.04). For the first six months of 2022 (H1), Zain Group generated consolidated revenue of KD 829 million (USD 2.7 billion), an increase of 10% Y-o-Y. EBITDA for the period reached KD 320 million (USD 1.1 billion), up 3% Y-o-Y, refl ecting an EBITDA margin of 39%. Net income amounted to KD 98 million (USD 321 million), up 14% Y-o-Y, refl ecting earnings per share of 23 fils (USD 0.07).

Key Operational Notes for H1, 2022