Zain Group reports resilient results for first six months of 2020 – ZAWYA

Zain Group reports resilient results for first six months of 2020 – ZAWYA

Zain Group reports resilient results for first six months of 2020 | ZAWYA MENA Edition HomeArticleZain Group reports resilient results for first six months of 2020 For H1 2020, company records Revenue of USD 2.6 billion, Net Income of USD 273 million    Bader Al Kharafi-Zain Vice Chairman and Group CEOKuwait City : Zain Group, a leading mobile innovator with operations in eight markets across the Middle East and Africa, announces its consolidated financial results for the six months to June 30, 2020. Zain served 47.6 million customers at the end of the period, reflecting a 3% decrease year-on-year (Y-o-Y). Group Key Performance Indicators (KD and USD) for first six months (H1) of 2020For the first six months of 2020 (H1), Zain Group generated consolidated revenue of KD 787 million (USD 2.6 billion), a decrease of 3% Y-o-Y. EBITDA for the period reached KD 336 million (USD 1.1 billion), down 5% Y-o-Y, reflecting an EBITDA margin of 43%. Net income amounted to KD 84 million (USD 273 million), down 14% Y-o-Y, reflecting earnings per share of 19 fils (USD 0.06). Zain Group's resilient results were achieved despite the widespread disruption in economic and social activity. To counter the impact of the COVID-19 pandemic