Zain Group’s nine months 2022 net profit soars 12% to reach KD 152mln

Zain Group’s nine months 2022 net profit soars 12% to reach KD 152mln

- Bader Al-Kharafi, Vice Chairman & Group CEO: “This outstanding 9M operational performance is testament to the successful execution of the ‘4Sight’ growth strategy”

- 9M revenue up 12% to reach KD 1.3 billion; 3rd quarter revenue up 15% and net profit up 10%

- A total of USD 140 million in interim dividends distributed in Q3 2022 to shareholders

- Digital services revenue up 47%; Fintech customer growth of 34% with revenue up 231%

- Solid performances in Kuwait, Saudi Arabia and Sudan highlight the 9M period

- Customer base grows 7%, reflecting an additional 3.5 million customers

- Data revenue grew 3% to reach USD 1.66 billion, representing 40% of consolidated revenue

- Enterprise revenues up 40% as ZainTech and B2B teams target lucrative opportunities

- Robust customer and revenue growth in Yaqoot, KSA’s digital operator

Kuwait: Zain Group, the leading telecom innovator in seven markets across the Middle East and Africa, announces its consolidated financial results for the third-quarter (Q3) and nine-month periods (9M) ended September 30, 2022. The company added 3.5 million active subscribers to serve a total of 52 million customers, a 7% year-on-year (Y-o-Y) growth.

Group Key Performance Indicators (KD and USD) for the nine months (9M) 2022

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Consolidated Revenue

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KD 1.3 billion -