Zain Group Q1 2023 net profit soars 15% to reach $177mln (KD 54mln)

Zain Group Q1 2023 net profit soars 15% to reach $177mln (KD 54mln)

- Newly appointed Chairman, Mr. Osamah Al Furaih: “The Board will build on the strong ESG foundations it inherited, and continue the company’s profitable growth trajectory”

- Vice-Chairman & Group CEO, Bader Al-Kharafi: “Our track record of sustainable growth and solid financial position today primes Zain to execute its ambitious ‘4Sight’ strategy”

- Customer base grows by 2.2 million customers, a 4% increase to reach 53 million

- Group consolidated EBITDA up 8% to reach USD 540 million (KD 165 million)

- Data Revenue grows 10% to reach USD 591 million

- Operations in KSA, Sudan and Iraq record impressive Q1 growth in major KPIs

- Focus on Fintech services driving healthy customer and revenue growth

- Digital services revenue soar 48%

- Enterprise revenue up 37% as ZainTech and local B2B teams secure lucrative deals

Kuwait City – Zain Group, a leading provider of innovative technologies and digital lifestyle communications operating in seven markets across the Middle East and Africa, announces its consolidated financial results for the first quarter (Q1) ended March 31, 2023. Over the past 12 months, Zain added 2.2 million active customers, a 4% increase to serve 53 million customers.

Group Key Performance Indicators (KD and USD) for first three months (Q1) of 2023

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