Cairo – Mubasher: Telecom Egypt aims to achieve low double-digit revenue growth during 2020.
The Egyptian telecom operator also revealed plans to register an earnings before interest, tax, depreciation and amortization (EBITDA) margin in the mid to high twenties, according to a filing to the Egyptian Exchange (EGX) on Thursday.
In addition, the company targets an in-service capital expenditure to sales ratio of 30%, the statement showed.
Several projects are expected to be launched in 2020, which will allow the company capitalise on growth achieved in 2019.
It is noteworthy that during the first nine months of 2019, the company’s net profits dropped to EGP 3.2 billion, compared to EGP 3.5 billion in the year-ago period, including minority shareholders’ rights.
On the other hand, the company’s revenues grew to EGP 19 billion in the nine-month period ended 30 September, compared to EGP 17.3 billion in the same period a year earlier.
