REG - Telecom Egypt S.A.E - Telecom Egypt announces its 2023 guidance

Telecom Egypt Co SAEAnnouncement

20/10/2022 07:01

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RNS Number : 4826D  Telecom Egypt S.A.E  19 October 2022

 

 

 

 

2023 guidance: Positive outlook amidst global challenges

 

Cairo, October 19, 2022 - Telecom Egypt's Board of Directors has approved the
2023 budget with KPI guidance as follows:

·      Early double digit revenue growth

·      EBITDA margin in the mid-to-high thirties

·      In-service CapEx-to-sales ratio in the early twenties

·      FCFF to EBITDA in the mid-twenties

Adel Hamed, Managing Director and Chief Executive Officer, commented:

 

"Our 2023 guidance reflects our positive outlook for the year despite the
ongoing global challenges. We're confident that our company strategy to build
on the data momentum, monetize on infrastructure, reduce costs, while
rationalizing our investments, will steer the company towards further growth.

We anticipate data to continue being our main revenue driver, with surging
local and international demand being supported by our network enhancements and
world-class facilities - clearly placing us as a frontrunner to becoming the
region's data hub. On the operational front, we plan on growing our customer
base and other KPIs through improved services.  Despite the inflationary
pressures and supply chain disruption, we expect to see cost optimization due
to reduced mobile call costs (as a result of the new national roaming services
agreement) and debt cost reduction strategies, supported by our healthy
foreign currency inflows.

In addition, we will continue to promote and facilitate usage growth by
enhancing our customer experience through system upgrades and improved
processes and products, while aiming for seamless, efficient and effective
communication across all touch points. This overall strategy will improve
profitability, and lead to higher operating cash flows, which accompanied by
the defined returns from our investment in Vodafone will maximize shareholder
value."

 

- End -

 

About Telecom Egypt

 

Telecom Egypt is the first integrated telecom operator in Egypt providing all
telecom services to its customers including fixed and mobile voice and data
services. Telecom Egypt has a long history serving Egyptian customers for over
160 years maintaining a leadership position in the Egyptian telecom market by
offering its enterprise and consumer customers the most advanced technology,
reliable infrastructure solutions and the widest network of submarine
cables.  Aside from its mobile operation "WE", the company owns a 45% stake
in Vodafone Egypt. Telecom Egypt's shares and GDRs (Ticker: ETEL.CA; TEEG.LN)
are traded on The Egyptian Exchange and the London Stock Exchange. Please
refer to Telecom Egypt's full financial disclosure on ir.te.eg
(http://ir.te.eg/en/)

 

For more information, contact:

The investor relations team

Email: investor.relations@te.eg (mailto:investor.relations@te.eg)

 

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