Number of mobile subscribers increase by 38 percent: Telecom Egypt

The number of mobile subscribers in Egypt increased by 38 percent compared to the same period in 2020,  Telecom Egypt company (WE) on Sunday said, while the number of fixed phone subscribers increased by seven percent and the number of fixed high-speed Internet subscribers increased by 22 percent.

The Managing Director and CEO of WE Adel Hamed said that there has been a growth in profits as revenues rose by 20 percent and profits before interest, taxes, depreciation and amortization have risen by 42 percent with a profit margin of 39 percent.

Hamed asserted that the main driver of growth is data for fixed and mobile phones, with increased spending overall on telecom services.

Net profit after taxes reached LE2.1 billion, an increase of 62 percent compared to last year, which the company attributed to its strong operating performance.

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