TELECOM EGYPT COMPANY Telecom Egypt's Board of Directors has approved the 2024 budget with KPI guidance as follows:
• Mid double-digit revenue growth.
• EBITDA margin in the late thirties.
• In-service CapEx-to-sales ratio in the early twenties, excluding license fees.
• FCFF to EBITDA ratio in the early forties, excluding license fees.
Mohamed Nasr, Managing Director and Chief Executive Officer, commented:
Data will remain the leading revenue source but we forecast continued momentum in our international revenue streams, hedging our hard currency exposure despite FX rate fluctuations. In addition, as we grow and expand our suite of products and services organically, such as the new local and international platforms (WE Gold and WE Connect), we expect to gain more market share and see improved operations, which will filter through to a better cash position - helping us to reach a positive FCFF in 2024. Furthermore, we will pursue investing in a resilient, adaptable and secured network infrastructure to ensure smooth business expansion and avoid any supply chain pressures. One of our main goals will be to maximize the value of our unique assets, such as data centers and mobile towers, through innovative financing strategies, including equity options. As we continue to connect the unconnected, we will also explore avenues of increasing our share in government projects, in line with the country's digital transformation strategy--a key component of Egypt Vision 2030. Our continued focus on this strategy, combined with our substantial return on investment from Vodafone, will enable us to deliver value to our shareholders and other stakeholders."
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Telecom Egypt Company SAE published this content on 05 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 December 2023 07:13:15 UTC.
