Zain Group, listed on the Kuwait Stock Exchange, announced its consolidated financial results for the first nine months of 2020, recording relatively stable revenues of about 1.2 billion dinars (3.9 billion Dollars), compared to combined revenues of 1.2 billion dinars (4 billion dollars) for the same period in 2019.

Zain explained, in a statement reviewed by (Namazoon) today, Wednesday, that its profits before taxes, interest and depreciation amounted to 502 million dinars (1.6 billion dollars), compared to With 538 million dinars ($ 1.8 billion) for the same period in 2019, which reflected a EBITDA margin of 42%.

and the group indicated that its net profits recorded about 132 million dinars (429 million dollars), compared to 153 million dinars (504 million dollars), for the nine-month period. The year 2019, at a profit of 30 fils per share.

These results were influenced by the current economic and social conditions, as investment and commercial activities in the region are still trying to recover from the repercussions of the new Corona virus (Covid 19) after its exit The gradual and partial process of the economic closure, and the health and security precautions that followed, and restrictions on the movement of travel.

Zain stated that the data sector revenues increased by 9%, compared with the same period in 2019, representing 41% of the total consolidated revenues, and this is attributed to the growth in the sector. The data indicates the continuous investments in expanding 5G networks in the markets of Kuwait, Saudi Arabia, and recently Bahrain, in addition to modernizing 4G networks and expanding FTTH optical fiber technologies. Currently, the group's networks provide services to about 48.9 million customers.

The quarterly financial results recorded strong growth for the third quarter compared to the second quarter of the current fiscal year, as net profits increased by 33% to 48 million dinars (157 The combined revenues for the third quarter increased by 9% to reach 408 million ($ 1.3 billion), compared to the second quarter of 2020, while it was stable compared to the third quarter period.

The Chairman of Zain Group, Ahmed Al-Tahous, said the size of the challenges faced by economic and investment activities was great, which imposed serious obligations on the telecommunications sector in dealing with the crisis. In light of this, Zain Group has been decisive in its initiatives, more responsive and connected with its customer base, and it continues to implement its strategy to keep pace with the shifts in the needs of its customers and the requirements of the business sector.

On his part, Vice Chairman and CEO of Zain Badr Nasser Al-Kharafi Group said the indications ...