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FINANCIAL NEWS
Zain KSA records USD293.16m EBITDA growth in 2014
02 Mar 2015
(MENAFN) Zain KSA posted improved financial results hitting USD293.16 million in EBITDA in 2014, up from USD237.19 million in 2013, marking 24 percent increase, Saudi Gazette reported.
Zain’s net losses were limited by 24 percent in 2014 reaching USD338.47 million, down from USD440.01 million in 2013. Gross margin also increased to 52 percent against 48 percent in 2013.
Mobile Internet data traffic continued to increase, marking a behemoth growth rate of 621 percent against 2013. Mobile broadband service customers also grew by 147 percent.
“The company is steadily strengthen its financial situation, and the BOD fully trust and backs the transformation plan implemented by the management since early last year,” chairman of Zain KSA’s said in a statement.
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