Home Page ContentPress Releases Zain Group announces record full-year financial results for 2010

Zain Group announces record full-year financial results for 2010

by david.nunes
Zain today announces its Group consolidated financial results for the twelve months ending 31 December 2010. The results showed an impressive growth in several key performance indicators, with a consolidated net profit soaring 445% to KWD 1.063 billion (US$3.675 billion), the highest ever in Zain’s history and a record in the private sector of Kuwait.
This net profit amount is inclusive of the capital gain of KWD 770.3 million (US$ 2.653 billion) from the sale of Zain Africa assets on June 8, 2010. If the capital gain from the Africa Assets sale is not taken in account, net income reached KWD 293 million (US$1.022 billion) for the year, representing a notable 50% increase on 2009 net income of KWD 195 million (US $675 million).
With such impressive earnings, the Board of Directors have recommended a cash dividend of 200 fils per share (US$0.72) that is subject to the necessary approvals at the Annual General Assembly that will be held in the very near future.
Twelve months 2010 Key Performance Indicators (Kuwaiti Dinars & USD)
Total Managed Active Customers
37.2 million up 23% on Dec 2009
Consolidated Revenues
KWD 1.35 Billion       (US$ 4.72 billion)
EBITDA  (margin 46%)
KWD 616 million       (US$ 2.15 billion)
KWD 449 million       (US$ 1.57 billion)
Net Income (including capital gain)
KWD 1.063 billion     (US$ 3.675 billion)
Net Income (excluding capital gain)
KWD 293 million        (US$1.022 billion)
Earnings Per Share
Fils 275                        (US$0.95)
To read the complete press release in Arabic and English, please click here.
Issued by Zain Group Corporate Communications Department

[email protected]

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